A high proportion of companies have explored the rising impact of social media but failed to maximise their returns, according to a report published by Big Mouth Media and Econsultancy.
Research compiled from around 1,100 companies, focused on analysing how social media and online PR are perceived as effective marketing tools.
Almost Two-thirds (64%) of companies say that they have experimented with social media without pursuing interest with active involvement.
Another notable fact revealed is that micro-¬blogging (i.e. Twitter) is now the most widely adopted social media tactic, used by 78% of responding companies and 74% of agency clients.
Though Twitter is the most desired approach, only 31% of respondents thought that there were tremendous prospects available for them.
The biggest barrier delaying social media engagement for some companies is their lack of resources. Not only does social media require a budget, but also the knowledge and attention that the campaign demands.
Nearly a third of participants (31%) admitted they are not spending any of their budget on social media, either choosing to tackle the notion in-house or ignoring the idea completely.
An overwhelming 86% of companies expect to increase investment in social media for 2010, with none anticipating a decline in spend.
A vast majority of 90% of company respondents say that social media is taking up more time internally than a year ago.
Just under half of companies (47%) say the have a blog incorporated into their website, with the same number stating that they have used direct engagement to minimise the impact of negative comments from bloggers and online publishers.
As social media prepares to launch a successful 2010 for many more brands, make sure you have the best strategy integrated to ensure maximum ROI.