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Benefits and Challenges of Social Media

Benefits and Challenges of Social Media

Social Media is a key initiative for many businesses’ marketing efforts across the country, but some companies still struggle with leveraging these consumer-facing tools. A recent benchmarking study by Hootsuite identifies the benefits businesses are reaping from social media, but also the constant struggles they face. It discovered that 88 percent of companies agree a social media presence is important to staying competitive, however “60 percent of organizations are challenged by the effort to turn social into something actionable.” Therefore, companies realize social media’s importance, yet they do not use the data to its full capacity. Developing a social media strategy and then aligning that strategy across all departments is also a challenge marketers face.

Taking the time to develop a strong and implementable plan is important because many marketers see more value in social media than just customer interaction. Survey respondents identified “engaging with influencers, learning about company’s reputation, and enhancing relationships with existing customers” as benefits of social media.

To find out other benefits and challenges marketers face when implementing social media, click here.

About Sara Logel

As NRHA’s market research analyst, Sara conducts organic research and stays abreast of industry trends to help hardware retailers better run their business. Sara also contributes to editorial content in Hardware Retailing magazine. Sara received her B.S. in Marketing and Spanish from Butler University and, after graduation, began her career with NRHA. Sara enjoys traveling, being outdoors and exploring the city of Indianapolis.

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