To remain successful, marketers MUST market in the social web. According to a May 2009 Anderson Analytics’ survey, 52% of social network users had become a fan or follower of a company or brand, while 46% had said something good about a brand or company on a social network. No matter the marketing goal, from customer service, branding, and lead generation to direct marketing and e-commerce, there is a place for social media in the marketing plan.
Although companies have begun to realize the importance of social media marketing in the near term, budgets have been slow to open up. While traditional media channels attract the largest percentage, online channels represent a growing portion of all marketing spend. But although social network interest, momentum and overall ad budgets are increasing, social network spending will remain a small percentage of total US online spending, remaining at 4.7% to 4.8% over the next few years (eMarketer). Still it’s important to recognize that resources directed to the social media space include time and effort and can be less concrete, and the key advantage of social media marketing is that you can get a lot of value for little investment. Continue reading “Marketing budgets must open to social”
