"Social media will save the economy, unite the people, and shine peace and prosperity across the land!" ~ Random Social Media Marketer, 2010
Fads come and go. In the business world, most have tried some new widget, gadget, web scheme, or marketing technique in recent years that simply did not produce a return on investment as hoped. Does social media fall into that category?
To many retailers, particularly local ones, the answer is "Yes!" They have tried or are currently trying to leverage Facebook, Twitter, YouTube, and other social media sites to promote their business and bring the promise of gold at the end of the Web 2.0 rainbow. With all of the hype, only 29% of those participating in a study by Shop.org said that social marketing strategies have helped them grow their business.
Are they simply doing it wrong is was the cake really a lie?
Click to enlarge.
This graphic by Milo breaks down the dissatisfaction that many retailers are feeling. Despite all of the skepticism, it appears that even more money is going to be spent on social media marketing strategies. Will the results improve?