Social Media Marketing Spend Is Up, Way Up

Nearly one-fifth of marketing dollars will go to social media in five years

Even with a struggling economy and limited funding, marketers are upping their spend. They will devote nearly one-fifth of their marketing budgets to social media in the next five years. The maturity and public awareness of social networks is a major contributor to the shift in marketing. The economy has forced marketers to become more savvy and budget conscious and social media is a natural fit for the underfunded.

Social media provides marketers a unique branding ability and offers an effective solution in a down economy. Do these short-term results provide us some insight into the future of marketing? In my opinion there is absolutely no reason to not be engaged in social media. Currently I don’t think there is another form of marketing or advertising that has a bigger reach or ROI.

Source: The charts on the left are from “The CMO Survey” done by the Duke University Fuqua School of Business and the American Marketing Association, as reported by eMarketer.

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