Over half (55%) of the UK’s businesses have restructured to accommodate the rise of social media but 27% don’t know how its success is measured within their organisation, according to research.
The study, published by LBi, YouGov and the IAB, also claimed 45% of marketing teams use social media to raise awareness of their brand but only 28% are using it to actually interact with their consumers.
Meanwhile, just over a third (35%) of the 600 respondents said they did feel confident in communicating with consumers via social media however a similar amount (36%) did not.
The research, conducted last month, revealed that in larger sized companies just 15% of CEOs are responsible for managing their social strategies compared to 29% in SMEs.
However, 13% of respondents also reported that responsibility for the management of their company’s social strategy did not sit with anyone denoting a lack of confidence when it comes to using social media within the UK.
This was further evidenced when the study looked at how UK businesses measured the ROI of their social activity with the study finding this to be one of the top barriers to businesses becoming more social.
With 27% of respondents not knowing how the success of social media is measured within their organisation, a further 30% said they were using existing KPIs to work out the success of their engagement strategies.
While a quarter said they benchmark previous campaigns with more recent ones (26%) with 17% claiming to record ROI.
Hannah Bewley, IAB research manager, said, “It’s clear to see that resource, budgets and confidence are key challenges. However, the biggest challenge faced by organisations relates to difficultly in measuring success.”
John Monks, head of social business design at LBi, said, “While some brands make the use of social channels look effortless, it’s usually because they have invested in creating the necessary structures, processes and internal relationships. We believe that investing in becoming inherently social is crucial to the future success of any business.”
The IAB has released the report today to coincide with its flagship Engage conference held in the Barbican Centre, London, where industry luminaries including Twitter CEO Dick Costolo, ITV MD for commercial and online Fru Hazlitt and AKQA’s Ajaz Ahmed are among the speakers.
New media age will be reporting live from the conference.
More to follow.