New BIA/Kelsey Report Examines Burgeoning Social Media Management Industry
CHANTILLY, Va., June 16, 2011 /PRNewswire/ — BIA/Kelsey, adviser to companies in the local media space, has released a new report to clients of its Social Local Media (SLM) practice. “The Social Media Management Evolution,” profiles 10 leading social media management companies, analyzes their business models and pricing structures, explores their business opportunities and potential reseller partners, and forecasts how the space will continue to evolve.
The demand for social media management services among small and medium-sized businesses is on the rise, as adoption of social marketing practices by SMBs continues to grow. Earlier this year, BIA/Kelsey released findings from Wave 14 of its Local Commerce Monitor study, which indicated local businesses are flocking to social networks. Forty percent already operate a Facebook page, and 48 percent utilize social networks for advertising/marketing purposes.
“For businesses of all sizes, social media can no longer just be a ‘box-check,’” said Jed Williams, analyst and program director of BIA/Kelsey’s SLM practice. “It represents a unique and instrumental marketing channel that must be invested in and cultivated for optimal return. An entire ecosystem has formed around social media management platforms that vie to control the core social functions of the business dashboard. This race will only heat up as social media adoption accelerates and both efficiency and ROI are demanded across the various networks.”
The report, co-authored by Williams and SLM Associate Program Director Andrew Shotland, segments the social management ecosystem into the following four categories and profiles leading companies within each:
- Full-service social management for large brands and agencies
- Social software services for national-local chains and franchises
- Social tools for SMBs
- Social marketing specialists – campaign and promotion builders.
“The Social Media Management Evolution” report is available to clients of BIA/Kelsey’s Social Local Media advisory service, which is dedicated to covering the growing and dynamic social media ecosystem and the best opportunities for driving revenues with social platforms. To learn more about the Social Local Media advisory service, visit http://www.biakelsey.com/Advisory-Services/Social-Local-Media, or contact Steve Passwaiter at (703) 802-2973 or firstname.lastname@example.org.
BIA/Kelsey advises companies in the local media space through consulting and valuation services, research, Continuous Advisory Services and conferences. Since 1983 BIA/Kelsey has been a resource to the media, mobile advertising, telecommunications, Yellow Pages and electronic directory markets, as well as to government agencies, law firms and investment companies looking to understand trends and revenue drivers. BIA/Kelsey’s annual conferences draw executives from across industries seeking expert guidance on how companies are finding innovative ways to grow. Additional information is available at http://www.biakelsey.com, on the company’s Local Media Watch blog, Twitter (http://twitter.com/BIAKelsey) and Facebook (http://www.facebook.com/biakelsey).