Many marketers have begun using social media as a means to connect to customers and prospects, but new research indicates that not everyone is extremely confident in the return-on-investment (ROI) of this channel.
Hootsuite recently published its “Social Media Trends 2023” report, and statistics suggested that the majority of marketers (40%) are “confident” that social media marketing delivers a positive ROI when it comes to marketing and engaging with their audience. That being said, only 37% are “extremely confident,” and 20% are just “somewhat confident.” About 4% stated that they are “not at all confident.”
“Our survey found that, when it comes to social media, seniority has a major impact on how individuals perceive and demonstrate the value of social,” wrote the authors behind the report.
ROI Remains a Top Concern for Executive-Level Marketers
Past research suggests that marketers generally feel pressured to demonstrate the ROI of their most-used channels, but it also indicates that CMOs might be impacted the most by this stress.
Brand Keys released the results of its “Marketing on My Mind” survey, and data suggested that ROI is keeping most CMOs (99%) up at night, topping their list of problem areas. Other stressors cited by survey respondents included the development of predictive analytics (90%), optimizing and owning the customer experience (86%), and aligning the brand with customer expectations (86%).
“In the world of marketing, cures for nightmares are a bit more complex than a warm glass of milk,” said Robert Passikoff, founder and president of Brand Keys. “But the right tools, the right insights, with the right people, executed in the right way can virtually guarantee an easier night’s sleep for brand managers and CMOs.”