Dinesh Mishra, Partner and Customer Leader, EY and his team launched the second edition of their flagship thought leadership series “EY Social Media Marketing India Trends Study” the previous week. Continuing from the success of the first edition of the report (released in 2013), this edition continues to track how Indian marketers and organizations are using social media platforms and how social media initiatives are evolving.
It represents the point of view of brands that have initiated their digital journey and what have invested in terms of money, people and processes. The findings are augmented with EY’s perspectives and secondary research in order to provide depth and context to this study.
India’s top social and digital savvy brands were contacted from the third quarter of 2014 till January 2015. The survey findings are based on insights from 21 respondents responsible for managing digital outreaches for their respective organizations or brands. The survey also covers the perspectives of various brand managers, industry experts and bloggers on various topics around their specialty areas.
Key findings include:
Social Media Platforms – current and emerging – What has changed since 2013?
- Several brands introduced new platforms in 2014 — Google+ and LinkedIn being the most common (40% and 30% of survey respondents, respectively). 25% of brands surveyed also launched their Twitter feeds, while 20% of respondents reference blogs and slideshare as new platforms to showcase their thought leadership and that stand-alone mobile apps for improved engagement.
- The top three objectives to be present on social media for the brands we surveyed were Building Brand Awareness/Highlight Brand News, Building a Community and Customer Engagement.
- Top three challenges stated were not being able to successfully measure effectiveness of social media engagements, sustaining or increasing engagement rates and creating/curating content.
- Over half of survey respondents launched their brands on a new platform, conducted integrated 360 campaigns and defined new success metrics. One third of the brands surveyed set up a new in-house social media team, while 29% of respondents created social media guidelines for employees and introduced social media monitoring tools for improved analysis and data.
2. How do companies evaluate, strategize, deploy and invest in social media?
- Around 90% of organisations are willing to spend up to 15% of their annual marketing budget exclusively on social media
- Almost 80% of brands surveyed that deployed integrated 360 campaigns integrated 2-5 social platforms.
- A majority of brands surveyed rely on an agency for their social media requirements, and a little less than half of brands surveyed typically take up to three weeks to design and deploy a social media campaign
- Brands surveyed conducted social media research to get customer feedback (over 40%) and to understand customer behaviour (35%)
How do social media-savvy brands measure success?
Engagement, Social Reach and Visitor Growth Rate are the key social media metrics tracked by social media savvy brands.
- Close to 80% of social media-savvy organisations attribute conversions (through campaigns/referrals etc.) to social media efforts.
- 63% of organisations confirmed to using a social media listening tool to track their brand sentiment, though a large percentage of these do not use any paid tools to measure brand sentiment.
- Brands admitted that the use of social listening tools provided a better understanding of how their brand is perceived in the social media universe, how to manage and resolve customer queries and requests more effectively and to gain better customer/competitor insights, which in turn allowed them to provide better a customer experience and generate leads.
The next big thing
- Brands surveyed stated they are looking to introduce Social CRM and Social Commerce as priority items on their Social Media agenda, followed by customised ads/campaigns and gamification.
How this study helps:
The study attempts to set a unique benchmark in the industry to help brand managers and digital marketers understand, demystify, leverage and navigate the social media space in a more informed manner. The need of the hour for social media savvy organisations is to analyse their maturity levels and explore disruptive opportunities for growth in the digital arena.
You can also share the Social Media report with your clients by downloading it here.