Social Media Marketing 2010: Hype or Real? By Roy Young
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Based on interviews with over 5,000 marketers, MarketingProfs published a comprehensive research report on the State of Social Media Marketing in 2010. This presentation provides highlights from the research.
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Social Media Marketing 2010: Hype or Real? By Roy Young
- 1. The State of Social Media Marketing 2010: Hype or Real Business Impact? Roy Young, President MarketingProfs
- 2. State of Social Media Marketing • 5,168 marketing and business professionals responded to a general survey on marketing practices – 64% (3,285) indicated that social media is one of their job responsibilities
- 3. Agenda: Highlights from the Research 1. Usage and Effectiveness Benchmarks 2. 7 Myths of Social Media Marketing Practice
- 4. Social Media Marketing Benchmarks: • What is used? • What is effective?
- 5. • Of marketers surveyed, 48% have employers with an active corporate Facebook account • And 43% have employers with an active corporate Twitter account. 13
- 6. • Content Sellers (Entertainment, Publishing, Software, etc.) are industries most likely to participate in public social networks • Highly regulated industries are least likely to participate, including Pharma, Insurance, Telecomm, Government and Financial Services.
- 7. • Most industries favor Facebook over Twitter • Online retailers most likely to use Twitter and Facebook • Tech and Biotech favor Twitter 13.8
- 8. • Bars show additive share of usage for each medium by organization type. • Similar usage patterns for all organization types, with Non-Profits being above average in use of each of the major social networks 65.1
- 9. • The larger the company, the more restrictive the management of social media usage • Combining green, yellow and orange (the bottom 3 slices), we find 50% of large companies with very tight controls on usage vs. only 17% of small companies. 66 (2)
- 10. • “Earned” means media not directly paid for • Surprisingly similar usage rates among B2B and B2C organizations. • Email to house list is the most commonly used form of earned media. • As for social media, public online communities are used by over a third of companies; blogs by about a third; and videos for viral use by about a fourth of all companies 12.1
- 11. • Driving traffic is the primary goal of most Twitter users 18
- 12. • Monitoring for real- time PR problems the most effective Twitter tactic • B2C seeing slightly better, and different, results than B2B 18.2
- 13. • Many ways to use Facebook • Most marketers hoping to drive traffic to corporate sites/materials from Facebook 19
- 14. • Driving traffic less likely to be successful than other tactics • Most tactics enjoy similar success rates whether B2B or B2C 19.2
- 15. • Driving traffic less likely to be successful than other tactics • Most tactics enjoy similar success rates whether B2B or B2C 19.2
- 16. • For B2B, YouTube is an effective home for expensive TV ads • Reaching out to individuals rarely very effective on YouTube 20.2
- 17. 7 Myths of Social Media Marketing Practice: 1. Marketing departments are hiring social media specialists 2. Social Media communications is free 3. Social Media is just for the kids 4. The bigger the Twitter network the better 5. B2B is totally different from B2C 6. Corporate culture constrains usage and effectiveness 7. Free analytics software is all you need for measurement
- 18. Myth #1: Marketing departments are actually NOT hiring social media specialists • 61% are folks doing this work in addition to their defined role • And 32% have social media responsibilities as just part of their job.
- 19. Myth #2: Social media marketing is NOT free. Budget for social media in terms of staff time, not media spend and Myth #3: Social Media is NOT just for the kids. • High-level executives are more likely to be active in social media than not active, making that time more costly. • Young staff may not have the experience to be leaders in social spaces. 1.1
- 20. Myth #4: Large Twitter networks are NOT necessarily more valuable than smaller networks • Majority of Twitter users have far fewer than 1,000 followers • Raising the question “is quality or quantity more important when it comes to Twitter followers?” 14.6
- 21. Myth #5: B2B is NOT significantly different from B2C social media marketing. • Surprisingly similar usage rates of “earned media” among B2B and B2C organizations. • Email to house list is the most commonly used form of earned media. • As for social media, public online communities are used by over a third of companies; blogs by about a third; and videos for viral use by about a fourth of all companies 12.1
- 22. Myth #6: Success Requires a Company Culture of Openness Have Had Success Creating an Online Community Around a Brand Company Cultural Attribute Agree Disagree Quick to adopt new media technology 55% 28% Value open, honest dialogue about marketing 47% 27% THANK YOU! Encourages collaboration between marketing 48% 28% and others Uses consumer feedback productively to 45% 34% improve the offering
- 23. Myth #7: free analytics software is NOT alone enough. • Nearly every measurement option is mostly “helpful” (blue and orange sections of bar) • Traditional web analytics tools score higher than new social media monitoring tools for robust measurement 39
- 24. For information, go to: http://bit.ly/8kjHHx THANK YOU!