CMO’s Know Social Media Impacts Their Business, But Not Sure How Much

Insight  ⇒  Social Media Brand Usage Will Grow

A new CMO study by McKinsey released in August shows that brands from B2C to B2B will be increasing digital spend at the expense of traditional media

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Digital spend increases will go across all sectors

Social Media gets a large increase forecasted to be up 40% (as a percentage of budgets) in the next 12 months and over double in the next five years

Insight  ⇒  However, Issues Remain in Measuring the Impact on Sales

Social Media Still Not Integrated with Marketing Strategy

Only 15% of CMO’s can show quantitative impacts on the business

Insight  ⇒  Yet, Few Brands are Willing to Increase Human Resources for Social to Improve the Situation

Do This  ⇒  Invest in Social Media if You Expect Business Impacts and Quantification

• Social Media is people conversing and sharing/reviewing their opinions on brands … effectiveness is driven by brands interacting on a 1-to-1 basis to achieve positive brand consideration and preference
• Customer service is a huge aspect of Social Media and human interaction is required to understand the context, in the moment, to solve user issues
• Measure  what matters … ‘followers’ is a useless metric.  Download the ‘Measure What Matters’ white paper  http://pages.zigmarketing.com/site-pt-measurewhatmatters  to get a good starting framework for measuring Social Media brand impacts 

Not That  ⇒  Don’t Rely on Tech to Solve Social Media Effectiveness Issues

• While technology can help automate and create efficiency gains, it does very poorly at interpreting context and interacting with consumers
• Brands only need to look at automated phone customer service solution scores to understand how much consumers abhor talking to automated systems … Social Media automation performs worse

Zig is a Social/Mobile consultancy that drives brand engagement by creating interactive user experiences.  We programmatically reach in-market buyers, at the lowest cost, and move them to conversion.  You can see our work by clicking on the link ⇒ http://www.zigmarketing.com.