Companies Failing to Measure Social Media

A social media report claims that the vast majority of companies are still not adequately measuring the success of their social media campaigns. The MarketingProfs study of 338 companies found that “21% of marketers say they are now adequately measuring the impact of social-media campaigns in terms of tangible results”, which also means 79% aren’t.

This is pretty typical for an area of marketing innovation, but is actually rather shoddy for one in which data is so easily available. I have a list of over 80 social media monitoring companies (many of which are free or easily affordable to most companies), so there really is no excuse not to be tracking and analysing the results of social media engagement. Shame on you failing companies!

Some other interesting stats from the report were:

• 30% of the respondents had “dedicated resources” for monitoring social media
• 25% selected “don’t know what to measure”.
• 20% selected “social media measurement isn’t primarily about ROI”
• Nearly six in ten respondents (58%) say monitoring is “important” to their companies.
• 31% say it is “somewhat important”
• Most companies monitor for “reputation management” or “prospecting”