Study From Independent Research Firm Finds Social Media Marketing Technologies Drive Significant Business Results, Yet Most Brands Are Not Taking Full Advantage Of Them
Social media marketing platforms drive significant business results. So why are only 13 percent of US businesses using them? That’s the question raised in a commissioned Lithium Technologies study, conducted by Forrester Consulting, released today. Every competitive advantage counts in today’s economy, so can brands really afford to fall behind on social?
The Forrester study looked at B2C and B2B businesses’ adoption of social media marketing (SMM) platforms, how they use these platforms, and what results they are seeing. Respondents represented companies generating $100 million or more in annual revenue, and only 13 percent are investing in social media marketing platforms. This is despite the fact that most US consumers use social media as their primary channel to engage with brands, whether they are browsing, shopping, or getting their questions answered about products.
“Consumers turn to digital channels first when they want to engage with brands, yet brands are woefully underinvesting in, and underutilizing, the powerful potential of social tools to deliver awesome experiences on digital,” said Lithium President and CEO Rob Tarkoff. “The stakes are high; not only are brands missing out on a great opportunity to gather important data about what their customers want, they are also not tapping into social’s potential to help them acquire, serve and grow their customer base.”
In August, Lithium, the market leader in social media management and online community products, entered into a definitive agreement to acquire Jive Software‘s external community business from Jive, an Aurea company. This move combines two of the industry’s most innovative technologies and customer bases, and will enable Lithium to deliver a broader set of Community features and leading capabilities for all customers. Specific details will be communicated directly to both Jive-x and Lithium customers.