Tuesday, 17 March 2009

Growth in social media spend

A study by Forrester Research found that while half of marketers said they would boost budgets, social media spend remains very small in proportion to other media -- 75% of respondents who knew their budgets said they were planning to spend $100,000 or less over the next 12 months.

Too Many Social NetworksImage by M. Keefe via Flickr

Areas that they highlighted for investment included social networks, blogs and user-generated content.

However, the majority of social media budgets are not predetermined -- 45% said they were generated on an "as needed" basis throughout the year; and 23% said that their funds were scraped together from wherever they could find them.
The research also highlighted that money being allocated to social media comes at the expense of other budgets -- the biggest proportion of respondents (35%) stated that social media spend came out of the corporate marketing coffers; while 24% of the sample said that it came from the advertising budget.


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