Social media has proven to be a powerful tool to reach relevant audiences, uncover new insights and opportunities, and drive deeper, more personalized relationships with customers. Brands recognize this and have steadily increased their budgets to fuel social media initiatives. But they also know they are leaving many benefits on the table as they struggle to deliver on expected ROI, which can limit further investment.
In the face of these challenges, many marketers admit their attribution models still need work and that they need to do a better job integrating social media across the full breadth of their marketing efforts. But the path from today’s largely brand-building use cases to a more sophisticated realization of social media’s potential is not always clear.
Those who dive deeper into social media’s capabilities in both research and direct customer engagement are seeing an increase in performance that creates compounding value across the business.
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Meltwater has sponsored research by Harvard Business Review Analytic Services to further examine how brands can capitalize on their social media investments. Through interviews with brand leaders and social media experts, this report shares effective strategies to optimize the use of social media tools, resources, and capabilities across the entire marketing spectrum.