According to a recent study conducted by Mzinga, Teradata Aster, and The Center for Complexity in Business at the University of Maryland’s Robert H. Smith School of Business, 61% of businesses report they have attained measurable business value through their use of social.
Companies aren’t measuring Social ROI
The study found that just 23% of companies report measuring the ROI of social media programs, compared to 77% who do not.
Companies use social media both internally and externally.
64% of companies using social technologies reported using them for marketing or brand experience, followed by customer experience, service or support, at 47%.
But, internal use is strong as well. The third most common use is internal, being employee collaboration and/or knowledge sharing (39%). 20% use the technology for both business strategy and for human resources, followed by alliances and partner development (16%) and product development (15%).
Interested in using social media for your business?
SilverRank is Buffalo’s top social media marketing firm. We help companies create compelling content and strengthen their online presence.