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Big Group

31 Mar 2015
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  1. IMPERIAL COLLEGE OF SCIENCE, TECHNOLOGY AND MEDICINE Imperial College Business School The impact of social media on new business acquisition of digital marketing agency by Maneerat Surasakkamjorn Meng Xue Pichaya Reangrattham Pornchanan Suphayak Weijing Chen Wongpan Wisitrasameewong Word Count: A report submitted in partial fulfillment of the requirements for MSc Strategic Marketing degree July 2014
  2. Table of Contents 1. Executive Summary…………………………………………………………………… 2. Acknowledgement…………………………………………………………………….. 3. Introduction and Background…………………………………………………………… 4. Aims and Objectives………………………………………………………………….. 5. Industry Overview……………………………………………………………………… 5.1 How B2B Business copes with the rise of social media………………………. 5.2 B2B Customer Decision Journey ……………………………………………. 6. Big Group’s current performance on social media platform…………………...... 7. Competitor Analysis…………………………………………………………………….. 8. Primary Research Methodology, Analysis and Findings…………………………….. 9. Conclusions and Recommendations………………………………………………… 10. References……………………………………………………………………………….. 11. Appendices……………………………………………………………………………….
  3. 1. Executive Summary This report explores the overall social media impact of the UK’s leading digital agency, Big Group. The clearest problem being investigated shows that there is no successful industry practice to benchmark and generate useful recommendations for Big Group's social media strategies. Therefore, this report highlights the analyses of the opportunities and challenges facing by Big Group and the strategies being implemented. In order to pursue our objectives of being able to identify the role and impact of social media on agency selection process of Big Group’s clients, primary and secondary researches were implemented including surveys, phone and face to face interview and as well as social media analytics and white paper reports to pursue the important current objectives of leveraging social media to acquire businesses and validate the company’s value as well as to express thought leadership. And more importantly, the recommendations of how might Big Group overcome its challenges as it would not solely rely on social media but also other online and offline platforms in optimizing agency selection of its clients in the future.
  4. 2. Acknowledgements This project would never have been completed without help, time, and support from a number of people. First of all, we would like to express our deepest gratitude to Ed Riseman, Big Group General Manager, for his support and generosity in providing us company’s information, contact lists of the survey respondents, and the office tour. We also would like to acknowledge help from Angela Dalrymple for her professional guidance, advice, and assistance in providing us extra contact lists. It has been greatly appreciated. Finally, special thanks go to a number of interviewees for the primary research part including, marketing directors, marketing officers, procurement officers from various industries, digital marketing agency directors, and digital marketing consultants. Also, we would like to thank our lecturers, Mike Berry for useful insights from the interview. Without supports from these people, we would have never achieved this project.
  5. 3. Introduction and Background “Bringing digital, experiential and creative ideas to life” is a phrase that can be used to best describe Big Group. Founded in 1991, Big Group is a marketing agency that has more than twenty years of expertise in integrated marketing communication. It serves clients from both B2B and B2C sectors by offering consulting services on marketing activities, social media marketing, web design and development, e- commerce, and more. Trading partners of Big Group encompass businesses specifically from tourism, financial, automotive, entertainment and FMCG sectors. The company has been maintaining solid relationships with its past and current clients, such as MasterCard, Audi, Heritage, Royal Mail, Kraft and Hyundai. Hyundai has outsourced its imagery for UK marketing and advertising activities primarily to Big Group (Big Group, 2014). Due to its outstanding performance over the past years, Big Group is the only UK agency ranked among the top five UK digital agencies by Marketing Week magazine for the annual YouGov Interactive Agency Reputation Survey (Econsultancy, n.d.), and it has won many other rewards along the way as well. Nowadays, digital breakthroughs, combined with increasing online business-to- business competition, have presented agencies with big challenges, and at the same time, opportunities (Greenback, 2013). Facing this situation calls for a strategic application of social media to effectively create a competitive advantage. Currently, Big Group is trying to explore what roles social media could play in developing values for B2B businesses. Depending on analytic results, different social platforms
  6. could offer different benefits at each stage of the customer journey. Social media has recently been proven to be the great help in public relations, brand monitoring and interactive communications. Moreover, with the rise of social media trends, B2B companies must be well-equipped with these upcoming and ongoing trends in order to stay competitive in their respective industries.
  7. 4. Aims and Objectives The key objective of this project is to establish an effective B2B social media marketing strategy to increase opportunities in acquiring new businesses. To further illustrate, the project aims to explore the impact of social media in B2B marketing context, especially by evaluating the degree of social media influence on Big Group’s clients purchase decision process in its supply chain, particularly, in procurement and marketing department on agency selection process. The secondary objectives of this project are to validate company’s value proposition to establish Big Group authority in the specialised area and to express thought leadership. These two factors will partly support and contribute to the success of the new business acquisition.
  8. 5. Industry Overview 5.1 How B2B Business copes with the rise of social media B2B companies nowadays involve themselves in the social media world to stay competitive in the industry. According to the B2B Content Marketing Institute, 73% of the B2B marketers utilized social media and produced more content in 2013 than previously, as well as increasing their budgets for social media and content marketing to levels of 30% more on average (Content Marketing, 2013). Research shows that social media is definitely an innovative communication tool that becomes the single most important content source to inform, engage and persuade potential buyers (Kantowitz, 2014). There are still some companies neglecting the use of social media to connect with different agents in their supply chain, and lagging behind in content strategies. Research found that only 64% of UK companies use social media as a marketing tool, meaning that over a third do not (Jensen, n.d.). These companies use social media mainly to create brand awareness, generate demand to further drive inbound leads, and increase revenue: 80% use Facebook, 78% use Twitter, and 51% use LinkedIn (Hotz, 2010). Also, looking at year on year usage figures, several social networks are on the rise as well, including YouTube, Google+, Instagram, Pinterest and Vine (Young, 2013). Moreover, LinkedIn is believed to be the “professional social network” and widely used especially in the B2B industry as it is proven to be almost 300% more effective than Facebook and Twitter for lead generation (Pulizzi, 2014). B2B marketers have acknowledged the value of social media, yet have been slower to adopt social media strategies - only 32% compared with 52% B2C marketers (Kobenschlag, 2014).
  9. Overall, social media in B2B industry as a whole is on the rise. However, there is still a lot of room for businesses to further utilize this communication channel - as of now it is still difficult to accurately quantify how much social media contributes to the overall ROI, compared to other marketing efforts. Social media is still a relatively young marketing channel for B2B marketers, often resulting in an initial wait-and-see approach (Sunrise Packaging, 2011). 5.2 B2B Customer Decision Journey With the prosperity of social media, customer decision-making process is no longer linear path (McKinsey & Company, 2013). To achieve business objective, B2B marketing agencies need to build a thorough understanding of the multi-channel client decision journey.
  10. Step 1: Identification Different from B2C customer, there is no impulse buying in terms of hiring a new agency. Utilizing a mix of online and offline method, clients can identify who the agency is and what it does primarily through organic search and personal networks. Pardot report reveals that 80% of clients utilize organic search (Google, Bing and Yahoo) as a starting point of identification (Pardot, 2013). In-depth analysis of samples also demonstrates the upstream websites clients visited online prior to agency homepage: Google (SapientNitro, 35%), LinkedIn (SapientNitro, 4.8%) and FaceBook (Akqa, 6.8%) (Alexa, 2014) (Appendix from competitor analysis). Personal and social networks altogether account for almost 20% of referrals (Pardot, 2013). Discovery of a prospective agency can be directed from industry expertise, colleagues, senior partners and general influence from external environment.
  11. Notably, in general social media seems irrelevant approaches to reaching the agency, which is especially true in small-sized agencies. Apart from the active path to finding the agency, RFPs(request for proposal) is adopted by a group of clients who lack access to agencies. As a result, they post RFPs on Twitter and digital trade body to passively solicit new ideas(Smart Insights, 2014). Step 2: Research Human interaction offline provides the major source of agency assessment. As agencies consist of people whom client would work with for a long period, they are strongly influenced by people from his network. On online platforms, clients mainly use official websites, intermediary websites, and social media to obtain in-depth data. Agency’s homepage provides clients with solid validation with clearly statement of previous experience, expertise in certain sector and past clients. Statistics show that SapientNitro, a strong competitor of Big Group, could receive 35,615 daily pageviews and 8,687 visitors (Statmyweb, 2014). Intermediary websites, like Agency Spotter and Creative Brief, serve useful purpose of displaying rankings, reviews and creative testimonials. Social media can offer agency profile, updated news and even brand positioning. Twitter has the unique function of stating the tone of the agency, which is a strong indicator of brand personality (Tina, 2014). LinkedIn is proved to be the most relevant social tool when searching for contact information and professional solutions. These social media
  12. performances altogether demonstrate agency’s profession in delivering creative marketing results. Step 3: Evaluation Once clients have formed a list of viable agencies, they begin to identify each option through conference call and visitation. Then, the selection unit will make further evaluation based on relevant criteria (Industrial marketing management, 1988). The overwhelming importance of personal chemistry in selecting agency is justified by interviewee and secondary data. Surprisingly, B2B customers showed approximately 60% higher potential of considering, purchasing and paying a higher price when strong connections existing between client and agency (CEB Marketing Leadership Council™, 2013). Relevant experience and expertise are among the top selection criteria. Moreover, creativity of the marketing agency is highly related to its competence. Finally, geography, track record, time availability, and budget are the most straightforward factors that could determine the transaction.
  13. The impact of social media is minimal due to the essence of B2B business, which involves real people and millions of money (Matt, 2014). Step 4: Decision Through evaluation, the less qualified agencies are eliminated and a couple of candidates are left to the final round. The common decision routine includes chemistry meeting, formal pitch and final presentation (Industrial marketing management, 1988). In this process, people-to-people meeting undoubtedly has the greatest influence on final decision.
  14. In most cases, the selection unit contains the head of marketing department who makes purchase decision and procurement people that are in charge of negotiation, contract and financial issue. The decision-making pattern varies from company to company, including evaluation scoreboard and casual discussion among colleagues. However, it should be pointed out that no decision is made based on agency’s social media performance (Kerry, 2014). Step 5: Post-purchase In post-purchase phase, the validation of previous work and client-agency relationship are determinant factors in maintaining cooperation. On business level, clients look at the quantitative results of previous work. Whether the agency is acting as a helping hand to achieve clients’ business goals or not highly affects the client’s evaluations (Gary Howard, 2014). On personal level, open communication through Twitter could largely improve the relationship. However, the positive influence is limited since the purchase decision is down to selection unit instead of individual (John, 2014).
  15. 6. Big Group’s current performance on social media platform Nowadays, social media is no longer limited to customer relationship and community management domains, but also includs research, insights, creative content, strategy, reputation management and many other aspects. As social media has become more accessible during the past few years, research by IAB and LBi (2012) has found that this factor has become one of the top reasons among 39% of UK organizations to increase their usage of social media as one of their business tools. Although the use of social media has yet to count as its main priority, for Big Group the purpose of a social media platform can somewhat dictate higher business performance and assist in improving company’s reputation. To ensure attractiveness and a variety of content as well as industry relevance, Big Group has broken down its social content into four areas, which are events and history, brand personality, case studies and client works, and industry comments and blogs. Apart from its rich, well-designed and interactive web page, Big Group is currently active in three social media platforms, namely Facebook, Twitter and LinkedIn. With up-to-date and tailored content, Big Group has been aiming at sharing the Big Group family story and integrating these three social networks as part of its strategic communication plan. Facebook Big Group has used Facebook since 2011 as its main channel to share and show case , featuring a number of welcoming posts for new employees, instant activity updates and behind-the-scenes photos of its latest projects (Appendix 1&2). Besides showing office
  16. personality, one of the goals of its Facebook fan page is also to drive traffic to the brand’s website and blog posts. In addition to company updates, recent posts include key digital trends from around the world that help develop brand relevance and specialisms in the mind of consumers. By posting more educational and industry-related content, Big Group can signify the brand’s innovativeness and establish a thought leadership position, as seen in research showing that the vast majority of B2B IT buyers preferred social and educational content as opposed to promotional content (IDG Connect, 2014). Most popular posts with a higher rate of engagement, i.e. receiving more likes and comments, are mostly related to the showcasing of Big Group’s community and office atmosphere. This can fulfill the use of social media as an employee retention and new talent acquisition tool. However, having relatively low engagement and talking about rates in general (Appendix 3), Big Group’s Facebook fan page seems to currently serve as a one-way communication channel only, which can encourage higher levels of brand transparency but tends to engage only current employeesand not many external parties. Twitter Having similar content to its Facebook page, but with more immediate and real-time updates on company’s current activities, Big Group’s Twitter account features several insightful Tweets showing what is going on with regard to key digital and media trends (Appendix 4). Frequent Tweeted topics are related to advertising, marketing, PR, social
  17. media and Twitter (Twitalyzer, 2014), however, the overall retweet rate is considerably lower which could be due to the fact that Big Group is a B2B company with an insufficient number of active followers and shareable content – having low Twitter activity at the rate of 0.7 posts per day, but being able to maintain an average engagement rate of 29 retweets from other people per 100 of Big Group’s tweets (Appendix 5). All in all, according to one of the social analysis tools, Twitalyzer, Big Group is considered as a Casual Twitter User, or low-influence Twitter User, which gained a relatively low impact score at 0.3 on average along with a Klout score of 44 out of 100 (Appendix 6), implying that each tweet from Big Group is unable to draw the attention of its followers. This may also be the result of having a weak network of influencers. Still, there is a growing number of Big Group’s Twitter followers within the past few months (Appendix 7). LinkedIn Big Group’s LinkedIn presence directly serves as both the company’s recruitment and marketing tool since most of the posts concentrate on human resources and recruitment updates as well as an in-depth company profile to further confirm the company’s reputation and success stories to potential customers (LinkedIn, 2014). In terms of overall content, some of them are similar to the ones posted on the other two social media channels, Facebook and Twitter, with each post containing an easy access to web links that could generate traffic and integrate all of its social media platforms
  18. together. Most posts on Big Group’s LinkedIn page are also linked with the company’s blog which offers useful and insightful information on digital marketing and innovative trends. Last but not least, Big Group has used LinkedIn to promote its brand new innovative product, called Mention.to, by creating a separate showcase LinkedIn page specifically for this product (LinkedIn, 2014). With regard to its performance, LinkedIn is still not very active if compared to the previously mentioned social media platforms.
  19. 7. Competitor Analysis *This page has been slightly updated, please proof read it again Besides the thorough understanding of social media in the world of B2B commerce, and its impact on B2B digital agencies, Big Group should study the external environment through analysis of key competitors’ social performance in order to find industry benchmarks and take implications from their strengths and weaknesses. This section provides a general industry review based on analysis of 10 digital marketing agencies’ social performance, with specific focus on Big Group’s three most established competitors, namely R/GA, SapientNitro, and DigitasLBi UK, together with two equivalent direct competitors, namely Rufus Leonard and Code Computerlove. Secondary research shows the most utilized social media platforms for digital marketing agencies are Facebook(%), Twitter(%), and Linkedin (%). As a part agency’s integrated marketing communication strategy, they lead visitors to other agency properties, including agency website, product website, recent client campaigns and official blogs. Agencies averagely allocate around 10% of the agency team effort into social media and community management so as to generate actual attention for the agency. (B,J. 2012) Generally, the degree of social reaction and performance is positively related to the size of the agency and the revenue generated, Secondary research has shown that social media, especially Linkedin and Facebook, contribute to around 2% - 5% of website traffic for the larger agencies. In contrast, it has a very limited impact on smaller -sized agencies’ website traffic. (Appendix 7 ). Top performers undoubtedly are the two industry leaders, R/GA and SapientNitro. Being global digital agencies, they are able to build a large community and impact across all its
  20. social media channels, gaining the highest Klout Score. For further analysis of competitors refer to Appendix XX-XX (Klout, 2013)
  21. Facebook (Socialbakers, 2014)
  22. (Wildfire, 2014) R/GA remains the most popular on Facebook, having the largest fan-base of all brands with 22,623 likes, followed by SapientNitro. Their large community can be attributed to the success of their digital marketing services and global expansion. The strength of these two big digital agencies is evident by their higher engagement rate, resulting in a rapid increase in followers since January 2012 (Wildfire, 2014). Both R/GA and SapientNitro Facebook fan pages are very active as they regularly post interesting insights and digital trends aggregated from various online sources such as adweek.com, theatlantic.com, etc. Yet acting as an online content curator, R/GA has managed to better engage its current followers by consistently creating shareable content (Appendix 1), leading the brand to gain more likes and shares per post, while most of the SapientNitro posts are linked with its SapientNitro blog posts to encourage web traffic.
  23. On the other hand, smaller UK digital agencies Rufus Leonard and Code Computerlove tend to focus on engaging internal parties, but have yet to reach out to new followers as the majority of their posts are related to internal communication, for example company events, job vacancies, personnel updates, etc., which is a similar scenario to the current Big Group’s Facebook page resulting in a lower ‘talked about’ and share rate than global agencies (Appendix 2). From these findings, to differentiate a brand from its competition, Facebook can definitely play an important role in representing the brand’s thought leadership by providing not just ordinary content, but rather offering new and surprising content that addresses its clients’ issues.
  24. Twitter (Wildfire by Google, 2014) The growth rate of social media followers speaks for the development of the agencies’ influence in their own sector (Wood,B. 2013). Primary research shows that Twitter is a key step involved in examining an agency’s thought processes and level of communication with its audience, which validates the agency’s expertise within the digital marketing industry (Tina, 2014). Apart from that, marketing people are most likely
  25. to be attracted to a distinctive brand personality reflected on Twitter (Carrie, 2014). Therefore, the engagement rate and content management are significant in improving social media performance. According to Wildfire (2014), R/GA leads the industry in terms of growing Twitter influence, followed by SapientNitro and DigitalsLBi UK. Generally, the best top three performers feature a higher update frequency, a more engaging audience group, and more active conversations (Appendix 3). Amongst these, R/GA has the highest social authority ranking. The content breakdown analysis indicates that R/GA has differentiated itself using a wider variety of topics, a sharp brand personality and a consistent tone of communication in its tweets - with the majority of links coming from digiday.com, nypost.com, and m.adage.com, which cover various appealing topics including social issues, industry hot topics, etc. In comparison, a common content strategy has been applied by lower-ranking UK agencies which are to keep followers informed of agency news and services. For example, DigitalsLBi UK, Rufus Leonard and Code Computerlove mainly share links from their own official websites (Appendix 4). Interestingly, the most popular tweets from R/GA, showing a witty, entertaining, and sometimes sarcastic tweeting style, gain the highest engagement rate (Appendix 5). These tweeting styles from R/GA can well demonstrate its strong brand personality that sets it apart from the other agencies’ feeds.
  26. The majority of twitter interaction is among the people who are already acquaintances or supporters of the agency (Appendix 6) (Baer,J. 2012). However, frequent interaction with more influential Twitter users helps grow the agency’s social impact as well. Linkedin Linkedin appears to be a powerful social media platform for the digital agencies - by having a relatively higher number of followers, compared to Twitter and Facebook (Linkedin, 2014). The three global digital agencies - DigitasLBi; R/GA; and SapientNitro - demonstrate a stronger presence on Linkedin, with higher engagement, than the UK agencies (Rival IQ, 2014). This is due to their global reputation, wider network of affiliated Linkedin pages, and frequent updates made over time. The topics posted on Linkedin are usually success stories of the companies, as well as industry updates and insights. The global digital agencies have utilized the “Careers” section consistently with a high number of job openings - showing that Linkedin is also another channel for the companies to recruit new employees. In contrast, the UK agencies have very limited or no updates at all on Linkedin: Rufus Leonard has posted some updates on its success and company updates on internship/job opportunities on the Home page, despite having the “Careers” section with no active job openings. In addition, Code Computerlove has created its Linkedin profile, but the company does not seem to utilize Linkedin as its communication channel, for example showing no post/updates on the Home page. From the analysis it can be seen that Linkedin can be used as an influential platform to regularly share companies’ engagement and success stories among people and companies within the industry – emphasizing companies’ transparency – and, at the same time, it can also be utilized as an effective recruitment platform, as companies can
  27. specifically target potential employees by looking through the published profiles on such a professional network. Source: Rival IQ
  28. 8. Primary Research Methodology, Analysis and Findings Primary Research Methodology In-depth interview were conducted with 4 groups of prospect business partners: marketing director from client company, expert from 3rd party agency, procurement specialist and CEO of digital marketing agency. Interviews with first 3 groups provided practical insights in understanding the whole agency selection journey from client’s standpoint. Feedbacks from marketing people and 3rd party agencies were of great importance in understanding the top agency selection criteria and searching platforms on which Big Group could optimize its content. On the other hand, interview with competitors offered not only a benchmark of the current usage of social media, but also a glimpse of opportunities to enhance Big Group’s social media performance. Findings and analysis 1. Key agency selection criteria General interviewees noted that relevant experience and expertise in specific sector are always among the most important attributes. Previous performance and past clients are essential indicators of agencies’ competence, which has huge impacts on final customer decision. Besides, many a number of respondents said that personal chemistry, whether the agency could be on good terms with the client or not, is largely taken into consideration. Team-orientation, organizational culture, working environment, and more importantly, emotional linkage between two sides, are of great significance in evaluating an agency.
  29. Additionally, quite a few interviewees referred to rigid factors: geography, track record, availability, and particularly cost, which is the most straightforward determinant in negotiation. Quotes: ML, Paypal : “Three main criteria when choosing agency at all levels are first, will they do an amazing job. I will also look at their past clients and pitch presentation. Second, will they be good and easy to work with? And cost, of course.” KG, AAR: “People, core capabilities – they need to show what they are good at. Expertise, personal chemistry is very important. Also in the pitch scenario, they will need to be able to show that they are confident, comfortable, and promise to deliver an amazing job.” 2. Identification of candidate agencies The respondents mentioned multiple sources of information as a start-point for candidate agencies selection. Search engine and peer recommendation were the most commonly used channels. This implicates the significance for agencies to optimize SEO strategy, and meanwhile manage a well-established brand reputation both online and offline. A peer recommendation was mainly articulated to happen through face-to-face conversations from an individual’s networks at the occasion of business networking events, supplier exhibitions or casual meetings with colleagues, just to name a few.
  30. Some respondents also mentioned recommendations from LinkedIn groups, however, the influence of LinkedIn is on a mild declination. Relatively speaking, peer recommendation carries the most credibility than search engine results and Linkedin groups when developing a candidate list. Quotes: IT, Proxima: “SM is helping us to be seen more widely. Organizations worldwide can see us.” JM, Cleeview Limited: “A B2B buying journey could be triggered by an external stimulation. A marketing agency can use social media to maximize that stimulus.” TF, Consultant: “To select candidates, I used to refer to LinkedIn procurement groups. But not any more. They are not as reliable as before.” 3. Key research platforms Official website, intermediary website, and social media are key online platforms in searching for agency insights. Almost every interviewee from client side was willing to spend a large amount of time on agency’s official website. They believed the homepage provides solid background information of agencies’ expertise, experience and past clients. Several interviewees mentioned visiting intermediary website to gain insights. That is where marketing people could acknowledge testimonials, rankings and customer
  31. reviews of each candidate. Creative Brief, Quora and IPA were frequently recommended for agencies to enhance their visibility and optimize their content. Interviewees from client and 3rd party noted that social media is commonly used to leverage engagement, creative efforts and brand personality, which are significant attributes in evaluating the company performance. Quotes: MB, Consultant: “The core media is their own website. The presence of social media is of defensive reason: just be there on social media and hopefully it could be more influential in the near future.” KG, AAR: “Social media pages are good starting-point to find agency’s tone and positioning, and agencies don’t pay enough attention to it.” 4. The major function of social media in acquiring new clients The majority of interviewees used social media to effectively evaluate agencies’ marketing performance. To be specific, several of them mentioned LinkedIn and Twitter, as these two platforms offer useful information on agency profile, contact information, updated news and brand personality. However, interviewees generally agreed that client-agency relationship is basically a human relationship that is largely influenced by people-to-people meeting rather than social media. Social media platforms could be irrelevant in choosing the people that clients would work with on daily basis.
  32. A number of interviewees further pointed out that B2B purchase are usually made by a decision unit. Social media might influence individual’s opinion on specific agency, but it cannot determine the deal. To conclude, the major function of social media is to help agencies provide positive online presence and enable them to reach out to more prospective clients without the limitation of location or time. Hence, it is essential for agencies to enhance and maintain a high level of visibility on social media. Quotes: KG, AAR: “They never make any judgment based on social media. Clients may be interested in their feed, but social media is not a determinant factor.” JM, Consultant: “It may have influence on one person, but not big enough to change the whole group’s idea.” 5. Social media management A Hub & Spoke management structure is most applicable for digital marketing agencies. Employees are granted the freedom to post anything in accordance with the acknowledged social media policy. This is to ensure the information authenticity and security. Respondents noted that it would be difficult to measure the ROI of social media, but would be easier to operate on a campaign level. For example, they would measure the numbers of sales, conversion, click-through rates, number of completed survey, new
  33. sign-ups from database, engagement rates including shares, rewards, retweets, likes, pins etc. by using analytical tools including Radient6, Hotspot, Twtrland, Alexa, Brandwatch, klout, SimplyMeasured. The majority of respondents implied that they would prefer to maintain the current level of investment on social media, mainly because as a medium-sized independent agency, social media had not shown a significant value in attracting new business opportunities. Quotes: JM, Consultant: “Probably not , leave it to the current level.” GJ, FKC London: “Yes we have a central social media policy that is strictly followed by our digital marketing team.” GJ, FKC London: “We do not measure social media ROI, because the pure client acquisition from social media is 0.” GJ, FKC London: “The current social media account for no more than 5% of the agency’s activity. So maybe I would keep it at the current level.” List of interviewees
  34. 9. Conclusions and Recommendations
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