ibmfailGallup says 62% of the more than 18,000 U.S. consumers it polled said social media had no influence on their buying decisions. Another 30% said it had some influence. U.S. companies spent $5.1 billion on social-media advertising in 2013.  So if social media fails in conversion, what’s the business justification?   

myth social mediaWell, it’s about time! According to the Wall Street Journal, “fans and follower counts are over, social media is not the powerful and persuasive marketing force many companies hoped they would be,” concludes Gallup Inc., which on Monday is releasing a report that examines the subject.  Gallup says 62% of the more than 18,000 U.S. consumers it polled said social media had no influence on their buying decisions. Another 30% said it had some influence. U.S. companies spent $5.1 billion on social-media advertising in 2013, but Gallup says “consumers are highly adept at tuning out brand-related Facebook and Twitter content.” (Gallup’s survey was conducted via the Web and mail from December 2012 to January 2013. The survey has a margin of error of plus or minus 1 percentage point.)