But they struggle in communicating its value to the company.
This article cites a Sprout Social survey which says 90% of the marketers agree that brand revenue is affected by social media marketing spends. But, only 63% said that they frequently discuss ROI or social media metrics with company executives.
According to the survey, 50% of consumers follow brands’ social media accounts for updates about new products and services, while 48% follow them for entertainment. Consumers tend to engage more with social media posts that are either entertaining or inspiring.
34% of marketers consider revenue attribution as engagement, while 32% think engagement leads consumers to take action. This piece also warns that consumers are likely to unfollow brands if they post excessive promotional, social or political content on social networks.
[5 minute read]