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Social Media: Business Benchmark and Preparing for the Year Ahead

Friday 14 November 2014

13 minute read

By Sarah Burns

A survey conducted by Harris Poll, on behalf of Hootsuite, finds that the benefits of social media are also the source of many challenges for organisations.

The poll of over 750 companies discovered some key pointers for those strategising social media ready for 2015:

Organisations realise the importance of social media, however, many struggle to capitalise on the data mined from users.

  • Organisations 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 organisations said they were using data gained from social media to improve their bottom line. 60% 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.

These key findings were summarised by Hootsuite.

What it means for your strategy...

If 72% of those taking part in the Hootsuite Social Business Benchmark agree that social media is growing and 88% state they think it helps maintain a competitive edge, that means the majority of companies - including yours, yes you, reading this post - should be implementing social strategies.

But they aren't. Why?

62% revealed they said it was difficult to create a social strategy in the first place.

We disagree. However, we do often hear this complaint.

If you're ready to discuss social strategies and marketing plans, don't hesitate to get in touch with us or visit our specialist social media marketing service page, for our offering. 

We manage over 20 social media accounts and have turned around each and everyone, with clear metrics and analytics to back up our work.

If you'd like to know more about our social media strategy and management services, get in touch via hello@thriveability.co.uk. 

Post written with special acknowledgement to Hootsuite, Social Media Today and Harris Poll.

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