Aberdeen Group survey of over 360 companies shows ROI from Social Media
As the popularity of social media continues to change the way people interact with each other and with companies, The Aberdeen Group found that top performing organizations that are using Web 2.0 applications are getting better than usual Return on Marketing investment. (ROMI)
The study divides the companies polled into Best-in-Class, Industry Average and Laggards.
They identified Best-in-Class companies as those that have
- Senior execs committed to and supporting the new ideas
- Dedicated personnel devoted to the Web 2.0 initiatives
- Defined metrics for measuring the success of the initiatives
What do these companies see as the best technologies for Web 2.0 engagement?
- Social Networking sites 90%
- Blogs 84%
- Wikis 77%
- RSS Feeds 72%
- Tagging 66%
- MashUps 66%
- Podcasts 64%
The top technologies selected are all content sharing platforms – they promote the exchange of user-generated content in a way that encourages collaboration and individuality.
What’s driving Web 2.0 adoption in the Best-in-Class companies?
- The need to increase market awareness
- The need to develop new products and services
- The need to improve customer satisfaction
- Better consumer insights
- Improve the online experience
While the Industry Average and Laggards say the top strategic action for Web 2.0 is improving their ability to respond to customer needs and wants based on social media conversation, Best-in-Class companies supplement marketing campaigns with consumer generated insights. They’re able to refine outbound messages based on the needs and wants expressed in the social settings. This creates a closed loop process that uses the customer needs and wants as the basis for marketing messages and gives year-over-year growth in ROMI.
The study has many more charts and stats – as well as case studies and strategy insights.
