Marketing week has recently published an article about how Social Media may not be living up to the expectations from a marketing perspective. Popular sites that are used for marketing such as Facebook, Twitter and Snapchat are not meeting the needs for many businesses.
A survey of 388 businesses within the UK say that they spend at least 10% of their marketing budget on social media sites however it doesn't seem to be creating the effect and response they were hoping for. It is said that in the next 12 months the figure is expected to increase to 12.9% as social media prices are set to increase
It is said that the figure of businesses that are not meeting the expectations through Social Media are struggling because of setting their expectations too high and aiming at the wrong audience type. More consumer focused brands are doing a better job via the social networking platforms, therefore maybe more investigation and effort needs to go in the businesses that are not getting the engagement expected via social media.
Marketing week reported that:
The impact of social media also remains difficult to prove. Some 43.3% of those questioned said they “haven’t been able to show impact yet”. Some 38.2% claim to have a “good qualitative sense of the impact, but not a quantitative impact” while just 18.4% have proved the impact quantitatively.
So maybe they just haven't got the hang of social media yet, you need a good sense of who you want to attract on the different platforms in order to create engagement and gain followers/likes. Social Media consists of so many platforms, you may not have the same audience on Facebook as you do on Twitter.
Knowing your demographic is what will help make your marketing budget worth spending on Social Media.