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Marketers & Social Media Monitoring Survey 2011

RSW/US & Web Liquid Survey Conducted May/June 2011 Version 1 27 July 2011       From: Web Liquid

RSW/US

55 Washington Street

2368 Victory Parkway

Suite 800

Suite 120

Brooklyn, NY USA

Cincinnati, OH

11201

45206

webliquidgroup.com

rswus.com


Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

What’s in here Introduction ....................................................................................................................3 Executive Summary ..........................................................................................................4   Who’s using Social Media Monitoring? ........................................................................................ 4   What tools are they using? ........................................................................................................ 5   How valued is SMM? .................................................................................................................. 6   How is the investment trending? ................................................................................................. 6   Survey Results .................................................................................................................7   About Web Liquid ........................................................................................................... 12   About RSW .................................................................................................................... 12    

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

Introduction

Few   would   deny   that   Social   Media   is   the   most   talked-­‐about   marketing  opportunity  in  recent  history,  yet  its  value  remains   debated   amongst   marketers.   Does   it   influence   purchase   behavior?   How   should   ROI   be   measured?   What   metrics   actually  matter?  What  is  Social  Media  Intelligence?  Questions   the  digital  marketing  industry  is  trying  to  answer,  including  the   many   companies   that   provide   Social   Media   Monitoring   services.       The   options   for   monitoring   Social   Media   range   from   simple   automatic  search  engine  alerts  (e.g.  Google  Alerts)  to  channel   specific   data   queries   and   highly   sophisticated   research   companies   offering   broad   datasets   masterfully   collated   and   presented  for  a  premium  subscription.  There  are  no  less  than   150   companies   providing   some   level   of   Social   Media   Monitoring  services  that  allow  marketers  to  better  understand   the   intersection   of   their   brand   and   consumers’   social   behavior.  

  But   with   such   vast   options   in   this   emerging   channel   we   wondered   how   many   marketers   actually   use   these   services   and   among   those   that   did,   what   value   they   perceive?   The   following   is   the   result   of   a   social   media   monitoring   survey   conducted  in  partnership  with  RSW/US  in  May  &  June  of  2011,   aimed   at   getting   answers   to   such   questions   directly   from   digital  marketing  executives  –  237  senior  marketing  executives   participated  in  our  survey.  

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Executive Summary Social Media   Monitoring   (SMM)   is   an   important   emerging   marketing   research   and   brand   management   function.    In   this   early   stage   of   its   development,   many   marketers   are   merely   dabbling…   and   there   is   a   tremendous   opportunity   for   those   who  get  it  right.           Most   marketers   are   doing   some   form   of   SMM   and   virtually   all   of  these  have  seen  some  value  in  the  practice.    However,  less   than   a   quarter   report   being   extremely   satisfied   with   their   tool(s)   of   choice.    Further,   we've   observed   an   overall   lack   of   sophistication  in  use  of  SMM  tools  -­‐  59%  of  those  doing  SMM   rely   solely   on   Google   Alerts,   a   practice   cautioned   against   in   this   report   from   November   of   2010:   Google   Alerts   for   Social   Media  Monitoring.     Marketers  who  use  paid  social  media  monitoring  solutions  are   twice  as  likely  to  be  “extremely  satisfied”  compared  to  those   using   a   free   solution.    Given   this,   we   believe   now   is   the   time   for   digital   marketers   to   invest   in   more   valuable   SMM   programs.    The  benefits  of  these  investments  are  diverse,  but   the   most   commonly   reported   applications   are   in   Communications  Strategy  and  Customer  Service  (28%  and  19%  

of users,  respectively).    With  nearly  two-­‐thirds  of  respondents   planning   to   increase   their   use   of   SMM,   we   encourage   marketers   to   educate   themselves   on   the   tools   currently   available  (request  a  copy  of  our  2011   Social  Media  Monitoring   Buyers   Guide)   as   well   as   the   agencies   with   experience   in   applying   these   insights,   or   Social   Media   Intelligence,   to   optimize  Social  Media  and  cross-­‐channel  marketing  efforts.  

Who’s using Social Media Monitoring?

Actively Monitoring

26% Yes No 74% n=237

Nearly three   quarters   of   marketing   executives   surveyed   are   actively   monitoring   Social   Media   through   the   use   of   both   paid   and  free  tools.    

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As one   may   expect,   the   large   companies   reported   to   be   actively  monitoring  Social  media  more  than  medium  or  small   companies.   Large   companies   also   report   use   of   a   paid   Social   media   Monitoring   tool   more   so   than   others,   but   it’s   medium   companies  that  most  often  report  using  free  tools.    

What tools are they using?

Tools Used Google Alerts

Company Size & Paid vs Free

Other Radian6

100%

Nielsen Buzzmetrics Brandwatch

Large Medium

9%

Meltwater Buzz

Sysomos

50%

Small

0% Paid Tool

Free Tool

  Relative  company  size  based  upon  revenue:     <$100M  =  Small   $101M  –  $500M  =  Medium   $501M+  =  Large  

n=237

18%

59% n=237

  Google   Alerts   is   the   dominant   Social   Media   Monitoring   tool   as   marketers’   desire   to   retain   costs   often   outweighs   the   quality   and   usability   of   the   data.   Amongst   the   paid   tools,   a   vast   set   of   options   exist,   but   respondents   to   our   survey   reported   their   use   of   Radian6,   Meltwater   Buzz   and   Neilsen   Buzzmetrics   most   frequently.    

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

How valued is SMM?

How is the investment trending?

Future SMM Investment

Value & Paid vs Free 100% Extremely Valuable Somewhat Valuable

Decrease

50%

37%

Same

Not Valuable

Increase

62%

0% Paid Tool

Free Tool

n=164

Our   data   shows   that   those   who   do   pay   for   SMM   tools   are   twice  as  likely  to  consider  them  extremely  valuable  and  in  fact   very   few   marketing   executives   find   little   to   no   value   in   the   SMM  regardless  of  their  level  of  sophistication.    

n=164

Most   marketers   reported   a   plan   to   increase   their   SMM   investments  in  the  coming  year  with  very  few  suggesting  that   they’ll  retreat  from  their  current  investment  levels.              

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

Survey Results Please select the job title that best describes your position.

Please provide a best guess estimate of the revenue of your organization.

n=237

n=237

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

What is your primary marketing objective?

How aware are you of Social media Monitoring?

 

 

n=237  

n=231

     

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

What tools does your company currently use to monitor Social Media for marketing intelligence? Please check all that apply

To what degree do you find the insights gleaned from social media monitoring of value to achieving your business objectives?

n=237

n=164

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

How satisfied are you with your Social Media monitoring solution?

If you are using social media monitoring to glean business intelligence, how are you using this data – how are you making it actionable? Please check all that apply

n=164

n=237

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

What departments within your organization are most often using the social media intelligence?

How are you evolving the use of Social Media monitoring to achieve your company’s objectives?

   

n=164

n=237

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Web Liquid New York 55 Washington Street Suite 800 Brooklyn, NY USA webliquidgroup.com

About Web Liquid

About RSW

Web   Liquid   lives   at   the   intersection   of   consumer   behavior   and   digital   technology,   literally   extracting   insight   from   online   conversations   to   deliver   more   revenue   and   sales   from   digital   marketing.   From   awareness   to   loyalty,   our   services   engage   customers  and  build  profit.     Founded  in  2003  with  offices  in  New  York,  London  and  Lagos,   our  mission  is  to  shepherd  marketers  through  an  increasingly   complicated  digital  landscape.  We  combine  the  analytics  of  a   consultancy   with   the   communication   expertise   of   an   advertising   agency,   to   deliver   bespoke   solutions   that   fit   each   client’s  unique  challenges.       By   placing   WOM   (word-­‐of-­‐mouth)   research   &   insight   at   the   foundation   of   our   efforts,   we   help   our   clients   deliver   a   proposition   revolving   around   meaningful,   customer-­‐centric   dialogue.   With   the   chief   objective   of   inspiring   consumer   confidence   and   building   trust   in   our   clients’   brands,   we   offer   strategic   insight   and   efficient   channel   management   to   help   maximize  ROI  in  the  digital  world.    

RSW/US   is   a   full   service,   outsourced   business   development   group   that   helps   Agencies   win   new   business   by   developing   positioning   and   prospecting   plans,   building   the   industry's   cleanest   lists,   getting   clients   qualified   meetings   in   front   of   decision   makers,   and   moving   clients   beyond   the   initial   meeting  to  get  them  closer  to  close.  More  information  can  be   accessed   at:   www.rswus.com   or   by   contacting   Mark   Sneider   (513.559.3101  or  mark@rswus.com).      

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