©IDG Communications, Inc. Photo contributed by Matthew Mikaelian.
Social media isn’t being properly used or measured. So says a new survey from SAS and Harvard Business Review and the Cary, NC-based analytics powerhouse aims to change that with new analytics products.
First, the study. According to the upcoming Harvard Business Review article, “despite the vast potential social media brings, many companies seem focused on social media activity primarily as a one-way promotional channel, and have yet to capitalize on the ability to not only listen to, but analyze, consumer conversations and turn the information into insights that impact the bottom line.” As evidence the piece cites a recent survey by SAS in which 75% of the companies said they did not know where their most valuable customers were talking about them. Nearly one-third (31%) do not measure effectiveness of social media. Less than one-quarter (23%) are using social media analytic tools. And a fraction (7%) of participating companies are able to integrate social media into their marketing activities. Only 12% said they felt they were currently effective users of social media. These were the companies most likely to deploy multiple channels, use metrics, have a strategy for social media use, and integrate their social media into their overall marketing operations.