All the buzz about using social networking for business can be much ado about nothing, say the experts at Gartner, who reported recently that only 50% of Fortune 1000 companies will receive a worthwhile return on investment (ROI) from their social customer relationship management (CRM) initiatives.
Getting a positive return on investment from a social media campaign isn’t about just counting the number of your Facebook fans and Twitter followers. It’s about linking the social strategy to measurable business objectives, according to Gartner.
Most businesses aren’t doing it right.
A new study released this week from the tech consultants says that half of Fortune 1000 companies will not receive a worthwhile ROI on their social media strategies this year.
For folks who still want to play in the social media space, their advice is siimple: Have a plan, measure its success and make changes if it’s not working.
“One of the keys is to know what you’re trying to accomplish,” says Scott Nelson, a Gartner analyst who focuses on social media strategies for enterprises. “Doing social media because everyone else is doing it is not a strategy.”
FinanceTechNews.com delivers the latest Finance news once a week to the inboxes of over 150,000 Finance professionals.