The Declining Value of Social Marketing

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Is social media a marketer’s dream, or a dreadful nightmare that just does not seem to go away?  Is everybody using it, or are people just hopping on board right as the calendar changes to 2014?  NextStage surveyed 1,700 U.S. and Canada-based companies about their own social media use, and the results may surprise you.

It is first important to get some context on exactly what social marketing entails.  Social marketing means creating a social presence and using that social presence to drive conversions.  Conversions cover everything from loyalty to acquisition to retention, and even customer service.

All interviewees were director level and above, knowledgeable social managers with two or more years’ experience in social, with more years in marketing in general.  Companies ranged from mom and pop shops to Fortune 100 corporations.  Wide varieties of tools were used to glean information about social campaigns including Expion, Google Anayltics, HootSuite and ReviewAnalyst among others.

So what did these businesses think?  Would they do it all over again?

Marketers who said they are new to social media: 6%

It almost seems like a cardinal sin for a marketing manager to have at least two years of experience on the job and still claim to be new to social media.

That being said, with so many social media platforms out there, it stands to reason that some marketing managers may be new to outlets like Pinterest, Instagram or Reddit.  Part of people’s newness claims did amount to an inability to keep up.  One respondent even said, “We’re not sure the platform we need is out there yet.”

That “which platform” question will be a considerable challenge for marketers in 2014 and beyond.

Marketer who said they were happy with social media: 7.75%

This low a percentage should not be a real surprise to marketers.  All successful efforts came down to four essential details.  The top two spots in this regard were knowing and respecting their audience.  Those who claimed success talked about knowing their audience and showing it respect.

Respect came in several forms including shared interests, shared social causes and shared social beliefs.  Letting an audience have a say and digital transparency that was seconded on non-digital channels were also highly ranked.

The third basic element for success was the old “location, location, location” slogan.   You want to go where your audience is, while not trying to push them in a direction where they do not wish to go.

The final element was deciding what to measure and then finding or making the tool that could accurately measure it.  A marketing manager’s office is a revolving door of vendors with lots of solid products, but they have to be the correct product for what you are attempting to measure.

Marketer who said they are going to “do something else”:  10.5%

This can include everything from revamping social marketing campaigns to completely rebuilding social teams to everything in-between.  Although these people are unhappy with their results, they are not unhappy enough to abandon social media altogether.  However, they are just unhappy enough to consider alternative spends.

Did these companies consider this social spending a waste of money?  Definitely not.  All of them considered their social campaigns learning experiences, and most believed that the campaigns simply did not succeed as well as they would have liked.

To find out what percentage of companies were dissatisfied with social, and where the rest of respondents fell on the survey, click here.

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