The social space must be mined for insights. It is a rich data set; the largest that has ever existed. By leveraging social as a research tool companies can uncover opportunities they didn’t even realize existed.
According to MARC USA, marketers have done a poor job of making social media work because they have been too busy drinking the social media Kool-Aid. “The hype factory forced them to chase every new, bright, shiny object; from FourSquare to Gowalla, Groupon to Scavngr, Facebook to Genie,” says Adam Kmiec, SVP, Interactive Marketing Innovation, MARC USA.
For every success story there are thousands of failed social initiatives. While there is no way to guarantee a hit, Kmiec says there are ways to assure failure. With that in mind, here are his ten reasons why half of all social media initiatives fail:
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