Would you believe it if you heard that nearly 11 percent of most marketing budgets are dedicated to social media? How about if you heard that among Fortune 500 companies, nearly 98 percent rely on social media for a combination of public relations, marketing, and customer service and industry insights?
While these statistics alone are not surprising, it is curious that despite the deep integration and heavy investment in social media activities, marketers are still facing challenges to deliver a strong ROI.
The 2017 biannual CMO survey, sponsored by American Marketing Association, Deloitte, and Duke University’s Fuqua School of Business, shines a light on the challenge businesses have converting social media investments into effective marketing. In fact, the survey found that 44 percent of CMOs said that social media’s impact was nonexistent or minimal.
With the impact of social media at an all-time low, and the investment of social media increasing (spending is expected to grow 19 percent over the next five years), how can companies better align strategies to create a social media plan that is both impactful and successful?
Cision recently published a white paper that taps into this challenge, providing six best practices for companies to consider when creating an enterprise-level social media plan. Checking the box on all six of these strategies will help maximize social media spending.
Cision’s full white paper can be found here: A Hub, Spokes & Technology: Social Media Strategy for Enterprise Businesses.
Filed under: COMMUNIQUÉ PR, Planning, PR trends, Social media, Strategy, Tech Industry