In Q1 of 2014, Spredfast commissioned Forrester Consulting to conduct research uncovering how the world’s largest companies organize, plan, and execute social marketing efforts. Preview the The 2014 State of Enterprise Social Marketing Report and download a full copy here: http://sfa.st/1ntzGaR
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The 2014 State of Enterprise Social Marketing Executive Summary
1. The 2014
State of Enterprise
Social Marketing
Report
Results from Q1 2014 Commissioned study conducted by Forrester Consulting on behalf of Spredfast.
HOW THE WORLD’S LARGEST
COMPANIES ARE PLANNING,
EXECUTING & MEASURING SOCIAL
In Q1 of 2014, Spredfast commissioned Forrester Consulting to conduct
research uncovering how the world’s largest companies organize, plan,
and execute social marketing efforts. Forrester Consulting surveyed
160 senior leaders managing or
overseeing digital or social marketing
―Director, Vice-President or C-Level
executive―at companies with revenue
of one billion dollars or greater.
P a r t i c i p a n t s s p a n n e d c o m p a n i e s
across eight industry verticals from
the United States and Western Europe.
The study unearths
key insights & trends
from the world’s
largest companies
deploying social
marketing programs.
2. The 2014 State of Enterprise Social Marketing Report
2
AUDIENCE INVOLVEMENT IS A DOMINANT GOAL
Involving and interacting with audiences
is a chief social marketing initiative.
• The primary social marketing business
objectives are building brand awareness
and brand preference. (See chart)
• 73% of companies measure the business
value of social marketing through audience
resonance (engagement metrics of comments,
responses, shares).
• 69% of companies encourage and/or recognize
customers that talk about them on social
networks to foster audience involvement.
Build Brand
Awareness | 39.2%
Build Brand
Preference | 29%
Drive Direct
Leads or Sales | 15.2%
Increase Customer
Loyalty | 11.2%
Provide Customer
Service | 3%
Other | 2.3%
Results from Q1 2014 Commissioned survey
conducted by Forrester Consulting on behalf of
Spredfast Does not include “all other” responses
SOCIAL IS A GROWING PRIORITY FOR THE WORLD’S LARGEST BRANDS
Enterprise companies overwhelmingly report social
marketing to be a high, and growing,
priority from the top-down.
• Social marketing is currently an executive-led,
and organization-wide, priority. (See chart)
• 69% of large companies are increasing
staffing for social marketing in 2014.
• 42% of large companies have plans to use a
social network that wasn’t utilized in 2013.
• Social budget is growing faster than total
worldwide marketing budget budget. 68% of
companies are growing their social marketing
budget, compared to only 55% increasing total
worldwide marketing budget from
2013 to 2014.
Executive Vice-President
Senior Vice-President
Vice-President | 38.2%
CMO | 34.4%
Director | 16.7%
Other C-Level | 7%
Manager | 3.8%
Results from Q1 2014 Commissioned survey
conducted by Forrester Consulting on behalf of
Spredfast “Other / Prefer Not to Say” not included
for percentage
Senior-Most
Executive Responsible
for Social Marketing
Primary Business
Objective of Tactics
Across Major Social
Networks
3. The 2014 State of Enterprise Social Marketing Report
ENTERPRISE MARKETERS ARE FOCUSED
ON MEASURING WHAT MATTERS
Large companies are aligning how
they measure performance and gain
actionable insight from social marketing.
• Reach and resonance are the top two
measurement areas - aligning with objectives of
awareness and preference. (See chart)
• Just over half of companies (56%) are tying employee
performance to the business value created by social
marketing tactics.
• Social marketing measurement is not settled science.
73% of companies report continually evolving best
practices on measuring business value.
SOCIAL IS BEING CONNECTED TO
OWNED, BRAND MARKETING
Social marketing does not operate in
a vacuum. Corporate social marketing
tactics and public social content are
being incorporated into the broader
marketing mix.
• 67% of enterprise companies are integrating
social with broader (non-social) marketing efforts.
(See chart)
• 61% of companies curate social content on
owned channels.
• Most companies are aligning social tactics with
the customer purchase journey.
• 81% of companies use web analytics tools to
connect the business value of social marketing
to owned marketing channels.
Metrics used to help measure
business value created by
social marketing tactics
3
Conversion Metrics
referrals, unique visitors,
lead to purchase
Velocity Metrics
retweets, repins, shares
Quality Metrics
likes, ratings, votes
Engagement Metrics
comments, responses,
sharing/shares
Volume Metrics
number of fans, followers,
community members
Results from Q1 2014 Commissioned survey
conducted by Forrester Consulting on behalf
of Spredfast
80%
70%
60%
50%
40%
30%
20%
10%
17.5%
Completely agree
22.5%
26.9%
20%
8.6%
3.1%
3.1%
Do not agree at all
Social marketing efforts integrated
with broader marketing efforts
Results from Q1 2014 Commissioned survey
conducted by Forrester Consulting on behalf of
Spredfast
30%
25%
20%
15%
10%
5%
4. The 2014 State of Enterprise Social Marketing Report
4
Want more insights on how the
world’s largest companies are
planning, executing and measuring
social marketing efforts?
Download a copy
of the full 2014 State
of Enterprise Social
Marketing Report.
Here's what you'll find inside
I. STAFFING AND ORGANIZATION
Who owns social within enterprise companies? Which teams and departments
are involved? How is staffing growing?
II. PRIORITY OF SOCIAL MARKETING FOR BUSINESS
What percent of global marketing budget is being allocated to social marketing
programs? How are enterprise companies integrating social marketing across
broader marketing efforts?
III. SOCIAL MARKETING STRATEGY AND TACTICS
What are the top business objectives of social marketing programs? What are
the most popular network-based and off-network tactics being used?
IV. MEASUREMENT AND INSIGHTS OF SOCIAL MARKETING
How are companies measuring social marketing success? Which challenges do
they face in communicating the business value of social?