95% of Companies Have Tried Social Media; 40% Didn’t Inhale!

There are so many great findings in Econsultancy and bigmouthmedia’s Social Media and Online PR Report 2010 I barely know where to start!

This will probably be one of the few reports you’ll want to spend dollars on this year, although I will add one caveat: the data is skewed towards the UK. That aside, here’s a sample of some of the insights:

1. While 95% of companies have added social media to their marketing mix, 45% have either only “experimented” or not done anything in social media. Really? Do these companies also turn away 45% of all customers? They may as well!

2. If you think that’s hard to believe, take a look at this chart! With the exception of corporate blogs, there’s a decline in the use of every social media tactic under the sun! Maybe if these companies focused on more than “experimenting” with social media they’d find that it offers a long-term benefit to their business. Perhaps they focused too much on the immediate ROI and, when that instant gratification failed to materialize, became disillusioned.

3. And what about their PR campaigns? I am astounded that there has been a decline in the proportion of PR activity taking place online! What, was it too difficult to figure out? Was it just too hard to actually interact with journalists, bloggers, and other influentials? Was it easier to go back to blasting out press releases? Does someone need a hug? :-P

Want more? Wait til you see the astonishing findings on companies’ use of online reputation monitoring!

  • http://www.venderepartners.com Garrett Hollander

    It’s certainly an interesting topic. When you said that,”While 95% of companies have added social media to their marketing mix, 45% have either only “experimented” or not done anything in social media. Really? Do these companies also turn away 45% of all customers? They may as well!”, it certainly made me stop and think. Here at Vendere Partners, our B2B lead generation company definitely uses the Social Media. You have to keep up with the time!!!

  • http://www.socialmediatoolscentral.com SocialMediaCentral

    Social media has really helped a lot in almost everybody’s business.

  • http://www.evoice.com Ron

    While I agree that social media has incredible value, I hardly think it’s fair to say that it compares to turning away 45% of your business. Likewise, many of the areas listed just haven’t been proven to be good channels for acquisition. Engagement, yes – but not for acquiring new customers. As for PR, well it’s pretty easy to recognize the difference between targeted customers and those who are not – PR has a tendency to drive unqualified traffic to a website. Businesses who remain focused on allocating ad dollars to acquisition have realized this and made adjustments to where they focus efforts.

  • http://www.mattshawblog.com Matt Shaw

    Okay, but of the 40% who experimented, how many of them did anything beyond setting up social media accounts to repost blog entries and press releases? I’m thinking that the number of companies who don’t use social media is actually much higher than 5% if we say that using social channels once a week or less constitutes “non-use”.

    I think that if you were to dig into the number of people who truly did experiment heavily with social media in 2009, you’d find a growth of activity in 2010. Anyone have numbers to support this?

  • http://social-media-mangement.com Ron

    I think it’s amazing how little most companies know and understand about social media marketing. Although more and more are jumping on board, most really have no clue where to start and basically, what they must do on a day to day basis.

    Those that misuse the social networks in their marketing efforts are certainly turning away a lot of potential customers…and that number will only increase as this keeps on rolling.

    • Cynthia

      This is the problem. I’ve talked to many clients who believe that simply putting up a Facebook Fan Page will bring them results. They have no idea how much time and creativity it takes to keep up and nurture any form of social media marketing.

  • Kain

    I’m not convinced that social media is worth it.

    I’m a regular user of these sites and never once bought, clicked on an ad or purchased anything from a link I’ve followed through social media.

    OK I admit I have followed links from it :)

    If you are a large business with more people than you know what to do with maybe you can afford to spend time on it but for most companies an hour spent on the phone cold calling potential customers will produce more results than playing with virtual goldfish on Facebook.

    One study I would really like to see is the hours spent on social media vs. the results received.

    I would expect it would be cheaper to use Adwords or similar to generate traffic when you consider the hourly rate you would pay someone (or yourself) to make blog posts, facebook posts , twitter posts etc.

  • http://www.winwebsolutionz.com Web Design Company Chenai

    As sure If PR websites provide feautres as what social media is providing, possibly their traffic to got to peak..