Econsultancy launched their Social Media and Online PR report yesterday, providing a comprehensive insight into how businesses are currently approaching social media (or not) in the UK. The headline to fall out of the report is that the overwhelming majority of companies (86%) plan to spend more money on social media in 2010, and a further 13% are planning tokeep the same level of budget.
But I think of equal interest is whether we’ve moved on in the last 12 months: are businesses really embracing social media or is there still more talk about it than actual action.
In my recent experience the only larger business that are really embedding social media into their business are either a) those with someone at board level who understands it or b) younger businesses without a pre-existing company culture to stifle it. The report bears this out citing lack of knowledge (50%), lack of senior buy-in (33%), lack of resource (32%) and company culture (28%) as the main barriers preventing clients from engaging in social media activity.
It’s also interesting that smaller organisations (turnover less than £1m) are significantly more likely to be heavily involved in social media.Makes perfect sense, it’s much easier to change direction if you’re a nippy speed boat than a lumbering cruise liner.
I was genuinely surprised that when asked what people viewed as the main benefits of social media, “increased direct traffic to website” was only viewed as a “major benefit” by 56% of respondents. I mean what? Brand awareness, customer engagement, reputation management are all vital but perhapsnot understanding how being able to demonstrate ROI by measuring the effect of activity on brand owned spaces, is why we’re not, as an industry, winning the battle of trying to convince clients why they should bother in the first place.
The first three are lovely and what we know to be valuable but on which we can’t as yet put a price tag, the last one can make it easier to open the door to the sceptic at the top table.
Overall it seems thereis still along way to go before social media engagement (is it just me or isn’t digital engagement starting to sound like a better term?) is anywhere nearbeing an accepted part of business operations. As an industry, education and best practice not quick wins, will be the only way to move this on.
That Tipping Point is a way off yet.