According to a recent report, businesses that invest in marketing apparently cannot measure their growth results on any scale.

Econsultancy states, by a total poll of 47% from the entire staff of over 800 employees, that includes professionals from PR as well as marketers. An estimated 76%w claim there was no ROI amount for their entire investment on social media channels.
Below is a mention of a few statistics accumulated –
•    83% used Twitter for social media strategies.

•    83% used Facebook for social media strategies.

•    83% businesses plan to increase expenditure on social media websites.

•    28% companies do not spend any amount on social media.

•    33% have an expenditure on social media activities which is less than 5£ per year.

•    29% businesses do not have a reliable staff to execute these initiatives.

•    49% companies state resource shortage as a reason for average performance.

•    30% claim insufficient budgets to reach their company goals.

The Research Director of Econsultancy, Linus Gregoriadis recently stated, “2010 has been a year in which companies have tried to become more focused in their social media marketing activity. Much of their activity is concentrated on the use of Twitter and Facebook, with the vast majority of companies (83% and 80% of respondents respectively) using these sites as part of their social media strategy. Companies are harnessing these sites for a range of business functions including marketing, sales, and customer service and product development.”

Is the hype for social media justified with such results for business firms and brands?