While social media marketing may not currently produce the results that CMO’s are looking for, the majority are confident that it will produce ROI at some point in the future. Marketing Sherpa asked more than 750 CMOs “Which statement best describes how you perceive social marketing’s ability to produce a return on investment (ROI) at budget time?”
- 62% believe that social marketing is a promising tactic that will ‘eventually produce ROI’ and are willing to invest in it ‘conservatively’
- 20% say social marketing ROI is already a reality, they will continue to invest in this channel
- only 3% say it is “unlikely to produce ROI”
While Cynthia Boris of Marketing Pilgrim expects survey respondents to “agree that social media ROI is like using a pedometer to find out how far I walked in my dreams,” the data shows significant optimism regarding the power of social marketing.