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By Liam Dowd - October 29th, 2014
Finding and retaining influential customers, Twitter Q3 results and why businesses still struggle to show social value
Record sales at Twitter, but business slowing
Finding and retaining influential customers
Businesses still struggling to show social value
- Organizations realize the importance of social media, however, many struggle to capitalize on the data mined from users.
- Organizations cite social as important: The majority of respondents (88%) agree that social media is important to maintain a competitive edge.
- Data insights are rarely used: Less than half (40%) of these organizations said they were using data gained from social media to improve their bottom line. Sixty per cent stated they were challenged to find actionable use for data collected.
- Use of social media is becoming more widespread across all departments, yet departments are not always working together.
- Social is increasing across departments: Nearly three in four respondents (72%) agree the number of departments using social media is growing.
- Aligning campaigns is a challenge: A majority (64%) of respondents whose social media strategy is at least somewhat aligned stated that aligning strategy across departments was difficult.
- Strategy does not come easy: 62% of respondents said that creating a social media strategy was difficult in the first place.
- Social media is the new way to interact with customers and influencers.
- Building relationships and reputation: A majority of respondents (84%) view enhancing relationships with existing customers as an area social media can contribute value to, as well as the ability to learn about the company’s reputation (81%), and to monitor external communication (79%).
- Social viewed as best vehicle to engage with audiences: 73% of respondents value social media’s capability to resolve customer complaints and questions.
Businesses still don’t consider themselves to be social
- Drive internal and external collaboration
- Build, educate and protect the workforce.
- Understand and engage customers.
- Mine community expertise.
- Improve business processes.
November 2014, London
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