Social Media Marketing 2010: Hype or Real? By Roy Young
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Transcript of Social Media Marketing 2010: Hype or Real? By Roy Young
The State of Social Media
Marketing 2010:
Hype or Real Business Impact?
Roy Young, President
MarketingProfs
State of Social Media Marketing
• 5,168 marketing and business
professionals responded to a general
survey on marketing practices – 64% (3,285) indicated that social media is one of their
job responsibilities
Agenda: Highlights from the Research
1. Usage and Effectiveness Benchmarks
2. 7 Myths of Social Media Marketing Practice
Social Media Marketing Benchmarks:
• What is used?
• What is effective?
• Of marketers
surveyed, 48% have
employers with an
active corporate
Facebook account
• And 43% have
employers with an
active corporate
Twitter account.
13
• Content Sellers
(Entertainment,
Publishing, Software,
etc.) are industries
most likely to
participate in public
social networks
• Highly regulated
industries are least
likely to participate,
including Pharma,
Insurance,
Telecomm,
Government and
Financial Services.
• Most industries favor
Facebook over
• Online retailers most
likely to use Twitter
and Facebook
• Tech and Biotech
favor Twitter
13.8
• Bars show additive
share of usage for
each medium by
organization type.
• Similar usage
patterns for all
organization types,
with Non-Profits
being above
average in use of
each of the major
social networks
65.1
• The larger the
company, the
more
restrictive the
management
of social
media usage
• Combining
green, yellow
and orange
(the bottom 3
slices), we
find 50% of
large
companies
with very tight
controls on
usage vs.
only 17% of
small
companies.
66 (2)
• “Earned” means
media not directly paid
for
• Surprisingly similar
usage rates among
B2B and B2C
organizations.
• Email to house list is
the most commonly
used form of earned
media.
• As for social media,
public online
communities are used
by over a third of
companies; blogs by
about a third; and
videos for viral use by
about a fourth of all
companies
12.1
• Driving traffic is the
primary goal of most
Twitter users
18
• Monitoring for real-
time PR problems the
most effective Twitter
tactic
• B2C seeing slightly
better, and different,
results than B2B
18.2
• Many ways to use
• Most marketers
hoping to drive traffic
to corporate
sites/materials from
19
• Driving traffic less
likely to be
successful than other
tactics
• Most tactics enjoy
similar success rates
whether B2B or B2C
19.2
• Driving traffic less
likely to be
successful than other
tactics
• Most tactics enjoy
similar success rates
whether B2B or B2C
19.2
• For B2B, YouTube is
an effective home for
expensive TV ads
• Reaching out to
individuals rarely very
effective on YouTube
20.2
7 Myths of Social Media Marketing Practice:1. Marketing departments are hiring social media specialists
2. Social Media communications is free
3. Social Media is just for the kids
4. The bigger the Twitter network the better
5. B2B is totally different from B2C
6. Corporate culture constrains usage and effectiveness
7. Free analytics software is all you need for measurement
Myth #1:
Marketing
departments
are actually
NOT hiring
social media
specialists• 61% are folks
doing this work in
addition to their
defined role
• And 32% have
social media
responsibilities as
just part of their
job.
Myth #2: Social media
marketing is NOT
free. Budget for
social media in terms
of staff time, not
media spend and
Myth #3: Social Media
is NOT just for the
kids.
• High-level executives are
more likely to be active in
social media than not
active, making that time
more costly.
• Young staff may not have
the experience to be
leaders in social spaces.
1.1
Myth #4: Large
networks are
NOT
necessarily
more valuable
than smaller
networks
• Majority of Twitter
users have far
fewer than 1,000
followers
• Raising the
question “is quality
or quantity more
important when it
comes to Twitter
followers?”
14.6
Myth #5: B2B is NOT
significantly
different from B2C
social media
marketing.
• Surprisingly similar
usage rates of “earned
media” among B2B and
B2C organizations.
• Email to house list is the
most commonly used
form of earned media.
• As for social media,
public online
communities are used by
over a third of
companies; blogs by
about a third; and videos
for viral use by about a
fourth of all companies
12.1
THANK YOU!
Myth #6:
Success Requires a Company Culture of Openness
34%45%Uses consumer feedback productively to
improve the offering
28%48%Encourages collaboration between marketing
and others
27%47%Value open, honest dialogue about marketing
28%55%Quick to adopt new media technology
DisagreeAgreeCompany Cultural Attribute
Have Had Success Creating an Online Community Around a Brand
Myth #7: free
analytics software is NOT alone enough.
• Nearly every measurement option is mostly “helpful” (blue and orange sections of bar)
• Traditional web analytics tools score higher than new social media monitoring tools for robust measurement
39
For information, go to: http://bit.ly/8kjHHx
THANK YOU!