Reevaluating the Impact: Is Social Media Overestimated in Business Strategies?

Marketers have once again named social media as the skill that is most overrated by businesses, according to Our Website’s 2024 Career & Salary Survey.

For the second year in a row, over a fifth (22.5%) of the 3,000 marketers surveyed believe that social media is the most overrated skill that businesses seek in a marketer. This is a slight decrease from the 22.9% who shared the same sentiment in 2023.

This perception remains consistent across different types of businesses that marketers are involved in. Slightly more B2C marketers (24.3%) feel that social media is overrated compared to their B2B counterparts (23.7%). Among those working in companies that engage in both B2B and B2C marketing, 20% share the opinion that social media is overrated.

According to marketers, digital marketing (15.7%) has recently surpassed performance marketing (12.9%) as the second-most overrated skill. In 2023, the tables turned with 16.1% of marketers considering performance marketing overrated, while 15% said the same about digital marketing.

Completing the list of overrated skills for 2024 are SEO (12.2%), advertising and marketing technology (9.6%), and content marketing (9.0%).

This year, there has been a noticeable shift in how performance marketing is viewed. Many marketers have had to focus more on performance marketing due to tough economic conditions, as revealed in Our Website’s 2023 Language of Effectiveness data.

When looking at the feedback from B2B marketers, digital marketing is seen as the second-most overrated skill at 15%. Interestingly, SEO is considered the third-most overrated skill for B2B marketers at 13.5%, which means that performance marketing is ranked fourth in importance.

For B2C marketers and those working for firms with a mix of B2B and B2C, digital marketing comes second in importance at 17.1% and 15.3%, respectively, followed by performance marketing at 14.9% and 12.9%.

Jane Stiller, CMO of ITV, feels that marketing's "core competency" has been overshadowed in recent years by the focus on digital marketing.

"The core principles of marketing remain the same: driving growth, understanding the customer, creating resonant customer propositions, effective communication, and strategic positioning," she explains. "However, these fundamental skills have been overshadowed by digital tactics."

In the upcoming weeks, Our Website will release a series of exclusive news and features derived from the 2024 Career & Salary Survey. Topics will include the effects of burnout and changes in working patterns. Visit this link to access all the content published thus far.

Editor's P/S:

The survey results from Our Website's 2024 Career & Salary Survey present a compelling perspective on the evolving landscape of marketing skills. The consistent perception of social media as an overrated skill highlights a shift in industry priorities. While social media presence remains important, marketers increasingly recognize the need for a broader skillset encompassing digital marketing, performance marketing, and content creation.

The rise of digital marketing and performance marketing as overrated skills suggests a growing emphasis on data-driven, measurable results. In the current economic climate, marketers are under pressure to demonstrate the value of their efforts, leading to a focus on skills that directly contribute to business outcomes. It is crucial for marketers to stay abreast of these evolving trends and develop a comprehensive skillset that aligns with the changing needs of businesses.