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Booz & Co Buddy Media Campaigns to Capabilities Social Media and Marketing 2011

Booz & Co Buddy Media Campaigns to Capabilities Social Media and Marketing 2011

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Published by: joe_ciarallo on Oct 03, 2011
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07/15/2015

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Campaigns to Capabilities Social Media & Marketing 2011

Selected Insights October 2011

Facebook, Twitter and YouTube are the corner stones of most social media strategies
Priority Social Media Platforms % of respondents who say that this social media platform is in their top 3 Key Observations

94% 77%

Respondents reported that they use multiple social media platforms – sample average was 4.6 Facebook & Twitter are by far the most broadly used and highest priority platforms Location-based social media is still emergent MySpace is only a priority platform for a limited number of respondents – most do not use it at all

42% 25%

25% 13% 8%
Location based (e.g., FourSquare)

2%
MySpace

Facebook

Twitter

YouTube

Blogs

CompanyOwned Social Platforms

LinkedIn

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

1

Today, social media live primarily within marketing, digital & PR
Departments Responsible for Leading Social Media Today
% of respondents
81%

Key Observations
62% 48%

Marketing departments are primarily responsible for social media today However, it is often spread across multiple departments More leading edge companies use social for a broader variety of applications
26% 16% 10% 8% 8%

Marketing

Digital

PR

Customer Service

Research

Sales / Commerce

Product Development

IT

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

2

One third of companies have a senior executive who is responsible for social media company-wide
Does Your Company Have a Senior Executive Who is Responsible for Social Media Company-Wide?
% of respondents

Key Observations Overall, one third of companies reported that they have a company-wide head of social This percentage is 41% among those who consider themselves “best in class” or “strong”
No
65%

Yes 35%

Note: Numbers shown may not add to 100% due to rounding Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

3

Respondents identified a range of critical success enablers
Social Media Success Factors - % Strongly Agree or Agree
% of respondents

Key Observations Softer factors appear to trump harder factors (budgets, head of social, etc.) in driving success

94%

93%

90%

90%

88%

86%

83%

80%

79%

62% 53% 50%

Ability to adapt Having a clear and react quickly champion, owner

Clearly communicated support from exec management

Education on what can be achieved via social media

A culture that Supporting encourages initiatives with experimentation an integrated marketing plan

Training of staff who are not accustomed to using social

Strong PR capability

Unique content Ability to that is exclusive coordinate & to the audience manage on each multiple service providers

Dedicated budget not shared with other digital initiatives

Head of social media company-wide

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

4

Social media is a CEO level agenda item for many companies
Is Social Media on Your CEO’s Agenda?
% of respondents

Key Observations
Don’t know
19%

38%

Yes

While social is not on the agenda of many CEOs, nearly 40% of respondents reported that is it a CEO-level agenda item This suggests that social media has moved beyond being a “fad” for many of these companies – and it is viewed more as a high potential business tool

43%

No

Note:

Numbers shown may not add to 100% due to rounding 5

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

Social has a range of use cases
How do You Use Your Top Social Media Platforms? % of respondents Key Observations Advertising & promotions, PR and customer service are the primary use cases today

96% 88% 75% 56%

Emerging use cases include market research, sales and product development In a minority of cases social is also used for internal communications, recruiting or content generation

48% 40% 24% 13%

Advertising & Promotions

PR

Customer Service

Market Research

Sales / Commerce

Product Development

Internal Communications

Other (recruiting, content generation, community)

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

6

Companies see social offering the most benefit in the upper stages of the purchase funnel
Great or Some Benefit from Social Media
% of respondents

Key Observations Companies are deriving significant marketing value from social

90%

89%

88% 81% 78%

While rated lower than other benefits, almost half of respondents see a benefit to the generation of sale and leads

76%

71%

71%

71%

66% 46%

Brand building

Interactivity

Buzz building

Consumer insights

Enhanced marketing effectiveness

Broad reach

Creativity & innovation

Speed of execution

Lower cost

Traffic to our sites

Generate sales / leads

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

7

Marketers measure social across all stages of the purchase funnel

Metrics Used for Social Media % of respondents Key Observations
Reach (uniques, PVs, video views, time spent)
88%

Buzz (trending topics, blog mentions, influentials)

66%

Companies are still trying to “crack the code” on the measurement of social media Most respondents report using multiple approaches to measuring social as metrics mature Most companies are not yet able to link transactions to social media

Engagement (forwards, shares, re-tweets, posts, likes)

93%

Participation (fans, followers, check-ins, sign-ups)

92%

Transaction (sales, leads generated)

38%

Advocacy (comments, feedback, participation in polls)

81%

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

8

Respondents agreed that social will become a bigger part of their marketing mix
Social in the Marketing Mix – Opinions - % Agree or Strongly Agree % of respondents Key Observations While social is an increasingly important part of the marketing mix, it is not replacing other vehicles like search or owned sites
65% 54% 49% 40% 32% 27% 19%

90%

Respondents appear bullish on integration and don’t believe that it is “impossible” to measure

Investing in Social metrics should Our organization will be tailored to the needs integrate social media relationships with of the campaign into all advertising and consumers through social is more important marketing to our brands than mass reach

Social should be the fastest growing segment of our marketing budget

Social media are Our brand presence on Social media is a traffic Evaluating campaigns driving our approach to source that is more that integrate social and platforms such as mobile marketing Facebook and Twitter is important than search traditional media feels becoming more impossible today important than our own site

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

9

Key Observations

Companies have a range of capabilities already in place or are looking to build others
Organizational Elements
% of respondents

Today, only a handful of companies have all of these organizational elements in place However, almost half report that they will have all of them in place in 1-2 years

7% 29% 34%

3%

9% 37%

4% 16%

4% 16% 16%

9% 25% 41%

32%

28%

47% 35% 46% 56% 40%

44%

65%

63%

59%

59%

56%

50%

49% 38% 35% 35% 15%

Social media policies

Integration of social into marketing plans overall

Monitoring and rapid response capability in social media

Overall Social media strategy for agency social media partnerships

KPIs & dashboards for social media

Social media Platforms / Consumer Social Revenue creative / forums to insights media-driven generating content share results / generation via customer platforms capability best practices social media service built from channels social media Have Today

Do Not Have, Not Looking to Build

Building or Will Build Soon

Note: Numbers shown may not add to 100% due to rounding Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

10

Almost all companies report that they are growing their spend
Investments in Social Media
% of respondents

Will remain unchanged
5%

Key Observations Companies clearly intend to spend more on social in the future to build bigger social programs and platforms No respondents reported that they would spend less on social in the future

39%

Substantially more resources

57%

Somewhat more resources

Note: Numbers shown may not add to 100% due to rounding Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

11

Hiring full time employees is the number one investment being made in social media
Key Observations Investments in Social - Type
% of respondents
57% 48% 39% 38%

As companies are building up their social media, they are focused on hiring in-house staff Partners also will play a key role in supporting companies as they use social more widely

25% 16% 14%

Hiring full time employees

Services provided by partners

Creating more content

Media buys

Consulting / other professional services

IT systems / partnerships

Hiring contractors, freelance or part time employees

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

12

Key Observations

3 primary roles make up a social media teams
Have this role on our social media team today
% of those with dedicated resources
63% 49% 36% 30%

Today, community management is the most common role Looking forward, hiring creative talent is the top priority IT talent is not a priority for social media hiring

10%

Community managers

Creative talent (editors, content creation)

Analysts / strategy resources

Senior mgmt (not including head of social if applicable)

Product / software developers

Type of Full Time Roles we are Planning to Invest in in the Near Future
72% 59% 43% 28% 24%

% of respondents investing in full time FTEs

Community managers

Creative talent (editors, content creation)

Analysts / strategy resources

Senior mgmt (not including head of social if applicable)

Product / software developers

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

13

Marketers report that social media spend will increase significantly as a percentage of digital spend in the coming 3 years
Social Media Spend as a Percentage of Digital Marketing Spend1

Today
7% 5%

3 Years from Today Key Observations
13%
28%

Social media will begin to take up a meaningful share of digital budgets for many companies
32%

22%

67%
27%

Overall digital budgets are also growing – suggesting a substantial uptick in spend in the coming years

< 5% 1)

5-10%

10-20%

>20%

Includes only those responses where an answer was provided for social as a percentage of digital both for “Today” and “3 Years from Today” 14

Note: Numbers shown may not add to 100% due to rounding Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

Within these budgets, social is precipitating a shift within digital media more so than away from other types of ad spend
Which Other Media Budgets Does Social Draw From?
% of respondents
79%

Key Observations Social media is primarily drawing upon digital media budgets – likely shifting funds away from digital advertising vehicles such as display

21% 15% 6% 6% 5%

Digital

TV

Magazines

Outdoor

Newspapers

Radio

Source: Booz & Company / Buddy Media Campaigns to Capabilities Social Media & Marketing 2011 Survey results

15

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