Investing in social is trendy. Marketing Sherpa’s Chart of the Week shows that, across the board, industries will be upping social marketing budgets by as much as 79% over 2009. Wow! But, how much were the budgets in 2009? That’s an x-factor that’s not given.
In our experience, we’re seeing clients shifting marketing funds away from advertising and print collateral to content, PR and social marketing. How did your company allocate its 2010 marketing budget?
This chart shows that social marketing will benefit from significant budget increases in the year ahead, regardless of what industry your organization is in. What this chart doesn’t show is where these increases will come from. The human factor will account for nearly 60% of social marketing expenditures next year including staff salaries for blogging, content development, social monitoring, etc. Another 20% of the budget will go outside the organization to agencies, consultancies and other social marketing service providers.
Where do you think the increased social marketing budget funding will come from?