The Harvard Business Review is out with a report called “The New Conversation: Taking Social Media From Talk To Action” that is worth a read talking about the growth of social media usage among companies:
The exponential growth of social media, from blogs, Facebook and Twitter to LinkedIn and YouTube, offers organizations the chance to join a conversation with millions of customers around the globe every day.This promise is why nearly two-thirds of the 2,100 companies who participated in a recent survey by Harvard Business Review Analytic Services said they are either currently using social media channels or have social media plans in the works. But many still say social media is an experiment, as they try to understand how to best use the different channels, gauge their effectiveness, and integrate social media into their strategy.
- Three-quarters (75%) of the companies in the survey said they did not know where their most valuable customers were talking about them.
- Nearly one-third (31%) do not measure effectiveness of social media.
- Less than one-quarter (23%) are using social media analytic tools.
- A fraction (7%) of participating companies are able to integrate social media into their marketing activities.
These should all be huge red flags in any experiment as they represent numerous missed opportunities to capitalize on their efforts in the future. Follow me below the fold for more. Contunue Reading