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Study: Retailers Shift Marketing Dollars Towards Social Media

Source: Mashable!

May 05, 2009

Summary

Although many retailers are reducing their online marketing budgets, spending on social media is falling at a slower rate than spending in other online marketing channels.

Moreover, amongst companies that are weathering the current economic storm and expanding marketing budgets, investments in social media are generally on the rise. This according to a new study released today by The National Retail Federation’s Shop.org and Forrester Research.

Overall, the study found that 30 percent of retailers plan to reduce their online spending this year, while 24 percent plan to increase it and 46 percent are keeping their budgets the same. However, the stats get more interesting when you drill down to how both the successful and the struggling retailers are allocating their marketing dollars.

Key Findings

Amongst retailers that are reducing spending, 56 percent are cutting spending on search engine marketing, while only 24 percent will cut their social media marketing budget.

Amongst retailers that are performing well (“beating expectations” according to the study),

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