Wednesday, March 28, 2012

Survey Results Show Market is Unclear where Social Media is Headed

Marketing Pilgrim cites interesting content from Pivot's 2011-2012 social marketing report. Pivot's report notes several interesting social media findings. Notable findings within Pivot's report include the following:

  • Companies feel they know their social consumers well, despite not asking social consumers what they really want

  • Social media helps brands because of the ability to interact with consumers

  • Money, ambiguity hold back social media growth and development

  • 2013 is considered the year social media will break through

Marketing Pilgrim focuses on one specific question where Pivot asked brand managers, agency professionals and marketing experts whether social media will become mainstream in 2012. Results show the market is split about whether social media become mainstream in 2012. Budget, lack of clarity and skepticism inhibit social media advancements.

As a rule of thumb, businesses strategy can provide a clear vision about the best way(s) to leverage social media. For example, a company focusing on providing excellent customer service (e.g., Disney, Nordstrom) can use social media to engage and interact with consumers. Companies promoting low prices can feature special deals through social media; however, companies should remain transparent with intentions to use social media for marketing purposes.

Understanding business needs can provide vision, help prioritize tasks for budgeting purposes and alleviate doubt for social media endeavors.

Where do you think social media is headed in 2012? Is your company currently using social media? If so, how?