Do you agree with corporate Australia’s assessment of social media?

The recent ‘State of Play: Social Media in Corporate Australia report 2011/12’ provides valuable insights and intelligence into usage, attitude and application of social media and networking platforms by Australian businesses.

The respondents surveyed were from privately held and publicly listed international and Australian organizations, with 46.5% employed by organizations with more than 50 employees. Following a SWOT analysis, the key findings associated with social media were:

Biggest frustration:

  • Determining a meaningful and measurable return on investment (ROI) was nominated as the key barrier to the successful development, implementation and execution of social media initiatives
  • Lack of support and understanding by senior executives and management was also ranked as a leading influencer within organizations in preventing the further take-up and expansion of social media initiatives

Biggest plus:

  • The most commonly cited positive result from social media engagement was improved relationships with customers and the online community
  • Increased brand recognition and improved community engagement were nominated as the most commonly used metrics for measuring ROI on organisation’s social media initiatives

Biggest hurdle:

  • The key stumbling block to successful social media initiatives was a lack of awareness of how to develop, implement and execute social media programs
  • The areas where organizations require the most assistance in social media are strategy, processes and policy

Biggest fear:

  • Negative feedback and social media crises were rated as the greatest threats to organizations using social media

 

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