The rise of digital media continues to make significant inroads into the mainstream media pie
Palo Alto, Calif. (PRWEB) October 17, 2007
New research indicates that spending on social media and conversational marketing will outpace that of traditional marketing by 2012, according to a study conducted by TWI Surveys, Inc. on behalf of the Society for New Communications Research and thought leader, Joseph Jaffe. This and many other significant findings are featured in Joseph Jaffe's new book, Join the Conversation, which became available today, published by John Wiley & Sons.
In Join the Conversation, Jaffe, a Senior Fellow of the SNCR, discusses the changing role of the consumer and how marketers must adapt by joining the rich, deep and meaningful conversations already in progress. This book reveals what marketers must do to become a part of the dialogue and how to leverage conversations in ways that benefit businesses, brands and lives.
In order to research his topic, Jaffe engaged the Society for New Communications Research think tank to conduct a study to assess senior public relations and marketing communications professionals' awareness and knowledge of social media and conversational marketing and their priorities for including it in their strategies and initiatives. The study was conducted via an online survey, designed by Joseph Jaffe and TWI Surveys, Inc. in conjunction with the Research Fellows of the SNCR.
The findings indicate that while social media adoption is still very much in its infancy, communications professionals foresee significant growth in adoption and spending over the next five years, and predict that conversational marketing will outpace traditional marketing by 2012. Of the 260 respondents:
- 70% are currently spending 2.5% or less of their communications budgets on conversational marketing
- Two-thirds plan to increase their investment in conversation within the next twelve months
- 57% project that in five years they will spending more on conversational marketing than traditional marketing
- 23.8% believe that spending on conversational marketing will be the same as traditional marketing in five years
- In total, 81% of all respondents project that by 2012 they will spend at least as much on conversational marketing as traditional marketing
"The rise of digital media continues to make significant inroads into the mainstream media pie," said Joseph Jaffe. "Conversational marketing investment will make up the third pillar of the new marketing model."
The journey ahead will not be without challenges, most notably in the areas of talent and capabilities, change management, research and metrics and organizational dynamics. Respondents noted that the primary obstacles currently preventing them from investing more in conversational marketing include:
- "Manpower restraints" - 51.1%
- "Fear of loss of control" - 46.9%
- "Inadequate metrics" - 45.4%
- "Culture of their organizations" - 43.5%
- "Difficulty with internal sell-through" - 35.8%
"The results of this research indicate that the industry is currently in a state of cautious experimentation with regard to social media and conversational marketing," commented Jen McClure, executive director of the Society for New Communications Research. "But most organizations seem to be preparing themselves for a significant shift in strategies and resource allocation."
"This all suggests that over the next few years we will see not only massive budget reallocations, but also tremendous strategic and cultural realignments and organizational shifts," added Jaffe. "To keep brands fresh, relevant and plugged into the conversation, marketers will need to be proactive in terms of embracing and investing in ongoing, well-structured experimentation."
View the social media press release on this announcement and watch a video of Joseph Jaffe discussing this research.
About Joseph Jaffe and Join the Conversation:
One of the most sought-after consultants, speakers and thought leaders on new marketing, Joseph Jaffe is president and chief interuptor of crayon. In May 2005, Jaffe's first book, Life After the 30-Second Spot, was published by Wiley. His second book is titled Join the Conversation: How to Engage Marketing-Weary Consumers with the Power of Community, Dialogue and Partnership.
Pricing and Availability:
Join the Conversation is now available via Amazon and will be available in stores beginning October 24, 2007. List price: 27.90 USD; 320 Pages; ISBN-10: 0-470-13732-0; ISBN-13: 978-0-470-13732-1; published by John Wiley & Sons. Those wishing to receive a review copy of Join the Conversation should contact Meryl Moss at firstname.lastname@example.org
About TWI Surveys, Inc.:
TWI Surveys, Inc. is a full-service organizational research and strategy development company that specializes in employee, association member, community and customer research. Since its founding in 1998, TWI Surveys, Inc. has conducted research and developed strategies for organizations and corporations in a variety of industries including technology, energy, finance, transportation, health and not-for-profit. For more information, visit http://www.twisurveys.com/
About the Society for New Communications Research:
The Society for New Communications Research is a global, nonprofit 501(c)(3) think tank dedicated to the advanced study of new communications tools, technologies and emerging modes of communication, and their effect on traditional media, professional communications, business, culture and society. For more information about the Society for New Communications Research, visit http://www.sncr.org or call +1 (650) 331-0083.