Social Media Perceptions and Budgets
SUMMARY: Social media is gaining respect at a critical time – when budgets are being formulated. And this attitude adjustment is having a major effect on marketing spending. MarketingSherpa January 5, 2010
MarketingSherpa asked this question:
Which statement best describes how social media marketing is perceived within your organization at budget time?
Answers
7% Social media produces measurable ROI – increase budgets liberally
17% Social media is basically free – let’s keep it that way
27% Social media value is unknown – why invest more?
49% Social media is a promising tactic and will eventually produce ROI. Let’s increase budget conservatively.
Our clients agree with the majority and feel that social media is a must-make investment. After designing a plan that integrates social media into their business channels, they select options based on time, responsibilities, investments and strategy routes mapped out to meet their goals.
What’s your answer?
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January 12, 2010
I am already seeing positive results from social media activities… and I’m just getting started! An important point evident from these findings is that while social media may be low cost in terms of hard dollars, it is not “free.” Social media requires an investment of time, effort, and involvement which many people do not realize. But for those that do understand, this is a tremendous new marketing horizon.