Dan Landin’s little tweet caught my eye this morning. Dan highlights an interesting study from Brand Science Institute. This is too good not to blog about. It deals with a german study on corporate social media projects during the past 7 months. It was conducted in order to understand why most social media campaigns backfires. BSI included 560+ marketers in its analysis, representing 52 brands from some of the largest companies across 12 European countries.
Here are the findings:
81% of all companies don’t have a clear social media strategy
Corporates tend to take twice as long as start-ups for social media projects
Only 7% understand the real value of customer interactions
Only 27% have a clear understanding of their customers
Social media projects are three times more under control
73% had to show the money after 12 months
76% feel that legal departments hinder social media expectations
87% had to correct their social media expectations
72% thought social media must be viral
68% never heard of the 1-9-90 rule (1% of people create content, 9% edit or modify that content, and 90% view the content without contributing)
84% compare social media performance with standard media measures
76% don’t moderate social media projects accurately (if at all)
Only 7% understand the CRM value of social media
91% allocate budgets the wrong way (meaning: too small budgets on social media)
37% think that social media is a media buy
53% were stepping into the geek-trap
92% are not aware of their Facebook dependency (The importance of the ”I like”button). Speaking of which: shouldn’t FB also include a ”I dislike” or even a ”I hate” button? Personally I think this would be really interesting.)
71% take expensive upfront investments to secure technical functionality
Only 11% have social media guidelines
86% don’t have a clue how to handle a social media backlash
Only 4% share their social media experience throughout the company
(Have a look at the original presentation on Slideshare here.)
