Digital marketing intelligence website eMarketers reports that social media marketing software company Awareness came out with a study in July of this year that pointed to 'better customer engagement' being a top business objective for social media.
The Awareness study cited 78% of respondents viewing it "as a leading business objective, followed by 51% who said revenue generation was a lead objective". These objectives focus more on relationship building and tying social media back to business results, showing marketers want to go deeper with their social media work than just counting fans.
However, as eMarketers' graphic from an earlier report pasted below shows the ability to track its impact on revenue is limited at best with many respondents suggesting their use of social media extends primarily to promote brand awareness.
Yet as companies employ better metrics they are finding that that a significant majority of marketers were investing more to increase their social media presence across different platforms while also increasing the frequency of content published. A plurality said "they would invest in better integration of social marketing into other marketing initiatives" while working towards better integration of social marketing throughout their organizations.
Attempting to bridge the foregoing gap is enterprise collaboration and community software company, Telligent. The company recently announced two new software developments called Telligent Community 7.0 and Telligent Enterprise 4.0 where Telligent 7.0 is touted as being able to "evolve customer service from a cost center into a revenue driver" while Telligent Enterprise 4.0 will "empower employees to better know, engage and serve customers. Combined, the latest releases provide a complete, 360-degree view into social customer experience."
At a broader systemic level Telligent also claims to address the issue raised by eMarketer wherein "services integrate social throughout the workplace. You can add social engagement to enterprise systems for document management, human resources, ERP and other point solutions; pull information from these systems for broader viewing; and even connect employee social networks with external, customer and partner-facing communities."
Other innovators will surely follow and bring about a comprehensive social media platform that gets at the nub of the problem: revenue enhancement by optimally meeting customer expectationsVijay is Chief Operating Officer and part-founder of Apple Core Hotels- a chain of 5 midtown Manhattan hotels offering value and comfort in the heart of the city. Member of the board of Directors - Hotel Association of New York.