Sunday, October 26, 2014

Social media in 2014

The Hootsuite Social Business Benchmark study released this week showed that the majority of organisations surveyed believe social media is critical to staying competitive and engaging audiences, yet they face challenges in deriving value from the data they mine from social and aligning departments.

More than 750 interviews were collected among current or prospective clients of Hootsuite.
Key Findings:
  • The majority of respondents (88%) agree that social media is important to maintain a competitive edge.
  • 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.
  • Nearly three in four respondents (72%) agree the number of departments using social media is growing.
  • A majority (64%) of respondents whose social media strategy is at least somewhat aligned stated that aligning strategy across departments was difficult
  • 62% of respondents said that creating a social media strategy was difficult in the first place.
  • 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%).
  • 73% of respondents value social media’s capability to resolve customer complaints and questions. 

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