socialmedian: Despite Recession, More Than 50% of Marketers Increase Spending on Social Media

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Despite Recession, More Than 50% of Marketers Increase Spending on Soc ... By judithgermain

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Source: ReadWriteWeb

Mar 16, 2009

Summary

In a recession, budgets are tightened, jobs are cut, and those who remain are expected to do more with less. Given this type of economic reality, it's surprising to hear of an industry reporting an increase in spending on anything, much less on something as new as social media. Yet that's exactly what's occurring. According to a new Forrester Research survey of 145 global interactive marketers in both B2B and B2C companies with more than 250 employees, the use of social media as a marketing tool is on the rise. What's more, Forrester reports that over 50% of marketers said they will be increasing their spending on social media marketing in the coming months.

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Part of the reason for this increased spending is thanks to the low cost of social media tools. Compared with larger expenditures like that of advertising for example, social media requires much less investment. In fact, three-quarters of those surveyed who knew their budgets said they allowed for $100,000 or less for social media tools over a 12-month period.

It's also easier for firms to increase

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Comments (7)

Panda88,

Mar 16, 2009

interesting but not really clear who the survey group was. >250 employees could mean 250-100,000. a $100k budget for a fortune 500 company to spend on social media is nothing.

Gutenmaher,

Mar 16, 2009

Un articol interesant precum si o intrebare: Aveti o ora pentru mine in zilele urmatoare? Preferabil dupa amiaza!

Michaelfidler,

Mar 16, 2009

@sarahintampa If we had search here, I could pull up at least a dozen conversations that we had here which predicted this outcome. It's nice to finally have the evidence to validate our assumptions. What was all of the panic about again? Thank You for finding the report and writing about it. I hope to see more data which backs this up in the months ahead!

Mister,

Mar 16, 2009

That mean they hope to see return; it would be interesting to see such increase over next few months.

Wayne Marr,

Mar 17, 2009

This will be a transforming innovation. I hope to see if come to pass

Blog Dudes,

Mar 18, 2009

Woohoo! Any Phoenix, Arizona companies reading this should spend those social media marketing dollars with us!

Hutch,

Mar 28, 2009

"According to a new Forrester Research survey of 145 global interactive marketers in both B2B and B2C companies with more than 250 employees, the use of social media as a marketing tool is on the rise. What's more, Forrester reports that over 50% of marketers said they will be increasing their spending on social media marketing in the coming months."