Derrick
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- Joined
- Nov 22, 2010
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Social media is big unknown for many traditional advertisers and rightly so.
There’s no doubt that people are spending a lot of time online and a large chunk of that is on social media sites, but does it work for companies to interact with their customers on this level?
If the study from Wetpaint and Altimeter Group is to be believed then the short answer is a resounding ‘Yes!’
The new study released today from Wetpaint and the Altimeter Group confirms that deep engagement with consumers through social media channels correlates to better financial performance.
According to the ENGAGEMENTdb study, there are significant positive financial results for the companies who measured as having the greatest breadth and depth of social media engagement. These “Social Media Mavens” on average grew company revenues by 18 percent over the last 12 months, while the least engaged companies saw revenues sink 6 percent on average over the same time period.
The ENGAGEMENTdb study reviewed more than 10 discrete social media channels, including blogs, Facebook, Twitter, wikis, and discussion forums for each of the 100 most valuable brands as identified by the 2008 BusinessWeek/Interbrand Best Global Brands ranking. Activity in each channel was ranked for depth of interaction on measures that corresponded to that specific channel. Scores for overall brand engagement ranged from a high of 127 to a low of 1.
The top 10 ENGAGEMENTdb brands with their scores are:
1. Starbucks (127)
2. Dell (123)
3. eBay (115)
4. Google (105)
5. Microsoft (103)
6. Thomson Reuters (101)
7. Nike (100)
8. Amazon (88)
9. SAP (86)
10. Tie – Yahoo!/Intel (85)
If you want to find out how your company rates, take the test.
There’s no doubt that people are spending a lot of time online and a large chunk of that is on social media sites, but does it work for companies to interact with their customers on this level?
If the study from Wetpaint and Altimeter Group is to be believed then the short answer is a resounding ‘Yes!’
The new study released today from Wetpaint and the Altimeter Group confirms that deep engagement with consumers through social media channels correlates to better financial performance.
According to the ENGAGEMENTdb study, there are significant positive financial results for the companies who measured as having the greatest breadth and depth of social media engagement. These “Social Media Mavens” on average grew company revenues by 18 percent over the last 12 months, while the least engaged companies saw revenues sink 6 percent on average over the same time period.
The ENGAGEMENTdb study reviewed more than 10 discrete social media channels, including blogs, Facebook, Twitter, wikis, and discussion forums for each of the 100 most valuable brands as identified by the 2008 BusinessWeek/Interbrand Best Global Brands ranking. Activity in each channel was ranked for depth of interaction on measures that corresponded to that specific channel. Scores for overall brand engagement ranged from a high of 127 to a low of 1.
The top 10 ENGAGEMENTdb brands with their scores are:
1. Starbucks (127)
2. Dell (123)
3. eBay (115)
4. Google (105)
5. Microsoft (103)
6. Thomson Reuters (101)
7. Nike (100)
8. Amazon (88)
9. SAP (86)
10. Tie – Yahoo!/Intel (85)
If you want to find out how your company rates, take the test.