SOCIAL NEWS: Social media offers 'unprecedented opportunities' for brands
A whopping 93 per cent of digital marketing and advertising professionals in London believe social media offers ‘unprecedented opportunities’ for brands, according to a new survey by Crimson Hexagon.
Furthermore, more than two-thirds (70 per cent) consider social to be crucial for advertising success, with the power to ‘make or break’ campaigns.
Plus, 72 per cent now consider social media to be a more reliable source of public sentiment than traditional user or focus groups.
However, only 16 per cent say they use social media monitoring, and just 13 per cent use social media analysis.
The majority of survey respondents were concerned their companies do not invest sufficiently in dedicated social media teams, processes and technologies. More than three-quarters (77 per cent) of brand marketers said they do not invest enough in this area, while 68 per cent of advertising agencies admit there just isn’t enough investment by agencies.
Curt Bloom, president for Crimson Hexagon, said: "These survey findings reveal that while many industry professionals are aware of the value of social analytics, it’s not in widespread practice. The awareness and influence of social sentiment is undeniable, and what is needed now is investment in the tools capable of extracting raw data, giving it meaning and context, and harnessing it to develop better business decisions.”