Earlier this week, Murdok WetPaint and the ENGAGEMENTdb site, which was announced along with the study. On the site, businesses can match their own social media efforts up alongside those of successful brands.
Murdok: What do you think is the most important way for a company to utilize social media to have the biggest impact on revenues?
murdok: On average, how are the companies (outside the top 100) ranking?
BE: We're seeing companies rank all along the spectrum from Social Media Mavens to Social Media Wallflowers. Since the results are private, we think the self assessment is a pretty good indicator of what companies are really doing in the social media space.
murdok: How much progress needs to be made?
BE: The social media space is evolving so quickly that it’s pretty easy to say we all have a long way to go. The key thing to remember is that the data we’ve been able to gather suggests that there is a very strong correlation between high social media engagement and better financial results. Companies that experiment now and learn the ropes are going to be so much better off than the ones waiting for just the right moment to get involved with their customers.
Wrapping Up
I'd like to thank Mr. Elowitz for answering my questions, and sharing his thoughts on social media practices for businesses. How do think your own social media efforts stack up to those of the big brands? How about to other smaller brands? Share your thoughts.
The Most Important Social Media Strategy for Making Money
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