88% of Businesses Think Social Media is Important to Stay Competitive [STUDY]

Almost nine in 10 (88 percent) of businesses agree that their organisation’s social media presence is important to stay competitive, but three in five cite taking data gathered from social media and turning it into something actionable remains a challenge, reveals a new study.

In their 2014 Social Business Benchmark report Hootsuite polled 750 respondents from enterprise firms on their outlooks, behaviors and challenges with social media, and found that only 41 percent believed that their company fully capitalised on the data captured from platforms such as Facebook, Twitter and Instagram.

Two-thirds (64 percent) said that aligning their social media strategy across various departments was difficult, and 62 percent felt that simply designing a social media strategy was difficult.

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