According to Mashable’s recent media usage trends, there is a definite increase in the numbers of consumers that are adding more and more forms of digital content to their media diet. As a necessary corollary then, so too we find growing marketing budgets – first in the US and now it seems in the UK.
A new study released by Aberdeen Group (published by eMarketer), suggests that
“63 percent of companies plan to increase their social media marketing budgets in 2009, despite the current weakness in the economy. Digging deeper into the numbers, 21 percent of those surveyed plan to increase social media spending by 25 percent or more, while a mere 3 percent plan to shrink their budgets (34 percent responded ‘no change’).”
We should include the caveat before we all get too excited, that eMarketer did end up reducing their estimates for overall ad spend on social media at the end of last year, they also state in their report that a combined 59 percent of companies found it difficult or “very difficult” to measure social media marketing.
It should also be noted that “social media” is now perceived by brands (and their marketing agencies) to be much more than just the likes of Facebook and MySpace, one only needs to look at the recent brave yet misguided venture by Mars / Skittles, into Twitter, Facebook and YouTube…There have been plenty of comments and blogspace taken up with that one…
It still amazes this writer when people ask whether “social media” actually works. My favourite case study begins, “Do you remember the 2008 Presidential Campaign…?”
Are social media budgets growing within your organisation? Please share your thoughts in the comments.