Senior marketers across the world agree that using social media for corporate, brand and product marketing is vital for marketing success, according to research sponsored by TNS media intelligence/Cymfony.

Some 49 per cent of those interviewed said that social websites such as Facebook and MySpace should be monitored at executive level and allocated significant resources.

Asked about the uses of social media, 37 per cent said it is a strategic tool to gain consumer insights, 21 per cent said it builds brand awareness, while 18 per cent said it increases customer loyalty.

Some 30 per cent of marketers said social media should be grasped as a matter of urgency, while the majority – 95 per cent – believe it will grow in significance over the next five years.

“Surprisingly, our study shows that many business executives are still new to social media, which points to a large gap between attitudes and action that must be addressed,” said Jim Nail, chief strategy and marketing officer of TNS Media Intelligence/Cymfony.

Related Topics: General Marketing