Thought leadership driven by curation…
Interesting research report from Olgilvy on Social Media creating value for businesses. From the executive summary:
Ogilvy and ChatThreads enlisted approximately 400 US restaurant consumers who tracked and reported 5,295 touch points with five restaurant brands across all major types of media….
What did we find?
1. Social media exposure is directly linked with increases in sales. Integrated social media (social content + one or more other channels) exposure is linked with significant increases in spend and consumption—for example, social media + PR exposure was associated with a 17% spend increase compared to the prior week without these.
2. Integration matters. Exposure to social content was most consistently effective when it was combined with exposure to other types of media channels.
3. Social media is a top driver of impact. Out of the 20 channels analyzed, social media was No. 1 or No. 2 in magnitude of impact on spend and consumption.
4. Social media exposure is directly linked with changes in brand perception. Social media by itself is particularly effective at rapidly impacting brand perception— exposure to social media generated the largest impact on brand perception over a short (one week) period of time.
5. Brand exposure in social media is low. Weekly social media exposure to brand mentions was relatively low (24% of panel) vs. television branded exposure (69% of panel), even in this selected high social media consumption group of consumers
How does your business use social media?
In an effort to gain more insight into the usage of social media by marketers, product marketers and product managers, we have a quick survey for you to participate in. The survey should only take like 2 minutes, so your input is appreciated!
Here’s the Survey: https://survey.vovici.com/se.ashx?s=3877A95112A62085
Survey ends Friday 10.28
Some interesting insights from Mark Schaefer, directionally all of these are good recommendations based on facts. If 71% of buyers from the 2011 buyer report from Buyersphere reference blogs as part of the first stage of buying, then it might be a good idea to have one. I know you have reservations, so let me address the top 3 I hear:
1. Our buyers don’t use social media and alike: Well with over 750 Million people on facebook, there just might be some of your customers there. Maybe Facebook isn’t the right place for your industry, but LinkedIn is north of 200 million, so there might be a couple of buyers there for you to engage and build relationships with.
2. I don’t have time: While I get this one, are your competitors using social media? How do they have the time? I guess they make the time, you should too.
3. We don’t have that much content: Really? Are there whitepapers which could have a quick refresh and be edited down? CEO interviews you could do? Customer interviews? As marketers and product folks we are writing all the time, but if you don’t have content – ask others in your business. Who? People in development, support, professional services or wherever – you have smart people throughout your businesses who can share their knowledge with your market.
If you have 2 minutes, please participtate in our survey to better understand how you are using social media for your markets and products. Here is the link: https://survey.vovici.com/se.ashx?s=3877A95112A62085