Econsultancy’s September 2012 report stated that 73% of companies with annual revenues of less than $150M agree that social media is an integral part of their marketing mix. Similarly, 2/3 of companies with revenues of more than $150M agree that social media is an integral part of the marketing mix. Social media is an important extension of marketing, with 3/4 of companies surveyed declaring that social media strategy is an integral part to their overall business strategy.
Companies claiming that social media is valuable tend to strongly agree. In the Forrester’s March 2012 survey, 59% of senior marketers agreed (39%) or strongly agreed (20%) that companies who do not fully embrace social media will not survive. Of those surveyed, 71% of senior marketers agreed that companies can gain a competitive advantage through social media. Also, 60% of participants agreed that social media enables businesses to be more successful. Based on this report, social media continues to be a vital part in the success of many companies in the long-term.