$43.6B U.S. agency revenue
But professional marketers understand it's no longer about any one channel—it's about all of them used together like the different instruments in an orchestra, at different times and different levels for maximum overall effect.
What makes social media valuable? Although the alliteration in this blog's title is a fun play on words, most social media managers are not about generating volumes of idle chatter. They work hard developing highly focused and carefully expressed communications to achieve specific goals that fit within their company's broader and cohesive marketing canvas.
The conversation about social media's value, like any marketing channel's value, depends largely on the strategy and the practitioner. What is indisputable is that social media is a legitimate and key element of any integrated marketing strategy and, therefore, deserves a respected seat at the table.
Like any other marketing discipline, various indicators such as sales, customer engagement and, even internal culture, can be benchmarked and measured. Performance is quantified and calibrated by examining the data produced by campaigns, on and offline. And because it is a fluid and infinitely flexible medium, it can be adjusted and refined for optimal results.
Social media needs to play a role in a well-designed, integrated marketing communications effort. Every customer interaction either strengthens or weakens a brand. When so many of those interactions are taking place outside the realm and reach of traditional marketing, it would be the height of folly to belittle social media's ability to help manage brand value and refer to it as a lesser science.