Though 2009 may have been a trial run for many companies using social media, CMOs expect social initiatives to have a direct impact on their bottom lines in 2010, according to a study from Bazaarvoice and the CMO Club.
Nearly three out of four CMOs (72%) who did not attach revenue assumptions to social media in 2009 say they will in 2010, according to the survey; in addition, 64% of CMOs say they plan to invest more in social media in the next year.
Below, additional findings from the study.
Business Impact of Social Media
The exact impact of social media tactics on business goals still remains elusive for CMOs:
- 53% of respondents are unsure about their return on Twitter.
- 50% are unsure about the direct value of LinkedIn.
- 50% are not sure how to measure the impact of industry blogs on business metrics.
Customer ratings and reviews are the best-understood marketing activity from an ROI perspective: Although the financial impact of social media is unclear to many CMOs, most have confidence in using customer insights gleaned from social sites.
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