I often joke with clients and audiences at conferences that social media officially failed on February 7, 2009. It is a completely arbitrary date. My point is, around that time it became clear that the promise of social media would go unrealized. That promise being that social media would be premised on conversation.
Instead what happened is brands and their agencies feared lack of control over dialogue. Ceding that control to customers was a scary idea. So they reacted by using social media as just another broadcast tool. They fell back on their comfort zone as in television, print and radio. Years later this persists.
This is not to say brands are shying away from social media. In fact, Forrester predicts $16 billion in spend in social media by US marketers alone in 2016. Lithium, the owner of Klout, that tracks social media influence, commissioned independent research firm ComBlu to take a look at social media. According to their site, “Combining hard numbers with human analysis, the State of Social looks at eight industries and 85 Fortune 1000 companies to determine how strategic and effective brands are across their social ecosystems.”
Before we get to the insights it is important to state that though I am on Klout, I am not sure of its ultimate value. An aggregate score based on my social media activity has not caused me to alter anything when it comes to social media. And it is clear this report has an agenda and that is to further advance the idea that influencer marketing is valid and works. Social media was always intended to be an egalitarian grassroots tool. Obviously some will attract more followers than others but that should be based on their value and relevance rather than by a campaign using brand dollars.