Social Media Pays Off Big: Most Companies Reporting 150% ROI or More
In their latest B2B Social Marketing Benchmark Report – a survey of 3,342 marketers – MarketingSherpa discovered a few very interesting things. First of all, one third of those marketers are achieving at least 150% return on investment (ROI) from their social media marketing efforts. Conversely, 635 marketers aren’t seeing any return at all.
So what is causing this discrepancy?
In the 2010 Social Media Marketing Industry Report by Michael Stelzne, which surveyed 1900 marketers, 43% claimed to spend 4-5 hours each week on social media activities, while 56% are using these sites 6 hours or more each week. Of the companies spending 6 hours or more on social media marketing, 30% spend more than 11 hours on social media sites per week and 12.5% devote a remarkable 20 hours each week to social media.
There is a direct relationship between the amount of time you put into your social media marketing campaign and its success. The benefits of a well run social media campaign include:
• 85% of all marketers indicated that their social media efforts have generated exposure for their businesses.
• Improving web site traffic. More than half of marketers indicated a rise in search engine rankings was a benefit of social media marketing.
• More than half of marketers found social media generated qualified leads.
• 73.8% of businesses that have been using social media for years report it has helped them close business deals. Businesses selling to other businesses (B2B) were more likely to achieve this benefit (51.3%) than those selling to consumers (44.9%).
• 53.1% of people who’ve only invested a few months with social media marketing report new partnerships were gained. Marketers selling to other businesses were more likely to achieve this benefit (60.8%) than those selling to consumers (49.4%).
You have to be impressed by social media marketing’s rapid success. As Sergio Balegno, Director of Research for MECLABS, the parent company of MarketingSherpa, MarketingExperiments and InTouch, stated, “In just a couple of years, social media has rocketed to a place that took the internet a good decade to arrive at.”
So are you utilizing social media?
If you have any questions, contact Grindstone Business Development by calling 1-888-724-7463 or click here today!
Grindstone is a full service, outsourced Business Development Company providing professional sales support and complete sales outsourcing solutions to Domestic and International clients alike. Grindstone specializes in Business to Business (B2B) programs including direct telesales, lead generation, database updating, customer retention, and appointment setting services. Grindstone recruits, manages, and maintains top level talent through a superior management infrastructure. Consistent communication, feedback, and strategy refinement are a core trait. Grindstone is an extension of each client’s business and operates at the highest levels of professionalism. Every client program starts with the goal of establishing a long term ongoing partnership.
Social Media Pays Off Big for Over 1,000 Marketers Reporting 150% ROI or More