Results Show the Need to Take a More Strategic Approach to Web 2.0; June 10 Webcast Hosted by Vignette to Discuss Results In-Depth

Many large companies recognize the importance of social media tools but lack the vision on how to use them in conjunction with long-term initiatives and measure their effectiveness, according to a survey conducted by Vignette Corporation (NASDAQ: VIGN) in partnership with the Marketing Leadership Roundtable and the Corporate Executive Board. The results will be discussed in a June 10 Webcast presented by Vignette.

The survey collected almost 200 responses from companies with median revenue of $333 million. Fifty percent of the respondents work at companies that have 1,000 employees or more and 62 percent come from B2B organizations.

Overview

“Social media today is like the Web was in the 90s – everyone knows they need to use it but they aren’t sure how,” commented Gerardo Dada, senior director of product marketing for Vignette. “As a result, very few companies have a strategy in place, including guidelines, processes and metrics, to succeed long term. The interest and resources are there, but on a tactical level only.”

The Importance of Social Media

In a relatively short amount of time, social media has transformed how businesses operate and companies are eager to experiment. Fifty-five percent of those surveyed said that Web 2.0 priorities are more important than or as important as traditional priorities. However, only 14 percent have two or more years of experience with using social media and 40 percent of those surveyed have no social media process or strategy in place.

Companies are pumping up their budgets when it comes to social media. Seventy-one percent of those surveyed will increase social media investments in 2009 and the average increase in the investment is 40 percent.

Why the uptick in spending at a time when budgets are being cut? According to Dada, companies understand that the Web is the most important channel for customer engagement and that it can be used to increase revenue and save money. With these thoughts in mind, social media has exponential potential as an effective marketing tool with a real impact on the bottom line.

“Companies hear the buzz and they see what their competitors and peers are accomplishing,” said Dada. “More importantly, customers and prospects expect companies to adopt social media tools. The days of one-way communications are gone.