The results from a recent survey done by MarketingSherpa caught my attention. They asked over 2,000 marketers what metrics they use to monitor and measure the impact of using social media – here are the results courtesy of MarketingSherpa:
Three significant observations about these survey results caught my attention:
- The top 2 metrics are about presence – number of visitors and network size. These are interesting data for analysis and market intelligence that could produce tangible results for targeted campaigns. While having a large number of social media visitors and followers doesn’t necessarily translate into business results, it appears that companies are currently primarily focused on establishing and building their social media presence.
- The 3rd and 4th highest ranked metrics are about reputation – no question that brand, product and company reputation are huge considerations for social media and should be diligently monitored and measured. The surprise is that only 56% and 50% respectively use these metrics which means that almost half of the companies surveyed don’t know what social media commentary and sentiment is expressed about their brand, product or company.
- Leads generated only ranks 6th with 48% monitoring and measuring this outcome from their social media activities. This is an alarming observation for me. Marketing shouldn’t do anything unless it eventually supports and/or produces sales for the company. Presence and reputation are all important contributors for supporting and producing sales, but leads generated is a more tangible measure that everyone in the company understands. But more than half don’t bother to measure this!
The sole purpose of marketing is to sell more to more people, more often and at higher prices. There is no other reason to do it. ~ Sergio Zyman
The results of these types of surveys can be interpreted in many different ways depending on one’s perspective. The results of this survey are very similar to my own observations and anecdotal information. Maybe it’s an evolutionary process that will shift focus and measurement to more tangible outcomes over time. It will be interesting to see the results of this same survey in subsequent years.
How does this survey correlate with your social media monitoring and measures? What observations do you have about this? Your comments are always welcome.
Copyright © 2010 The Marketing Mélange and Ingistics LLC. http://marketing.infocat.com
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I am fortunate to have worked in a number of roles in marketing and other areas of businesses. I have done, run and led marketing. I have worked in other functions that are impacted by marketing.
I'm a keen observer on how marketing is positioned and perceived within companies and what is expected in return for the marketing budget. The Internet, Web and technology innovations continue to change and
expand marketing approaches and possibilities. Hopefully this blog will in some small way contribute to making marketing more effective for all areas.
