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20 Stats That Explain Why Marketers Still Struggle to Measure Social Media ROI [Data]

20 Stats That Explain Why Marketers Still Struggle to Measure Social Media ROI [Data] | Small Business Development | Scoop.it
A look at some interesting statistics about why marketers still struggle to measure the ROI of social media marketing.

 

When it comes to social media, many marketers are still figuring things out as they go. This is especially true in terms of justifying their investment of time and money into social media marketing efforts.

 

But LinkedIn launched 9 years ago. We've had 8 years to get to know Facebook, and 6 to wrap our heads around Twitter. So why are so many of us still struggling to report on the value of social media? For quite a few reasons, it turns out. We've compiled data from a handful of different recent studies to break apart this question and zero-in on the key challenges social media marketers are struggling overcome. Let's dive in.

 

Marketers' Social Media Usage & Measurement

 

1) 84% of B2B marketers use social media in some form. (Source: Aberdeen) Tweet This Stat

 

2) The majority of marketers (59%) are using social media for 6 hours or more each week. (Source: Social Media Examiner) Tweet This Stat

 

3) 83% of marketers indicate that social media is important for their business. (Source: Social Media Examiner) Tweet This Stat

 

4) 53% of social media marketers don't measure their success. (Source: Awareness, Inc.) Tweet This Stat

 

5) 52% of marketers cite difficulties in accurately measuring ROI as their biggest source of frustration in social marketing. (Source: Adobe) Tweet This Stat

 

6) 96% measure number of fans and followers, 89% measure traffic, 84% measure mentions, 55% track share of voice, and 51% track sentiment. (Source: Awareness, Inc.) Tweet This Stat

 

What These Stats Say About the Struggle to Measure Social Media ROI

 

For one thing, they say that marketers are scrappy. We'll use any tool within reach to assess our effectiveness and help us move from a gut feeling to a proven method. But the reason fan, follower, and traffic volume are at the top of the list has far more to do with ease of measurement than with priority. Social media channels come equipped with a handful of useful metrics to measure reach and engagement, but what's missing is something that ties that activity to a marketer's core business and bottom line. We've identified three core reasons why this is the case:

 

Reason #1: Lack of an Integrated System

 

7) By 2013, lead management campaigns integrating 4 or more digital channels are expected to outperform single- or dual-channel campaigns by 300%. (Source: Gartner) Tweet This Stat

 

8) 60% of businesses do not have an integrated social media strategy. (Source: Satmetrix) Tweet This Stat

 

9) 50% see the need for tighter integration between social and the rest of marketing and 35% see the need for better integration between marketing and the rest of the business. (Source: Awareness, Inc.) Tweet This Stat

 

10) 56% of companies struggle to efficiently capture and analyze information from multiple social media channels. (Source: Gleanster) Tweet This Stat

 

11) 54% of marketers said the leading difficulty in measuring social media ROI is the inability to tie social media to actual business results. (Source: Awareness, Inc.) Tweet This Stat

 

12) When asked why they struggle to tie social media to business results, 54% of respondents said it's hard to analyze unstructured social media data. (Source: Awareness, Inc.) Tweet This Stat

 

13) When asked why they struggle to tie social media to business results, 50% of respondents said it's hard to integrate disparate social media data resources. (Source: Awareness, Inc.) Tweet This Stat

 

What These Stats Say About the Struggle to Measure Social Media ROI

 

There is tremendous potential in connecting social media data to your overall marketing analytics and relationship management software. And yet, according to multiple reports we found, integrating social media -- particularly social media data -- into an overall marketing strategy is among the toughest challenges out there. A lot of this is because social media tools tend to be isolated from the rest of marketing tools.

 

This underscores a much larger problem in the marketing field. As new channels have emerged and become more dominant, marketers have adopted a collection of different tools to manage them. You have an email service provider for email marketing. A social media tool for social. And website analytics for all that happens on your site. But the true story of your customer experience and your marketing strategy exists in the intersections between these channels. Without sharing data between the tools, marketers get a fragmented view of their marketing.

 

The good news is, now that the problem is clear, a number of software platforms are moving to solve it. HubSpot now integrates all of your marketing data in one place. HootSuite has been moving to integrate with multiple analytics providers. And piece by piece, other tools are starting to connect through API integrations.

 

Reason #2: Lack of Agreement on Purpose and Goals

 

14) The Social Media Examiner found that respondents most often saw the key business benefits of social media marketing to be increasing exposure and traffic to their site. Tweet This Stat

 

15) Awareness, Inc., on the other hand, found that 78% of respondents listed "better customer engagement" as their top goal. Tweet This Stat

 

What These Stats Say About the Struggle to Measure Social Media ROI

 

Another reason some marketers struggle with measuring social media ROI is the lack of certainty around goals. We find that when we ask marketers about their goals for social media, their answers range broadly. Sometimes marketers focus on qualitative goals like engagement or brand affinity. Other times, they align closely with what they can definitively measure like follower count or traffic. The challenge, however, is that too often social media goals reflect the core functionality of the channel rather than the core needs of the business.

 

Reason #3: Difficulty Interpreting First Touch vs. Last Touch Attribution Data

 

16) Last-click attribution is the most common measurement model used by marketers to evaluate social media results. (Source: Adobe) Tweet This Stat

 

17) Adobe found that using first-click attribution instead of last click resulted in social media ROI data that was nearly twice as high (88%). (Source: Adobe Digital Index) Tweet This Stat

 

What These Stats Say About the Struggle to Measure Social Media ROI

It’s called last-click attribution because conversions are measured based on the most recent channel that brought a visitor in before they converted. Think of it like giving your most recent date credit for leading to your wedding engagement rather than your first date. The problem with measuring social media through last-click attribution is that social channels tend to engage people at the top of the sales funnel rather than right before they buy. Even for marketers who manage to integrate their social media channels into their overall revenue and customer acquisition analytics, there are still decisions to be made about how to interpret that data.

 

Some Good News in Social Media ROI

 

18) In the next 5 years, marketers expect to spend 19.5% of their budgets on social media, almost three times more than the current level. (Source: The CMO Survey) Tweet This Stat

 

19) Fewer than 30% of large organizations will block social media in 2014, vs. 50% in 2010. (Source: Gartner) Tweet This Stat

 

20) According to a survey of 700 marketers, 75% intended to increase social media spending this year. (Source: Wildfire) Tweet This Stat

 

What These Stats Say About the Struggle to Measure Social Media ROI

 

Social media began for many as a nights-and-weekends project. Without years of historical evidence as to its effectiveness, many companies were slow to dedicate budget to it beyond just a little bit of staff time. The good news is, research is beginning to show a gradual reversal of that position.

 

Despite the current challenges to measuring social media ROI, there is some meaningful movement in the space. All-in-one software platforms and analytics integrations are making a single view of marketing data more possible, and investments in social media measurement seem to be on the rise.

 

What about you? What are your key ROI goals for social media and what, if any, limitations are standing in your way to achieve and measure them?

 

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The Image Works Blog

The Image Works Blog | Small Business Development | Scoop.it

Introducing... Miss Way too Fierce and totally got it going on...

Superstar, Production Cook, Future Restauranteur,

Epiphany Brittanya Smith.

The princess of The Image Works Corporation.

#WorkThat!  Thank you, #T.D.Jakes.

#TheImageWorksCorporation, #TheJOY!

TheIWC_AJA's insight:

Happy Friday, October 10, 2014.

Welcome to… #TheKingdomofHisDearSon

TheKingdomofHisDearSon experience   Did you know [?]

God’s #empowerment::blessing to Man: male and female is

#TheWord… especially, spoken, #Beloved. #3John2.

#TheJOY! #TheImageWorksCorporation. #NowBelieve!

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Faith groups speak out against Obama's decision to delay immigration reform - Deseret News

Faith groups speak out against Obama's decision to delay immigration reform - Deseret News | Small Business Development | Scoop.it
Salon Faith groups speak out against Obama's decision to delay immigration reform Deseret News Acknowledging the difficult political climate the president has to negotiate, Eddie Carmona, campaign manager for the faith-based PICO National Network's...
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Happy Saturday, September 20, 2014. Greetings Businessman and Businesswoman, It is an Economic World. Macro: Sozo (Salvation) Micro: Believe. Let us effect change in a meaningful manner. #TheJOY! #TheSoZoëLife; #TheImageWorksCorporation.

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The Image Works Blog

The Image Works Blog | Small Business Development | Scoop.it

“The Advantage of being ‘Uniquely You”

 

(East Providence, RI, USA, Wednesday, August 20, 2014. ) When a Master Designer, in the process of creating a masterpiece, changes colors and patterns at different intervals, in order to create the image that the Master Designer has in their Vision, would we who are the onlookers (witnesses) label it a “Failure?” Of course the answer is, “no.”

 

Consider, why do we who are in God’s “Process of Life,” label the incremental development (The Some 30, 60, Some 100 Fold, and, Newness of Life) of others in their “Change Process/Developmental stages” a failure? 

 

TheIWC_AJA's insight:

Happy #FashionForwardFriday, October 10, 2014. #TheKingdomofHisDearSon experience... Consider.. Why do we who are in God’s “Process of Life,” label the incremental development (The Some 30, 60, Some 100 Fold, and, Newness of Life) of others in their “Change Process/Developmental stages” a failure? 

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The Image Works Blog

The Image Works Blog | Small Business Development | Scoop.it

The Blessing of The Lord maketh rich and He adds no sorrow with it. It is written Proverbs 10:22. Do you believe?  I believe. So, when is the last time you were sorrowful? Me? It’s been a while.

#The JOY! #TheImageWorksCorporation. 

Happy #FashionForwardFriday, October10, 2014.

Welcome to… #TheKingdomofHisDearSon.

The Kingdom of His Dear Son experience 

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Happy #FashionForwardFriday, October 10, 2014.

 Welcome to… #TheKingdomofHisDearSon

The Kingdom of His Dear Son experience Is #prospering a #TopPriority for #You?

It is for #God, Beloved. #3John2. #TheJOY! #TheImageWorksCorporation.

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Pinning for PR: 3 successful Pinterest campaigns

Pinning for PR: 3 successful Pinterest campaigns | Small Business Development | Scoop.it

With each passing day, PR is being nudged away from the familiar comfort of text-based communications to more visual forms of communications, especially in digital campaigns. 

Today, among other platforms, Pinterest must be part of your social PR campaign strategy, especially if your target audience is female. It’s easy to dismiss Pinterest as a site where women just share pictures of fashion and food, but do so at your peril. Consider this: 

• One-third of the women in the U.S. use Pinterest, according to Pew Research Center’sSocial Media Update 2013.
• 85 percent of the estimated 40.1 million monthly Pinterest users in the United States in 2014 are female.
• New data from social sharing service ShareThis shows that for the first time, Pinterest outpaced email to become the third-most popular sharing channel in the fourth quarter of 2013.
• Pinterest is the channel of choice for moms, who share three times more than the average user, according to MarketingLand.com.


Still need to be convinced? Here are three examples of creative and effective PR campaigns using Pinterest as a central communications hub: 


Via Jeff Domansky
TheIWC_AJA's insight:

Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Jeff Domansky's curator insight, July 31, 2014 10:20 PM

Pinterest and PR can be a winning combination when integrated as these three successful campaigns show.

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Brands Jump the Sharknado With Whirlwind of Fishy Pun Tweets | AdWeek

Brands Jump the Sharknado With Whirlwind of Fishy Pun Tweets | AdWeek | Small Business Development | Scoop.it
Don't act surprised. You knew it was coming, and the brands knew it was coming. The bad-on-purpose Sharknado 2: The Second One premiered last night on Syfy, and people watched it.

Via Jeff Domansky
TheIWC_AJA's insight:

Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Jeff Domansky's curator insight, July 31, 2014 10:08 PM

It's not to late for your brand to Jump the Sharknado 2 too! ;-)

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Arup | Thoughts | Legislation is making BIM happen

Arup | Thoughts | Legislation is making BIM happen | Small Business Development | Scoop.it
RT @ArupThoughts: How can we unlock the full potential of #BIM? A change in procurement mindsets http://t.co/om3A6il82h http://t.co/9HoQZer…
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Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Twitter: the future's bright - but more like Facebook than ever

Twitter: the future's bright - but more like Facebook than ever | Small Business Development | Scoop.it
Twitter’s quarterly results were unexpectedly positive, but its plans point to ditching replies and moving to a Facebook-style curated feed.
TheIWC_AJA's insight:

Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Oracle slashes Larry Ellison's stock options following shareholder discontent

Oracle slashes Larry Ellison's stock options following shareholder discontent | Small Business Development | Scoop.it
Oracle slashes Larry Ellison's stock options following shareholder discontent http://t.co/WOr6Gdo0xu #Technology
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Happy Wednesday, July 30!

Words Have Power… “What Do You Say About You?”

Align your worth and your yield via The Law of Return in your “Words.” #TheImageWorksCorporation

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Within grasp: A world without (charging) wires - Fortune

Within grasp: A world without (charging) wires - Fortune | Small Business Development | Scoop.it
Within grasp: A world without (charging) wires
Fortune
Last month, it was revealed that Toyota had plans to release a plug-in electric Prius in 2016 that needed no plug at all to recharge, thanks to wireless technology from a U.S.
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Words Have Power… “What Do You Say About You?”

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Cold War Strategy: US hits Russian energy & finance sectors with more sanctions

The United States announced a new round of sanctions against Moscow, accusing the Kremlin of supporting anti-Kiev militias in eastern Ukraine and threatening to cripple the Russian economy....
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Words Have Power… “What Do You Say About You?”

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Life at Dell: Finance Development Program

Dell's Finance Development Program (FDP) is a two-year career development program that allows entry-level team members in Global Finance to participate in six-month rotations to build their...
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Happy Wednesday, July 30!

Words Have Power… “What Do You Say About You?”

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See The Love

See The Love | Small Business Development | Scoop.it

1 John 3:1Amplified Bible (AMP

See what an incredible quality of love the Father has given (shown, bestowed on) us, that we should [be permitted to] be named and called and counted the children of God!

And so we are!

The reason that the world does not know (recognize, acknowledge) us is that it does not know (recognize, acknowledge) Him.

TheIWC_AJA's insight:

Happy #FashionForwardFriday, October 10, 2014. 

#JOY! #TRUTH

I SEE it in my Vision;

I Believe it in my Mission;

I Have it in my Reality; #Prosper.

The Image Works Corporation

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Small Business Optimism Improves, Still Low - WABE 90.1 FM

Small Business Optimism Improves, Still Low - WABE 90.1 FM | Small Business Development | Scoop.it
Small Business Optimism Improves, Still Low
WABE 90.1 FM
“Small business owners, frankly, are very reluctant to go out and hire somebody," says Kyle Jackson, head of Georgia's chapter of the NFIB.
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Happy Friday, September 12, 2014. Greetings Businessman and Businesswoman, It is an Economic World. Macro: Sozo (Salvation) Micro: Believe. Let us effect change in a meaningful manner. #TheJOY! #TheSoZoëLife; #TheImageWorksCorporation.

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The Image Works Blog

The Image Works Blog | Small Business Development | Scoop.it

 Welcome to… #TheKingdomofHisDearSon

The Kingdom of His Dear Son experience  God is Love… Glorious Perfect Love. With this understanding, when does God allow “hate” in His Presence… never! As a matter-of-fact, God commands respect and; thus, the Man (male and female) response would be repentance to maintain the Glorious Perfect Love relationship with The Eternal Living God.

 

Do not allow unforgiveness to consume you. Remember, the atomic measurement of Glorious Perfect Love is still love or by Man’s (male and female) observation may be labeled, “like.”

 

“Be Empowered To Prosper.” 

Thank You, Cartier (Photo credit).

 

TheIWC_AJA's insight:

Happy #FashionForwardFriday, October 10 2014.

Welcome to… #TheKingdomofHisDearSon.

The Kingdom of His Dear Son experience .

God is Love… Glorious Perfect Love. 

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The Image Works Blog

The Image Works Blog | Small Business Development | Scoop.it

Complete JOY… Complete JOY… Complete JOY, My JOY is complete… How is your Joy? It is written, John 15:11.

Jesus said, “It is finished.” This is how I know My JOY is complete.

How is your JOY? #Rejoice. Luke 10:19 and 20. 

#TheJOY! #TheImageWorksCorporation

Happy #FashionForwardFriday, October 10, 2014. 

#TheKingdom of His Dear Son experience 

TheIWC_AJA's insight:

My JOY is complete… How is your Joy?  #JOHN1511.

#TheJOY! #TheImageWorksCorporation.

Happy #FashionForwardFriday, October 10, 2014. 

#Welcome to… #TheKingdomofHisDearSon.

The Kingdom of His Dear Son experience. 

 

 

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Unusual and Useful Twitter Search and Filtering Techniques

Unusual and Useful Twitter Search and Filtering Techniques | Small Business Development | Scoop.it

If you follow more than a handle of accounts, your Twitter stream can quickly become a firehose of irrelevant information. Because of this, many veteran users never visit their stream. Instead, they create lists or run saved searches.


Here are a few other options to help you filter your Twitter stream for more useful, relevant, information....


Via Jeff Domansky
TheIWC_AJA's insight:

Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Jeff Domansky's curator insight, July 31, 2014 10:33 PM

Your Twitter stream can quickly become a firehose. Turn down the noise with these excellent Twitter search and filtering techniques.

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Why Instagram Ads Could be Huge for Facebook's Mobile Empire

Why Instagram Ads Could be Huge for Facebook's Mobile Empire | Small Business Development | Scoop.it
It's still unclear when Instagram ads will become widely available to marketers. Facebook doesn't appear to be in a hurry to make purchasing and placing Instagram promos an automated experience, instead maintaining that its so-called white glove service to a few dozen Fortune 500 brands will remain the status quo.

Via Jeff Domansky
TheIWC_AJA's insight:

Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Jeff Domansky's curator insight, July 31, 2014 10:16 PM

Facebook considers its next moves with huge revenue on the horizon for Instagram ads.

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Tweet from @SenSanders

Tweet from @SenSanders | Small Business Development | Scoop.it
The Senate is now voting on the Sanders-Miller veterans care legislation. http://t.co/0isu6EbOuo
TheIWC_AJA's insight:

Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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Commission finalises new CAP reform direct payment rules - News, analysis and expert comment on the CAP, agriculture, agribusiness, farm trade and the food industry worldwide

Commission finalises new CAP reform direct payment rules - News, analysis and expert comment on the CAP, agriculture, agribusiness, farm trade and the food industry worldwide | Small Business Development | Scoop.it
RT @Tim_AgraEurope: #Commission finalises new #CAPreform direct payment rules: http://t.co/DLwUb0Jbwi #CAP
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Happy August 1! The #Confident Soul is not self-trusting. The #Confident Soul anchors itself in #Truth. #TheImageWorksCorporation #TheJOY! #Zoë. 

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4 Leadership Skills You Need, No Matter How High You Rank

In a recent survey, researchers found these abilities are essential whether you're a middle manager or the CEO.
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Words Have Power… “What Do You Say About You?”

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Investing Successfully in Technology

From 3D printing to wearable internet devices, technology is changing how we live and work. It's giving investors a reason to smile, too. In the video, Michael Strobaek, Global Chief Investment...
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Words Have Power… “What Do You Say About You?”

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North Carolina Offer to Purchase and Contract - PDFfiller

North Carolina Offer to Purchase and Contract - PDFfiller | Small Business Development | Scoop.it
Do your due diligence with NC standard form 2-T! Facilitate the signing and tracking of North Carolina Offer to Purchase and Contract using PDFfiller. (What does 'due diligence' mean in North Carolina?
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Words Have Power… “What Do You Say About You?”

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DOWNLOAD Boachsoft Finance 2012 FULL VERSION

Download link: http://litle.me/342633 Boachsoft Finance 2012 new Boachsoft Finance 2012 netload Boachsoft Finance 2012 keygen Boachsoft Finance 2012 serial Boachsoft Finance ...
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Words Have Power… “What Do You Say About You?”

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2014 Big Ten media days roundtable - ESPN (blog)

2014 Big Ten media days roundtable - ESPN (blog) | Small Business Development | Scoop.it
Bleacher Report
2014 Big Ten media days roundtable
ESPN (blog)
CHICAGO -- Big Ten media days are in the books and the countdown to the 2014 season can officially begin.
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Words Have Power… “What Do You Say About You?”

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