Study: Social to become more important for businesses

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While many admit their social efforts haven’t taken on the aspects of full-blown online campaigns – at least not yet – the MIT/Sloan study found businesses and managers say they are taking steps to improve their social standing, advertising and engagement efforts. What is most important to them?

• Leadership and vision from within, so that employees know what is expected in and from social efforts
• Direction from social leaders
• 74% of respondents from media brands said social software is important now
• 65% of those from tech brands said the same
• 46% of Energy/Utilities respondents said social would be important in the next 3 years
• 10% of those in Financial Services said the same

While many admit social is important now and will grow to even more importance by 2015, there is still a gap, according to new data from UK-based Eptica, which found many UK consumers were looking for brand’s support in the social sphere and are not finding it.

“Social media continues to emerge as an important marketing channel and major brand marketers are devoting more time and attention to understanding its impact on consumers,” said Andrew Lipsman, comScore VP of Industry Analysis. “While marketers understand the importance of a channel that now accounts for 1 in every 7 minutes spent online, many are challenged to quantify its effectiveness.”

comScore and Facebook have released a study, The Power of Like 2, which shows how some brands are engaging through social.

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ABOUT THE AUTHOR

Kristina Knight-1
Kristina Knight, Journalist , BA
Content Writer & Editor
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Kristina Knight is a freelance writer with more than 15 years of experience writing on varied topics. Kristina’s focus for the past 10 years has been the small business, online marketing, and banking sectors, however, she keeps things interesting by writing about her experiences as an adoptive mom, parenting, and education issues. Kristina’s work has appeared with BizReport.com, NBC News, Soaps.com, DisasterNewsNetwork, and many more publications.