Is your brand realizing the business value of social media?

Both Charlene Li and Brian Solis have put together some insightful information that highlights the changes in business in 2013, moving into 2014, and what value social media marketing can play for them. Are brands realizing the business potential?

In short, the answer is no. Adoption rate for brands is high, it’s not a question of whether they should be in social media, but rather, what is the value? This is where most brands drop off. It’s not enough to have a Twitter account, a Facebook account, or even an Instagram account. Those days of just being on social media are over. Today’s approach needs purpose, it needs to be strategic, and ultimately it needs to be of some value to the audience you’re trying to reach. What is your brand publishing?

If more brands than ever are moving into the social space, why are they missing the value?

Some interesting statistics to note:

  • 78% of companies have a dedicated social media team which is up from two years ago when it was 67%
  • Social media teams have grown from an average of 11 people to approximately 16 people on average
  • 1 in 4 have seen an increase in revenue due to their efforts on social media

Could that last number be higher? The answer is: only if a brand can tie in the value/purpose to their presence in social media.

See the infographic below for more details:

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