Debate in the business marketing and advertising world has continued over the actual utility of social media to companies. Does it really create consumer engagement and produce a significant return on investment, or are companies just sending out content that no one reads?
In an attempt to answer this question, Social Media Examiner recently released the 2011 Social Media Marketing Industry Report, which found that professional marketers find the medium to be extremely useful if employed properly.
According to the study, 90 percent of marketers said that the channel was important to achieving business success. However, nearly two-thirds (63 percent) of respondents who have been in the social media world for more then 3 years said they spend more than 10 hours per week on it.
Interpreting these results, the website Business 2 Community suggests that they could mean that social media is an advertising channel that takes time to mature and show results.
It further suggests spreading time and resources around so that while companies are waiting for their social media efforts to begin showing returns they aren't neglecting other fronts.