Today's eMarketer article, Executives Fail to Focus on Social Media Marketing Strategy, shows how far we still have to go in convincing the C-Suite about social media marketing's importance in the overall marketing mix and overall corporate strategy.

Here's the executive summary (no pun intended):

1. Executives Think a Social Business Strategy Is Important.  78% of executives thought a social business strategy was somewhat important or very important.

 

 

 

 

 

 

 

 

 

 

 

2. But, Social Business Strategy Is Neither a Top Priority Nor Even Necessary).  27% listed social business as a top strategic priority.  Nearly half (47%) say it's necessary but not a a strategic priority.  And, 19% say social business strategy was simply not necessary. 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This Surprises Me

Small Business Executives Say Social Media Is Not a Strategic Priority.  58% of C-Level respondents say social is neither a strategic priority AND 21% say it's not necessary.

Why Does This Surprise Me?  Social media and inbound marketing levels the marketing playing field for small businesses lacking the marketing budget to compete with larger competitors.  The small company response is similar to the large company response (i.e., 47% for not a strategic  priority and 18% for not necessary.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

This Is Not a Surprise

Metrics and Measurement Continue To Mystify.  Accountability and metrics along with social media strategy and tactics rank very low on the 2011 and 2012 executive priority list.

The Circular Feedback Loop Between Strategy and Measurement.  The social media strategy has to be linked to the overall corporate strategy (i.e., what is the objective: increase revenues, decrease costs, increase customer retention, lower customer acquisition costs).

Without those necessary links, accountability and metrics along with social media strategy and tactics will continue languishing as priorities.

 

 

 

 

 

 

 

 

 

 

 

 

Conclusion

Social Media Can Power Customer Acquisition.  According to Huspot's 2011 State of Inbound Marketing Report, social media marketing (especially a company blog) can address the top priorities of the C-Suite:

• Lead Generation.  57% of companies using blogs reported that they acquired customers from leads generated directly from their blog.
• Operational Profitability.  Blogs, social media, and organic search maintained the top slots as least expensive lead generation channels.
• B2B Firms Value LinkedIn and Blogging For Acquiring Customers.  61% of B2B firms say LinkedIn is their top acquisition channel.  55% of B2B firms say the company blog is the second leading acquisition channel.