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Why Social Media Projects Fail?! – A European Perspective

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  • Very interesting perspective from a Euro standpoint. Social Media is a proven marketing and revenue tool in the U.S. - Perhaps it is a cultural thing that cannot connect the true value of Social Media. I will admit that Social Media is often miss-understood, but with the right integration in the overall marketing and communication strategy, it can be a valuable asset.
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Why Social Media Projects Fail?! – A European Perspective

  1. BSI<br />WhySocial Media Projects Fail?! – A European Perspective<br />Brand Science Institute, 17th August 2010<br />
  2. S<br />R<br />P<br />V<br />L<br />T<br />L<br />Wedid an undercoverstudyforthe last 7 months in 12 countries acrossEuropesbiggestcompaniesto understand: <br />„Whatgoeswrong?“<br />563 marketersfrom 52 Brands wereinvolved!<br />P<br />
  3. CRM?<br />RESEARCH?<br />ADVERTISING?<br />81% OF ALL COMPANIES DON‘T HAVE A CLEAR SOCIAL MEDIA STRATEGY!<br />MARKETING?<br />PR?<br />
  4. CORPORATES TEND TO TAKE TWICE AS LONG AS START-UPS FOR SOCIAL MEDIA PROJECTS<br />
  5. ONLY 7% UNDERSTAND THE REAL VALUE OF CUSTOMER INTERACTIONS!<br />
  6. ONLY 27% HAVE A CLEAR UNDERSTANDING OF THEIR CUSTOMERS<br />
  7. SOCIAL MEDIA PROJECTS ARE THREE TIMES MORE UNDER CONTROL<br />
  8. Show me the money!<br />73% HAD TO SHOW THE MONEY AFTER 12 MONTHS<br />
  9. 76% FEEL THAT LEGAL DEPARTMENTS HINDER SOCIAL MEDIA PROJECTS <br />
  10. 87% HAD TO CORRECT THEIR SOCIAL MEDIA EXPECTATIONS<br />
  11. 72% THOUGHT SOCIAL MEDIA MUST BE VIRAL<br />
  12. 68% NEVER HEARD OF THE 1-9-90 RULE<br />Ein halbes Prozent aller aktiv gewordenen Nutzer ist für fast zwei Drittel der Editierungen verantwortlich - ein Kreis von nicht einmal 2000 Personen.<br />Wikipedia könnte nicht funktionieren ohne diesen harten Kern, die WikipedianerSpiegel 16/2010<br />
  13. 84% COMPARE SOCIAL MEDIA PERFORMANCE WITH STANDARD MEDIA MEASURES<br />
  14. 76% DON‘T MODERATE SOCIAL MEDIA PROJECTS ACCURATELY (IF AT ALL)<br />
  15. ONLY 7% UNDERSTAND THE CRM VALUE OF SOCIAL MEDIA<br />
  16. 91% ALLOCATE BUDGETS THE WRONG WAY!<br />K<br />Social Media<br />Traditional Marketing/Media<br />t<br />
  17. 37% THINK THAT SOCIAL MEDIA IS A MEDIA BUY <br />
  18. 53% WERE STEPPING INTO THE GEEK-TRAP<br />
  19. 92% ARE NOT AWARE OF THEIR FB DEPENDENCY<br />*<br />e.g. Like-Value: $0.25<br />= $ 361.121,25<br />
  20. 71% TAKE EXPENSIVE UPFRONT INVESTMENTS TO SECURE TECHNICAL FUNCTIONALITY<br />
  21. ONLY 11% HAVE SOCIAL MEDIA GUIDELINES<br />
  22. 86% DON‘T HAVE A CLUE HOW TO HANDLE A SOCIAL MEDIA BACKLASH<br />86% DON‘T HAVE MANUALS HOW TO HANDLE A SOCIAL MEDIA BACKLASH<br />
  23. ONLY 4% SHARE THEIR SOCIAL MEDIA EXPERIENCE THROUGHOUT THE COMPANY<br />
  24. WWW.BSI.AG<br />

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