Marketers are taking to social media in a big way and 80 percent are measuring the effectiveness of those efforts, according to a study conducted for the Association of National Advertisers (ANA) by Ipsos OTX. Another study, this conducted by Gallup, doesn't dismiss social media's effectiveness in reaching consumers, but it does question its value as a sales driver.
According to ANA, marketers' measurement of the effectiveness of their social media content can be grouped into three buckets: social media metrics; usage statistics; and business ramifications.
Social media metrics are the most popular and include:
Usage statistics include:
Business ramifications include:
Interestingly, the recent State of the American Consumer report released by Gallup found that consumers think the $5.1 billion spent by U.S. companies on social media advertising has very little effect on them, at least when it comes to purchasing decisions.
According to Gallup, 62 percent said social media has no influence on their decisions, while 30 percent said it has some influence and only five percent said it has a great deal of influence. Half of Millennials said social media influenced their purchasing decisions although only seven percent said it greatly affected what they bought.
How effectively are marketers measuring their social media efforts?