Marketers’ struggles measuring social’s ROI are well-documented. But here’s another sobering view from the top: according to the latest CMO Survey [PDF] released by Duke University’s Fuqua School of Business, just 15% of CMOs in the US can confidently say they have quantitatively proven the impact of social media on their business. By contrast, 49% haven’t been able to show the impact yet, and the remaining 36% have a good qualitative – but not quantitative – sense of the impact.
Respondents were asked to choose which answer best described how they show the impact of social media on their business.
Given current spending levels on social media outlined in the study, the results indicate that CMOs are allocating 6.6% of their overall marketing budgets to a channel which only 15% can confidently measure on a quantitative basis. Read the rest at MarketingCharts.