A couple of months ago, I circulated a survey across various social platforms, including LinkedIn and Twitter. The survey was a component of one of my MBA assignments which explored the relationship between business success and social media utilization. I promised to share the survey results through VA Partners’ blog, so without further ado, here is part one of the results on ‘what does social media success look like?’
A total of 51 complete responses were received from:
- Start-up/growing businesses 41%
- Established businesses 37%
- Non-profit organizations 14%
- Government 2%
- Other organizational types 6%
Social is playing a critical role in the success of these organizations. When asked how social media fits into their company goals, the following was found:
- 14% indicated that they would not be where they are without it
- 51% responded that social plays a role in their success, but is part of a larger strategy
The top platforms used by responders’ organizations were:
- Facebook (88%)
- Twitter (78%)
- LinkedIn (76%)
Findings on Social Media Strategy Implementation
While the sample group actively used social media channels, fewer had a strategy in place. Responders indicated that being more strategic and sticking to a strategy was the one thing they would like to be able to change about their organization’s social media efforts.
The following business objectives were the most commonly attached to social media use:
- Increased awareness and driving brand visibility
- Engaging and communicating with customers
- Increasing sales
How Effective is Social Media at Achieving Business Objectives?
- More than half of responders indicated that it was effective or exceeded their expectations
- 20% of responders expectations were not met by social media
- No one indicated that their initiatives had failed completely
How Effective are Companies at Measuring Social Media’s Impact?
- Over 60% had not measured return on investment
- Many found it difficult to measure return on investment as awareness and connections may not have brought direct benefits
- Main challenge: linking the benefits of social media to the bottom line
Does your company have a social strategy in place? VA Partners has a proven track record for developing strategies for social media, and leveraging these channels to generate leads. Contact VA Partners to discuss the development of your organization’s social strategy.
Thank you to all of you who completed the survey, I appreciate you taking the time. Thank you to Mark, from VA Partners for his support throughout my project; I appreciate having the opportunity to explore the ever changing world of social media.
