In the first of a series of research projects, seeking to understand the return on investment (ROI) of Social Media, the ROI experts at Alinean analyzed which of the Fortune 500, and which industries, were the most engaged with the community, and what factors led to this engagement popularity.
The findings highlight distinct differences in levels of engagement based on company practices and customer profiles, with many companies and industries displaying an enormous leveraging of social media versus peers. As social media grows in use, promotional power and business value, the most popular and engaged companies will have a distinct competitive advantage in revenue generation, marketing efficiency and return on marketing.
The study found that the companies that have the most level of engagement overall in social media are centered in a few industries (on average), especially:
- High Technology;
- Consumer Products;
- Media and Entertainment;
- Wholesale & Distribution;
- Professional Services / Service Providers.
Examining the reasons for engagement popularity, the study highlights five important factors for large enterprise social media engagement success:
- Important and timely content marketing to support social media collaboration, including the development and communication of breaking news, blogs, reviews, thought provoking points of view, research, and entertainment;
- An interactive dialogue with an active and engaged user base, with monitors and representatives responding to / collaborating with participants on a timely and personal basis;
- Special deals, discounts, contests and giveaways to promote, targeting frugal buyers (both business and consumer) who are seeking the lowest price, fastest payback and best value from every purchase in this current “age of austerity” (a condition we call Frugalnomics);
- A strong and passionate “lifestyle” brand connection to its user base;
- A natural demographic alignment with social media participants.
For more information and resources on Social Media ROI, please visit: http://www.alinean.com/socialmediaroi.aspx
An expanded discussion of content marketing strategies to drive social media success can be found on Content Marketing Institute (CMI) at: http://www.contentmarketinginstitute.com/2010/12/social-media-content/#more-3614