Social Media in 2012: Many Companies Are Still Not On Board with Social Media

by Jordan Richardson on December 10, 2012

We’ve already been talking about the role of social media in 2012 and beyond, exploring the first-ever digital presidential election and the impact social networking can have on individuals and even the faithful followers of the Catholic Church.

But what about the business world? How are today’s corporations coping with social media?

Some companies have been on board, using social media to land the sort of customer that has been termed Buyer 2.0 in business sectors. Buyer 2.0 is “web savvy, informed and probably knows more about you than you know about them.” Landing Buyer 2.0 requires a more complex approach than it did in the past, which means that social networking plays a vital role.

As has been frequently pointed out by industry insiders, much of today’s business is done online or over the phone without any face-to-face contact. That makes the role of social media in the corporate structure something that cannot be ignored.

A white paper from Ragan Communications and NASDAQ OMX Corporate Solutions reveals how some are doing, revealing that 65 percent of organizations “pile social media on top of other duties” and only 27 percent have hired someone to focus “exclusively” on the task.

In talking to over 2,700 social media professionals, the white paper discovers that companies kept their social media budgets “flat” in 2012 – and have no plans to increase spending in the area for 2013. In other words, as the world moves further into the social media sector many of today’s companies remain uninterested in dedicating more fiscal resources to it.

Other findings of the report reveal that only 31 percent of respondents were “satisfied” or “very satisfied” with social media efforts thus far, leaving a lot of room for improvement and growth.

But without more spending in the area and a more dedicated pool of resources, it’s hard to imagine those results changing in the coming year.

How will this lack of interest serve to land Buyer 2.0? In short, it won’t. Businesses without a complex and fluid social media strategy, including dedication to Facebook and Twitter sites, will flounder when it comes to landing new and savvy customers. Business that refuse to evolve and choose to remain in the technological dark ages will stagnate. The results may not be felt immediately, but they will be felt over the long-term.

With the right planning and the right allocation of resources to social media and technological avenues, a company has the opportunity to land Buyer 2.0 and enjoy some success. Using social networking to target and connect with customers is a great way to start the sales cycle, but without a strategy there’s no getting out of the gate.

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