The majority of marketing executives are still in the early, experimental phases of using and measuring social media and 80% say that they have not yet fully integrated the core elements of Web 2.0 into their marketing efforts. Among the social media tools currently being used, social networking sites - such as MySpace and Facebook, blogs and video-sharing sites are cited most often, according to a survey from the Marketing Executives Networking Group (MENG) 75% of respondents define social media as media that is based on conversations among users.

Among executive-level marketing professionals:

* 67% of respondents consider themselves beginners at using social media for marketing purposes.

* More than 87% of respondents are not regularly measuring the ROI of their social media marketing efforts.

* Though marketers are paying attention to social media and see a future in it, they still consider the social media world akin to the “Wild West.”

Despite a lack of expertise, more than 67% report they will increase their social media advertising budget in 2009 and see many benefits to adopting social media. These include the ability to engage and communicate with customers and the relatively low cost vs. traditional media. While many marketers are worried they’re missing the boat, in reality even the Fortune 500 companies don’t feel they’ve mastered social media just yet. An important thing to remember is the initial foray into social media should always begin with listening to your consumers. Ask them how they would like to engage with your brand, find the communities where they are already active, and immerse yourself in the social networking environment.