From a list of 29 key success factors that were key to getting benefits from social media, we asked respondents to rate each in terms of its importance to being successful with social media, using a scale of 1-5. Across all 655 surveys, these factors fell within a narrow band – between 3.3 and 3.9. In other words, all were deemed to be of at least moderate importance. However, three ranked higher than all the others:
Adhering to privacy regulations on consumer data (and protecting it)
A company culture that strongly values consumer opinions about a company’s products, services and practices
Responding rapidly and clearly through social media to consumers with questions or problems about a company’s products, services or practices.
Two issues that finished at the bottom of the list were not deemed to be nearly as important to success: balancing a company’s global and local social media activities, and maintaining archives of social media activity.
How did the rankings vary by regions? Not greatly, although there were a few differences in what issues ranked in the top five (see Exhibit II-44). Privacy issues, corporate cultures that welcomed consumer feedback (no matter how bad), and acting promptly on social media comments were rated important to success in all four regions. (See Exhibit II-45)
Exhibit II-44: Key Success Factors of Social Media
Exhibit II-45: Top Five Success Factors of Social Media (by Region)
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Overview – Findings by industries