NEW YORK: Corporate leadership in social media engagement results in better marketing and sales initiatives, according to a study released Friday at the Arthur W. Page Spring Seminar by PulsePoint Group and the Economist Intelligence Unit.
More than four in five respondents (84%) said a socially engaged enterprise leads to improved marketing and sales effectiveness, and nearly seven in 10 (68%) said it leads to improved product and service quality.
“One of the things this study really proved to us is that you can find examples of leaders who really understand this notion of mutual value and exchange, those are the ones that are winning with social media,” said Jeff Hunt, partner at PulsePoint Group. “The companies that are just, sort of, one-way pushing content out are not doing as well.”
Still, 45% of respondents said their greatest barrier to success with social engagement is the inability to prove ROI. Other roadblocks are legal and regulatory concerns (33%) and an unclear or complete lack of strategy for change (32%).
The companies also found that the most socially engaged companies see four-times the business from social engagement than the least engaged companies.
“We believe that engagement represents the next level of value in the relationship, whether it's with a customer or any other key constituent,” said Hunt.
The companies also investigated factors that contribute to social media-driven business success, and more specifically, key drivers that separate the leading and lagging companies within the social media space.
The groups surveyed 157 North American C-level executives and 159 executive-level leaders from 168 companies with fewer than 1,000 staffers, as well as 147 companies with more than 1,000 employees.