88% of brands rate social media very important to business
Posted by Manuela Barreto @ February 4th, 2010 in Marketing Analysis
New figures from the Internet Advertising Bureau’s Social Media Council revealed that 88% of UK brands rated social media as important to their business.
The study also shows that advertisers are planning to allocate between 6 and 20% of their digital marketing budgets to social media this year, compared to just 14% in the previous year.
The main reason for this dedicated budget is to drive brand awareness and consideration, as declared by 77% of respondents, while another 75% said to use it to drive engagement and advocacy and 47% to drive product sales.
Though respondents didn’t exactly pinpoint which department should handle all social media initiatives and implementations, the vast majority, 73%, said that the marketing department should cover such activities, whilst another 33% declared it’s a job for the PR department, followed by 16% who said customer services should handle it.
The greatest challenge for the social media industry? 74% respondents declared that providing ROI was the hardest to attain, followed by 64% who made reference to seeing measurable results- a topic we covered on one of our previous articles.
The study revealed the following to be amongst the top social media activities mostly claimed by marketers:
* Twitter & brand monitoring= 51% of respondents
* Facebook Pages= 47% of respondents
* Branded communities= 39% of respondents
* Blogger outreach= 37% of respondents
* Video Distribution= 37% of respondents
* User Generate Content= 37% of respondents
More interesting data from the study includes the percentage of marketers who have not yet embraced social media at all, which made up 7% of respondents. In contrast, 22% of respondents have made it a core part of their communications strategy.
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i am often bumping about the internet almost all of the day as a result I choose...