Social Media Analytics Benchmark Report
Expert
Kristen Maida
Expert
- Jan 31, 2014 12:12 PM
- Completed
In December 2013, we partnered with NetBase to explore how organizations are utilizing social media analytics. The results of the study yielded a number of key takeaways, including:
- Almost two-thirds of organizations are using social media analytics, with medium-sized companies leading the way (medium companies defined by revenues between $26 million and $500 million annually).
- Almost one-third of organizations don’t know how much of their revenue was influenced by or attributed to social media.
- 70% of organizations in this study don’t know what kind of ROI their social media efforts are delivering.
Our Chief Analyst, Jerry Rackley, drew several dynamic conclusions based on the data collected, including:
- Organizations that are essentially social media spectators that make periodic posts and have no analytics tools in place are getting little value.
- Those that are active participants in curating content, engaging customers and gathering intelligence are using social media to gain a strategic advantage. This advantage provides great competitive leverage, and the only way to get it and fully appreciate the value of it is through analytics tools and processes.
- As the use cases for social media continue to evolve toward delivering more powerful insights and enabling deeper customer engagement, an analytics process is imperative.
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Resource Reference
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In a December 2013 study, Demand Metric and Netbase partnered to investigate how companies are enabling and optimizing their social media efforts through the use of analytics.