On February 3, 2015, I had the pleasure of having leading marketing expert Jamie Turner on PowerViews LIVE to talk about “Why Social Media Doesn’t Work.” Right off the bat you may be thinking, “Social media doesn’t work? It’s everywhere!” This is true. Marketing organizations today are using social media for business purposes—more now than ever before. However, the numbers show that only a small percentage of these organizations can attribute revenue to social activity. What’s going on? Why? And what can we do to change the momentum and leverage social media to drive more sales and revenue?
Before I touch on some of the key points from the webinar, here’s a little more on our guest: Jamie is an author, international speaker, and CEO of the marketing agency 60 Second Communications. He holds more than 25 years of experience helping major global brands, some of which include: Samsung, The Coca-Cola Company, InterContinental Hotels Group, AT&T, Motorola, Cartoon Network, CNN, and more. As an expert on all things marketing and social media, Jamie is a regular guest on CNN and HLN. Most recently, he appeared on CNN and CNN International over the 2015 Super Bowl weekend to discuss the impact of social media and how the domestic violence PSAs would affect the NFL’s image.
Jamie knows his facts. During the webinar, he touches on some fascinating statistics:
- The majority of 18- to 34-year-olds are using Instagram, not Facebook.
- Kids aren’t watching anywhere near the amount of TV that used to be watched.
- Folks spend 1 out of every 7 online minutes on Facebook (demographics skewing older).
- 74% rely on social media to influence purchase decision.
- 97% search for local businesses online. (TIP: when developing SEO strategies, include your city in the key words.… Google will reward you.)
- 44% of Twitter accounts have never sent a tweet.
- 80% of Pinterest Postings are re-pins indicating fatigue on the platform.
- Most people consider Facebook advertising untrustworthy—as they do advertising in general.
- 77% of F500 companies use social media, but only 12% of those companies can tie social campaigns to revenue.
This leads us back to the topic at hand: With social media so prevalent, why is it that only a small number of companies can tie revenue to social spend? For one thing, according to Jamie, social is not a silver bullet, but a vital spoke on the wheel. You can no more depend on social (sometimes synonymous with inbound) to stand alone than you can any other media. But that's just the tip of the iceberg. To learn more, you'll have to check out the webinar for yourself.
Watch the informative PowerViews LIVE session featuring Jamie Turner and me here: