From Control to Connection, Taking Advantage of Social Media – Advertising Week 2011
October 5, 2011 9 Comments
Social Media continues to be a major player in marketing themes presented at Advertising Week. Booz & Company and Buddy Media presented findings from a recently conducted joint-research study examining major companies across multiple industries. The study looked at how companies are transforming their business as they expand their social media and digital marketing activities.
The key benefits for social media remain the same –
Building brand
Engagement
Within the study a need for new players within traditional marketing surfaced.
- Community management – A call for content focus with management insights
- Content development – Content needs to provoke a reaction and solicit customer engagement
- Analytics – Understand your audience and tie analytics back to your ROI
The study also called out key success factors to implement and expand digital and social marketing initiatives.
- Ability to adapt and react quickly
- Clear champions/owners
- Support for senior management
- Marketer metrics focusing on brand and value
They also found that social is a bigger slice of the budgets with digital making up usually 3/4 of the total budget . Here is a breakout in order from highest to lowest spend:
- Digital
- TV
- Magazines
- Outdoor
- Newspaper
- Radio
As the advertising landscape is always changing the model for brand marketing is evolving rapidly. I don’t know about you but excited to see what the year brings and how social continues to change our business.
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