Failures and opportunities in social media marketing

On Cnet is news about a new study by Gartner with the catching headline of a 50% failure rate:

75 percent of Fortune 1000 companies are eager to get involved in social-networking initiatives for marketing or customer relations purposes, but 50 percent of those campaigns will be classified as failures

The main problem is (oh wonder) the differing expectations about what will happen during those marketing efforts:

The quirkiest and most addictive campaigns often provide little value for the company and turn out to be fads, whereas marketing efforts on the Web often don’t go over as well with the public.

In addition, the report points out that online usage during the purchasing process of all products and services will increase:

Gartner’s research shows that by 2012 fully half of all purchases will have some online component. That could mean searching for product reviews, reading about a new product on a blog, or comparing prices even if the purchase is ultimately made in a store.

So the need to figure out win-win situations for brands and the community are ever more important.

And furthermore, a „heads up“ for online marketers for the financially difficult times ahead:

Businesses will turn to the Web to stay in touch with consumers during a difficult financial climate. “This is going to be a lifeline,” he said. “Your spirit of customers is probably the only thing you have.”



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