WFA participates in EU Commission roundtable on Interest Based Advertising (11/03/2011)
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ISBA announces Annual Conference 2011 Agenda (27/02/2011)
ISBA publishes a new Social Media Guide (27/02/2011)
eMarketer: The future of social media
Date: 21/02/2010
In the few short years that social media has been a marketing vehicle, it has already had an enormous effect on the way companies do business. In the coming years there will be even more changes, as social media marketing extends from the marketing department to nearly every aspect of a company's business.
Instead, the strongest business models in the future will incorporate analytics, as social media becomes truly integrated into all marketing efforts. In addition, TV will become more social, as will search.
Location will become more important to social media, and brand monitoring will increase in sophistication so that companies can begin to understand the "why" of consumer chatter as well as the who, what and when.
Social media has matured to the point where marketers are no longer asking whether it should be part of their marketing mix but how and where they should participate. A clear strategy for the channel is now necessary.
Instead of researching the best ways to engage, many businesses create accounts across multiple social networks and publish content without a plan or purpose. However, businesses that conduct research will find a rewarding array of options and opportunities.
Most companies find social media useful as a marketing and communications tool, but many companies also use social channels for sales, customer service, IT and more.
Although companies may use social media for several discrete business purposes, they should work toward integrating social media expertise into functional teams. Silos of expertise should be avoided.
"A Facebook promotion is only as good as the information that it feeds back to the sales, CRM, marketing or senior management executives who can turn it into a business gain," said Mr. Verna.
Source: eMarketer
According to a WFA survey, 81% of participants are planning to increase their outlay on social media in the next 12 months. WFA's Digital Network brings together interactive marketing specialists to share insights and benchmark on social media marketing (and more besides). For more information please contact Robert Dreblow: [email protected]
