Corporate Trends in Social Media Marketing

Corporate Trends in - CORPORATE TRENDS In Social Media Marketing Corporate Trends in Social Media Marketing Executive Summary In the last 18 months

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In Social Media Marketing CORPORATE TRENDS
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Executive Summary In the last 18 months, Social Media Marketing has generated a lot of attention and buzz in marketing circles. From the US Presidential campaign of Barack Obama, to individuals creating a personal brand on blogs and microblogs, everyone seems interested in getting in on the social media hype. Mainstream media continues to point to unprecedented adoption rates of social networks like Facebook , Twitter , LinkedIn and others, leaving brands to move beyond the question of whether or not to adopt social media as part of the marketing mix, and into how they should adopt it. In this eBook we are seeking answers to the following questions: • How are companies currently using social media? • How much of the 2009 marketing budget are marketers allocating to social activities and how is that money being allocated? • What social media vehicles and channels are currently being used and what is the migration/upgrade path? • How can companies use social media to demonstrate real business value? • What is preventing companies from adopting social media? To uncover the answers to these questions, we collected survey responses from 623 marketing executives at mid-to-large sized organizations, and interviewed executives from 5 large organizations who have adopted social media as part of their marketing strategy. • 36% of survey responses came from marketing executives at companies with revenues greater than $250M. • 48% of responses came from companies between $100M - $250M in revenue. • 16% were from companies less the $100M in revenue. www.awarenessnetworks.com 2 Corporate Trendsin Social Media Marketing “For companies, resistance to social media is futile. Millions of people are creating content for the social Web. Your competitors are already there. Your customers have been there for a long time. If your business isn't putting itself out there, it ought to be.” BusinessWeek , February 19, 2009
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www.awarenessnetworks.com 3 Corporate Trendsin Social Media Marketing What we uncovered is that while marketing budgets are generally declining for 2009, roughly 50% of respondents have allocated a percentage of their marketing budget to social media. In addition, most organizations are leveraging “unpaid” forms of social media such as Facebook, Twitter, and YouTube, along with lower cost blogging applications like WordPress and SocialTextto execute social media programs. While this is a popular approach organizations are using to “get started” in social media, most organizations who are budgeting some of their 2009 marketing spend on social media are planning an upgrade from ”unpaid” sources to an enterprise platform that offers more data control, increased functionality, and a hard ROI. Overwhelmingly, companies planning on launching social media programs in 2009 are
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This note was uploaded on 11/07/2011 for the course RTV 4506 taught by Professor Garycorbittmiaomelissaguo during the Fall '10 term at University of Florida.

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Corporate Trends in - CORPORATE TRENDS In Social Media Marketing Corporate Trends in Social Media Marketing Executive Summary In the last 18 months

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