Worldwide Study Shows Businesses Not Measuring Social Media
Posted on May 24, 2012 by
SAN MATEO, Calif.-Satmetrix, a provider of cloud-based customer experience software, has released a study that shows the majority of business-to-consumer (B2C) and business-to-business (B2B) companies "are blind to the opportunities and threats of social media," a release said.
Among the social media study's findings were that 39 percent of businesses have no social media tracking in place, and of that number, 51 percent of B2B have no tracking compared to 22 percent of B2C companies surveyed. In addition, 67 percent of companies do not measure or quantify social media, and that increases to 75 percent for B2B companies. For companies that do quantify social media results, 56 percent just count the comments and followers, and only four percent have any sentiment analysis. Sixty percent do not have an integrated social media strategy (either do nothing, track or follow up only). However, 43 percent of North American companies have a follow-up process, compared to 25 percent in other regions.
"Businesses recognize the need for a social media strategy, however many are challenged in putting an effective strategy in place," said Richard Owen, CEO, Satmetrix. "While 77 percent of consumers post about products, 67 percent of businesses have no means of measuring what is being said, and less than one in 20 have any insight into the sentiment of what is being said. This is both a huge threat and a massive lost opportunity. Not only are companies running the risk of losing customers by not addressing their issues shared online, but they are also walking past the opportunity to capitalize on positive comments made on the social web."
The research was conducted in January 2012 with community members of netpromoter.com, and the results are based on 1,180 responses from worldwide businesses.