McKinsey believe there are two interrelated reasons why social media remains an enigma wrapped in a riddle for many executives, particularly non-marketers.
“The first is its seemingly nebulous nature. It’s no secret that consumers increasingly go online to discuss products and brands, seek advice, and offer guidance. Yet it’s often difficult to see where and how to influence these conversations, which take place across an ever-growing variety of platforms, among diverse and dispersed communities, and may occur either with lightning speed or over the course of months.
“Second, there’s no single measure of social media’s financial impact, and many companies find that it’s difficult to justify devoting significant resources—financial or human—to an activity whose precise effect remains unclear.”