In a recent study more and more businesses are increasing their spending on social media monitoring. Businesses are increasingly recognizing social media as a way to not only communicate directly with customers but to also see how customers are communicating with other customers.
In the survey only 19% of firms have no plans to increase monitoring. Almost 40% of businesses plan to increase spending significantly in the next year to two years. Most of the current monitoring and the planned monitoring is to monitor customer satisfaction. Some of the other motivations are to generate buzz, track advertising campaign successes and to measure brand experience.
This trend will supply the social media agency with a much larger pool of clients to reach out to. It also means that more and more people are recognizing the need and utility of the social media agency. This increased credibility can be leveraged into other projects and other partnerships. 97% of firms report there is value in social media, but many do not know how to go about extracting that value. That is the ultimate need for those with the skills to do so.