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Provides Recommendations For C-suite; Identifies $5bn Gap in Social Ad Spending
(PRWEB) July 08, 2014
Sprinklr, the leading independent provider of enterprise social relationship infrastructure, today announced the publication of an extensive study aimed at helping C-level executives adapt to the realities of the empowered and connected customer.
The Social@Scale Journal compiles publicly available data from over 120 large companies such as Samsung, Macys, Jeep, BMW, Sony, and H&M in the automotive, consumer electronics, and retail verticals.
The inaugural edition is now available for download at http://spr.ly/social-benchmark.
The Journal benchmarks the performance of leading brands within each vertical, provides multiple new findings about the current state of enterprise social, and offers actionable insights for C-level executives, including:
Brands are under-investing in paid social media by 50% - a $5 billion opportunity for marketers, technologists, and platforms alike
1 in 5 brands say they rarely, if ever, respond to customer complaints made via social, yet consumers expect a response from brands within 1 hour
Due to negative social comments, 11% of brands have lost revenue, 15% have lost customers, and 26% have tarnished reputations
38% of consumers will feel more negative about a brand that fails to meet their expectations for timely social response; 6 in 10 will take unpleasant actions to express their dissatisfaction
85% of B2B buyers use social media during the purchase process
The study highlights that a cornerstone amongst many of the leaders is a commitment to the full integration of paid, owned, and earned media.
The Social@Scale Journal also provides senior executive commentary from marketing leaders, including Linda Descano, Managing Director and Head of Content and Social at Citi, Karen Walker, SVP of Marketing at Cisco, and Michael Sprague, EVP of Sales and Marketing at KIA Motors America.
The connected and empowered consumer is fundamentally challenging how large enterprises do business, said Ragy Thomas, CEO of Sprinklr. With the Social@Scale Journal, we hope to provide C-level executives with the data and actionable insights they need to understand the changing conditions, and benchmark how they measure up against their competition."
A summary of findings as well as interactive infographics on social performance for more than 120 companies are available at http://spr.ly/social-benchmark-blog.
To download the whole Social@Scale Journal or obtain additional information about the data behind the study, please visit http://spr.ly/social-benchmark.
Sprinklr's infrastructure software is how brands manage social experiences across every touchpoint. Unlike tools and platforms, Sprinklr is the only true integrated social relationship infrastructure. Called "The most powerful technology in the market" by Forrester Research, Sprinklr accelerates the social maturity of a brand, from just 'doing social' to being social, at scale. Sprinklr's cloud software and strategic and analytic services enable the enterprise to innovate faster, grow revenue, manage risk and reduce operational costs. Founded in 2009, Sprinklr is headquartered in New York City and serves more than 450 brands worldwide including Microsoft, Intel, Virgin America, IHG, and 4 of the top 5 US banks. Visit http://www.sprinklr.com @sprinklr #SocialAtScale.
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