Market research and customer insight, CRM and customer service teams are trailing behind marketing, communications and even IT departments when it comes to setting social media strategies within companies, according to a Harvard Business Review study.
• While more than half of companies are using social media, only about a quarter of users say they could identify where their most valuable customers are “talking” about them. And less than one-quarter (23%) are using any form of social media analytics tools, with only 5% using some form of customer sentiment analysis.”
• 40% of respondents cited their most pressing challenges as understanding the potential of social media to make a difference to their business, and measuring the effectiveness of social media activities. When asked to rank the top three benefits of using social media, just 20% pointed to “better understanding of consumer perceptions of brands,” while 19% said “improved insights about our target market.”