Taking Social Media from Talk to Action

The Harvard Business Review has recently published a report (sponsored by SAS) on social media called, "The New Conversation: Taking Social Media from Talk to Action."The report focuses on common marketing ideas like word of mouth marking (WOMM) and the ways in which, "Conventional marketing wisdom long held that a dissatisfied customer tells ten people. But…in the new age of social media, he or she has the tools to tell ten million.” The report has some great information on social media from a business perspective and is definitely worth taking a look at. Some highlights from the report include:

• There has been an exponential increase in the use of social media yet 31% of companies don't measure the effectiveness of their social media efforts
• 75% of companies don't know where their customers are talking about them or what they're saying
• Only 7% of companies that took part in the study incorporate social media with the rest of their marketing
• 69% of the companies surveyed plan to increase their use of social media in the next year
• The most popular way to measure social media is to incorporate their social media monitoring solution with their other marketing solutions

Posted by Amberlie Denny at February 1, 2011 8:30 AM

Comments

Sebastian Rusk

It's going to take time for corporate brands to 'really' get it. Regardless of what peoples opinions are, we are in the midst of a fundamental shift in the way we communicate. The ROI of Social Media is that you'll be in business in 5 years. Write that down. @sebrusk @SocialBuzzTV