A deep analysis of Social Media Examiner's 5th annual Social Media Marketing Industry Report. Learn where the social media marketing market is today and what trends are in store for its future.
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Welcome to another edition of social business Unplugged. Practical advice on how to leverage social media for your business. Now the host of Social Business Unplugged, author of the forthcoming book Maximize Your Social, published by Wiley and founder of Windmill networking meal Schaefer. Greetings, everybody and welcome to another addition of social business Unplugged with Neil Shaver. You know, I usually like to record these wherever I travel in the world. Last week I was actually in Vienna, Austria, of all places, presenting to a group of technology transfer professionals on linked in. I actually took the opportunity to just not stick with linked in, but also look beyond linked in to Twitter, Google Plus and even blogging. And I'd love to share the insight that I gave everybody their. But my feeling is in every country, in the way they adopt social media and use it for businesses, obviously at different speeds. I do believe that North America is currently in the lead in general and that Europe obviously depends in the country. But people that I was speaking with seemed to be a little bit further behind a lot of interest in Lincoln, obviously, twitter of the 250 professionals that I spoke with. I think only two or three actually tweeted during the event, although there was a hash tag. So and obviously Google Plus was the furthest thing from their minds that gives you a taste of the crowd that I spoke to. It really represented all of Europe, went out to dinner with the group. There was a gentleman from Slovenia next to me, a gentleman from Malta on the other side. And what have you But today, unfortunately, back here home in Orange County, California So not coming from exotic location. But I wanted to talk about the 2013 Social Media Marketing Industry Report put out by Michael Stell Turner and sponsored by the social media examiner. This is the fifth year they've put out this report, and I think it provides a really, really good snapshot. The people who are providing information to the report. There were 3000 marketers that were surveyed, and this is like I said, the 50 year they've been doing it. I'd say, you know, Hub Spot has a report on the state of inbound marketing where they offer a lot of data. I'd say that and this report are really two key reports that provide a lot of data based on feedback from actual marketers as to how they're using social media, what questions they have and how they plan to use it in the future. So I just wanted to offer my own take on this. As I said, there were over 3000 marketers. If you were curious as to the demographic, I think it's pretty representative of those that are using social media. Ah, lot of my clients have never even heard of Social Media's have bitters. Obviously, the people that are responding to this sort of survey are those that I expect are heavily using social media per se. Most of the survey participants 72% were between the ages of 30 and 59. I think that's pretty representative of the professional demographic, and 57% were based in the United States, followed by the UK at 9% Canada, 7% in Australia, 5% maybe 57% from the U. S. Is a little bit high, but I still think it's a pretty good global representation. Looking at the traffic stats from Windmill networking my own blawg. I'd say that's pretty representative, although India definitely would show up a little bit higher, as well as in other lands and maybe Japan. But anyway, I think it's a pretty good round out of number. So first of all, the most interesting takeaway from this is the five social media questions that marketers wanted answered. And there were number takeaways I have that I want to share with you. The interesting thing is, obviously my specialty is social media strategy. Consulting on my next book, Maximize Your Social will teach everybody how to create their own social media strategy. And the fifth most popular question that social media marketers had was how do I create a social media strategy? 83% of those that are engaged in social media that were questioned actually don't know how to create a social media strategy. It's sort of worrying that, in essence, more than 80% of marketers that are engaging in social media don't really have a strategy. And because they don't have a strategy, it's sort of answer. Is these other questions. So the third most popular question. How do I measure the our ally of my social media investment, 87% don't know how to do that. Not surprising is all without the strategy. Without an objective, you can't really determine your ally, can you? And then the other Things also sort of fall into place. Which social tactics are most effective? Was the number one question that was 90% of the people surveyed? One of the answer for 88% was How do I best engage with my audience and then 84%? We're looking for the best social management tools. Obviously, with a robust social media strategy that I'll be outlining and maximize your social. It will really respond to all these five questions. But what also worries me not only the fact that only 17% of marketers feel that social media strategy creation is not a significant issue, but that's 88% don't know how to engage, that they don't understand the best ways to engage with their audience. 90% don't understand the tac tics, and this is really worrying for a number of reasons. But the number one reason is if you're an active user of social media and when I present on social media. I tell it, everybody, it is not rocket science. It's pretty natural, actually now obviously engaging and tactics from a personal perspective, and from a professional perspective, we're going to be different. But I think this is indicative of perhaps the people that are doing the social media marketing on behalf of the company may not be as experienced in all the platforms or maybe are relatively new, even though there were a number of people knew, according to the demographics and study, but not everybody. It's really surprising that that many people would want those questions answered. It really makes you see that a lot of these social media marketing you see out there is still out of very I would call it an introductory stage, and that's maybe for a lot of companies. Their social media program is sort of an oversight, you know? Well, we got to do what our competitors are doing it. Let's do it. What have you so really shocking that that's the current State of the Union, as indicated in this report. Obviously, for those of us in the social media profession of helping cos, there's obviously huge upset, a huge potential there. It also means that in the future, businesses are going to get a lot more savvy about using social media and that we're still on Lee at the very beginning of this very long journey that we will have ahead of us. Those were the five top questions that social media marketers wanted answered. I just want to talk about a few other data points here that I thought were interest someone talk about quicker than others. Obviously, of those that were surveyed, 97% are using social media to market their businesses. If you're one of the 3% that aren't, it's obviously you're missing out on ah lot of the opportunity that many who are already using social media are obviously finding. And 97% indicated they're participating in social media marketing. 86% of marketers said the social media was important to their businesses, so there's still that 11% that are doing it but don't see its importance yet, which I believe they will. But clearly those that are engaging the social media already seen the benefit to the business Now. The problem, though, is what exactly is that benefit? I mentioned the statistic of all those people who weren't able to indicate the r a y their programs. Here's a great stat of those that were asked, How do you measure your are alive? Your social media activities. Only 26% were able to measure their social media activity. So once again, what are the 74% doing is really a scary thought. There will be a day of reckoning, a day of awakening when bosses and executives are going to say, What is the R y of everything that we do here? Social media is not any different than any other channel out there, the same as they are. I have a press release, our website. The day will come when marketers are gonna have to show what that are. Y is, I believe, if they want to continue to maintain their program. Another interesting one was similar to how marketers aren't able to measure the R. O I of their social media activities. The surprising thing was on Lee. 37% of those surveyed believed that their Facebook marketing was effective. You know, almost everybody surveyed is using Facebook for their marketing, so only 1/3. Feeling that Facebook is effective is really surprising. Races to wishes. Number one. Is it possible to have effective Facebook market? I believe it is. But number two, if all these companies don't believe it's effective, what are they doing and what are they trying to do? And how did they plan to improve that? Of all the social media platforms, I think there is as much information that could be out there pertaining to Facebook marketing, whether it's in books or blog's or a paid advertising plot from the Facebook has. That in a variety of ways can help businesses really leverage the present. So this is another really head shaking. Well, head scratching is the better term. Their results. Here's another one. So I mentioned that I felt that most socially marketers just weren't spending enough time and trying to figure out the platforms because, like I said, they're not rocket science. Here's 1 17% of the marketers spend more than 20 hours each week and social media, if your job is social media, I would expect that you'd be spending a lot of time on social media now within a social media position. You have internal reporting. You have content creation, you have analytics. There's obviously other things that you need to dio. But 17% of marketers are spending more than half their time and social. If you look at a 40 hour work week, why aren't 83% of market is spending more time in the trenches, engaging with others, following others, reading information, experimenting, trying to figure it out? And once again, I think you know not having a social media strategy and just not having experience. As you know, Social media is not like Seo, where you set it up and you follow it once a month and and everything goes, it's it requires daily effort and daily activity, so it's a surprising number. But then again, considering all everything else that we see here, it's not surprising now the benefits of social media marketing this was very were interesting. That increased exposure was the number one answer, 89% an increased traffic at 75%. But you would think that if you have increased exposure, increase traffic, it would lead to improve sales. The interesting thing was only 43% of those surveyed found that increased sales was a benefit of social media marketing. Now there are intangible benefits, and it was actually a pleasant surprise to see that 47% of those surveyed found that reduced marketing expenses was one of the main benefits. And this is something that I've always talked about that CEOs and executives speak the language of excel. So if you're trying to create an objective and determine r a Y k p eyes, you know it's either increase sales or decreased expenses, or it's gonna be an intangible benefit that's gonna be ver ver it hard to calculate and everybody looks the increased sales, decreased expenses. I believe that social media can be equally important. Just gonna talk about a few other things here. Let's look at the most commonly use social media platforms. This may be surprising some clearly there are seven platforms that over 40% of those interviewed responded to. That they were using Facebook was number one at 92%. Twitter was number two, it 80%. Twitter, being number two, does not surprise me at all, and I mentioned how I believe that Twitter is the hyper social connector of the B to B and B to C World. So that's sort of what I thought I would see linked and be number three. Blogging is already up to 58%. So once again, if your company hasn't started a blogger, you don't see the benefits of it. You're obviously missing the boat here with so many of your peers that have already started a blogger and obviously blogging and the benefits of blood and go beyond the scope of this podcast. But if you're just going to women that working, you'll you'll find plenty of posts. And, as I say, for every social media strategy that I create, a blogger is always a centerpiece of that strategy. The interesting one that I thought was that YouTube was actually ahead of Google Plus and that Pinterest was almost a strong as Google plus. Now, YouTube obviously can be extremely beneficial cos a lot of ways video being the most powerful medium video. Also requiring the most resource is I would say the Google Plus should be much higher, and I expect to see it much higher when they do this next year. And Pinterest it was interesting. At 41% I thought that Pinterest would actually at this point b a lot higher. So although there's a lot of buzz about Pinterest and Google, plus, if you're one of the 60% or so that haven't really engaged in it from a business perspective, you're not really late to the game. In fact, with Social Media, you're never late to the game with any platform. But hopefully, if you were trying to think about what platform should you do next? After Facebook, Twitter, Arlington and blogging? Good reminder about YouTube and then Google, plus imp interest for the other surprising stat Now for business to consumer. What was the number one choice of the social media platform that you'd use? Facebook? Number one wasn't surprising. What surprised me that Pinterest was down there at number six after blocking Twitter, Lengthen and YouTube, I thought that especially consumer facing brands, especially if you're an e commerce site, would find a lot of value from Pinterest. I assume that's gonna continue in the future for B two B, The surprising one. Well, I expected linked in to be number one. What I didn't expect was that Facebook would be tied with linked in at 29%. Is this a problem with the definition of B to B? Or is there a B to B side of Facebook that a lot of businesses haven't figured out? Or our businesses under leveraging linked in as their number one site for B to be social media marketing? And it's probably a combination of all of those. I'm gonna end here with three more stats. The social media platforms that marketers want to learn more about. Well, if Facebook, LinkedIn and Twitter are the most common platforms, it goes to show that social media marketers already sort of get those platforms, even though all those people said they couldn't find their Facebook marketing effective. But I'll leave that for another podcast that blogging and Google, plus over 60% of those ass those platforms they want to learn more about. So I'm gonna do my best. Women that working already has a great blogging blogger with Kristy Hinds and Google, plus a blogger with Mark Cha Pagan, and I'm gonna do my best to be able to share Maura about my own perspective of those two platforms as well. And then here's a good one. Social media outsourcing. Many people who know me and my business know that I concentrate on social media strategy consulting. I do not do outsourcing, and I do not believe philosophically that I should be doing social media on behalf of brands. And what we're finding is that 74% of companies agree that social media should not be outsourced, and in fact, they're not outsourcing it. In fact, those that are being outsourced only 26% that was 30% a year ago. So clearly the way of the future is that companies want to do social media themselves and avoid the outsourcing and the interesting one. And this is the last stop that I'm gonna share with you. Is that of those air outsourcing? The biggest aspect that they're outsourcing the third parties is design and development, with 15% of those being asked are outsourcing those tasks? That's not surprising if social media relies on engagement. Social media relies on content on strategy on analytics and what have you. But you also need a lot of graphics, whether they're infographics or whether you set up pages or photos that you want to create to help your Facebook or Pinterest postings go viral or what have you. That design and development is really one area where you need creative and experienced professionals who know how to manipulate images to get that work done for you. All right, well, my apologies if I sounded like I was blabbing during this podcast. Obviously, this report is a great report. It's 43 pages, assuming it's available somewhere on social media examiner dot com. It's a real eye opener to me to see, you know, over 3000 marketers. This is the state of the Union. And like I said, it's a surprising state of the Union if you're still trying to figure social media out. And maybe as I was talking, you were nodding your head as I talked about the results. Well, you're not alone, and I guess that's a good thing to know. For my perspective, I just see a huge upside in helping businesses and professionals with their social media marketing. And I'm gonna do even Maur to commit myself to that mission, both in the social business, someplace podcast, and I might be like women that working dot com thank you again for listening. I appreciate your rating on iTunes. And once again, if there's any topic you want me to cover, please feel free to reach out to me. Neil Out. Women that working dot com Bye bye and make it a great day. Everybody, Thanks for listening to another edition of Social business Unplugged. We appreciate your subscribing to our podcast. Please help us spread the word by sharing it on social media or adding your rating and comments in iTunes. If you would like to appear on the podcast or have content that you would like covered, please contact Neil Schaefer. Kneel at windmill networking dot com. Also, please subscribe to the windmill networking blogger on social media Strategy at windmill networking dot com. Thanks again and make it a great day.