50% of firms don’t differentiate social media marketing from social business: ten top insights from the 2014 social business benchmark study by the Leader Networks.
The Leader Networks released the results of the 2014 edition of their social business benchmark study.
Those results demonstrate once again that marketing still largely dominates the social media budget in most organisations, big or small, surely with a key focus on paid media leaving earned media under-resourced.
It also seems that social collaboration is still not a priority for most companies and there is still a long way before
fully leveraging at all social analytics and the voice of the customer which should both be at the heart of any digital transformation programme.
Key Findings – Social Business Benchmark Study
- Generally, firms do not consider their social strategies to be strong
- Marketing typically leads the social media strategy
- Reach/awareness and collaboration with customers are the primary drivers for social strategy
- Organisations are more focused on using social media to support externally-facing activities such as recruitment, than on supporting staff collaboration needs
10 Top Social Business Insights
- 76% reach/awareness is the primary driver for social strategy
- 62% collaboration is another primary driver
- 60% report that their executives support the social strategy that their organisation has in place
- 51% report their social strategies are a competitive advantage
- 50% of organisations do not differentiate social media marketing from social business
- 50% of the social media strategy is typically led by Marketing
- 49% report that they collect social outcomes data but rarely use them to drive change, account for success or failure of a larger strategic initiative
- 37% of organisations report having have a useful intranet
- 32% of firms run a social business strategy course
- 24% of organisations reported have trained key personnel in social media skills
No major surprises here.
CALL TO ACTION
I invite your Senior Execs to do four things:
- Check out those two definitions of social business: ‘the deep integration of social media and social methodologies into the organisation to drive business impact‘ and ‘an organisation whose culture and systems encourage networks of people to create business value‘
- Read Andrew Grill‘s recent LinkedIn post ‘Using a broadway show to explain the differences between social media and social business‘.
- Read Brian Solis‘ ‘the 2014 State of Digital Transformation‘
- Watch those 20 top social business videos