Excerpts from article on iMedia Connection:
A recent study by NextStage sifted through input from 1,700 companies who used social marketing in 2013, The results have shown some interesting outcomes and perceptions that will impact what companies do going forward.
Just to be clear, social marketing means creating a social presence and using that social presence to drive conversions. Conversions cover everything from loyalty to acquisition to retention to customer service metrics to satisfaction to truly strange recency calculations linking site to social to mobile to...
10.5 percent are going to “do something else”
21% said they are “dissatisfied with social marketing “
54.75% are stepping back and waiting. They are not walking away but inconsistent results have them waiting for the right campaign
Better than half the businesses interviewed admitted the decision was still out on social marketing's value. They are prepared to sit it out in 2014 rather than continue to invest. Less than half the total businesses contacted are using social as part of a strategic plan (i.e., it's showing up in spreadsheets as expenses only).
2014 may or may not be a make-or-break year for social, but with more than 50 percent having a "let's wait" attitude, social marketing seems to be losing its pull.
My thoughts as it impacts auto dealers
As far as the auto retailing sector goes I have spoken to many dealers who have tried the social marketing channels. They chased likes on Facebook, created hundreds of tweets, posted lots of blogs and spent thousands on keyword purchases with very few of them getting any tangible results.
A number of the companies created to push the "social agenda" for dealers are struggling and dealers are discovering their $1,500 to $3,000 a month is better spent in other areas. I suggest dealers focus on building their brand in their own backyard and better connect with the local market opportunities that are out there waiting for them.
Have a great 2014.