Social media has had a dramatic impact on the business world, empowering brands and marketers to build and leverage huge audiences, provide first class, first point customer support and drive traffic, awareness and sales.
Bottom line: everyone wants to grow their fan base. But how can brands measure their return on investment?
In November, Wildfire conducted a global survey of over 700 marketers about their social media ROI, and the impact it has made on their business.
- 97 percent of marketers believe that social media benefits their business
- 75 percent intend to increase their social media marketing spend in 2012
- 94 percent of marketers ranked Facebook as their top social marketing channel, ahead of Twitter (74 percent), blogs (41 percent) and LinkedIn (32 percent)
- Marketers have no standard way to measure social media ROI – 38 percent judge ROI by the number of Facebook Likes received, 24 percent by revenue and 15 percent by the increase in brand awareness
- Just 1 In 10 UK Consumers Use Social Media Sites For Researching Purchases [STUDY]
- 70% Of Brands Response To Customer Complaints On Social Media Within 24 Hours [STUDY]
- Two-Thirds Of UK Twitter Users Follow A Newspaper Brand
- Just 45% Of Brands Have Policy For Dealing With Customer Complaints On Social Media [STUDY]