Hootsuite research: Social media to grow in importance for businesses, execs struggle to understand trends

More than 92% of global businesses use social media to build brand awareness.

Majority of the global business say it is important to have a social media presence in order to stay competitive. However, according to Social media management platform Hootsuite’s Social Media Barometer Report, more than 50% of executives struggle to understand and interpret social data.

More than 92% of global businesses use social media to build brand awareness.

The global survey examines the importance and use of social media within small, medium and enterprise organisations across industries. It collects data from more than 9,000 responses across 19 countries.

Social platforms are expected to continue to grow in importance for businesses and customers Social platforms are expected to continue to grow in importance for businesses and customers as they are increasingly used as a marketing tool.

“Our social media barometer report confirms what we’ve been hearing from customers large and small –social media has become a critical channel for delivering a consistent customer experience across a business,” said Hootsuite CMO Penny Wilson.

APAC research findings include: 

• 90% agree that social media is important to staying competitive
• 74% of respondents agree that social media will increasingly contribute to their company’s bottom line, with 62% of organisations noting social has moved outside the marketing team
• 92% of organisations are using social to build brand awareness
• 78% to manage their brand reputation
• 78% for building and managing an engaged community
• 66% to increase lead conversions and sales
• 56% to gain market and customer insights
• 49% for delivering customer service
• 33% to attract job applicants
• 25% to identify crisis and manage communications
• 54% of executives struggle to understand and interpret social data, and 52% struggle to stay on top of key social media trends

While historically, the United States has led the charge in social media adoption, it has become apparent that regions like Asia Pacific are quickly gaining ground.

The research comes ahead of Hootsuite’s Future of Social event, which the company will be hosting in Toronto, San Francisco, New York, Mexico City, London, Sydney, and Singapore in October and November 2018. The events will be live streamed and then available for replay in early 2019.

 

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