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Social Media Practices Still in Infancy Stages, Survey Finds
November 06, 2008
MENG members see opportunity for growth in Web 2.0 Practices, but most marketers are still on the learning curve. (Edited by Stacy Straczynski)
Despite the fact that many marketers feel like they are losing the race to adopt social media practices, the Marketing Executives Networking Group (MENG), today announced the findings of their social media membership survey. The results reveal most marketers are still in the early or experimental phases of adopting and measuring social media, with 67% of respondents consider themselves only beginners in the application of social media marketing. Additionally, more than 87% of respondents report not regularly measuring the ROI of their social media marketing efforts.
"Our members are excited about the potential of social media, but most have not yet fully integrated social media practices into their traditional marketing efforts," says Richard Guha, chairman of MENG. "While many marketers are worried they're missing the boat, in reality, even the Fortune 500 companies don't feel they've mastered social media just yet."
The survey was conducted last month to gauge the role of social media in today's marketing practices, and nearly 75% of respondents define social media as media that is based on conversations among users. While more than 67% report they will increase their social media advertising budget in 2009, nearly 80% say social media is not a fully integrated component of their marketing programs.
"Many marketers are unsure where to start with social media," says MENG member Dwight Griesman, CMO at Forrester Research. "It's important to make the decision on what to do based on your target audience and your strategy, not the technology. As noted in Forrester's book, Groundswell: Winning In A World Transformed By Social Technologies, following the four step POST process provides marketers with a framework for leveraging social media to achieve their goals. The first three steps cover People, Objectives and Strategy. Only then does Technology factor in. Focusing on the audience first is the right place to start as marketers formulate their approach to social media," says Griesman.
"An important thing to remember is that the initial foray into social media should always begin with listening to your consumers," says MENG member Bert DuMars, vice president e-business & interactive marketing at Newell Rubbermaid. Newell Rubbermaid's Graco brand implemented a social media strategy designed to humanize and increase positive perceptions of the brand. "Ask them how they would like to engage with your brand, find the communities where they are already active, and immerse yourself in the social networking environment. Also, always be transparent to your consumers, and remember it is a conversation, not an interruption—and always start with listening," DuMars says.
The MENG Social Media Practices survey results are available to MENG members online at www.MENGonline.com.
Sales & Marketing Management Magazine
This article is brought to you by Sales & Marketing Management, the leading authority for executives in the sales and marketing field.
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