Marketers across the board are realizing that social media is here to stay and those that have jumped in have found that they are making new friends.
How does that translate though into spending out of your marketing budget? With budgets shrinking over the last 18 months, marketers have had to do more with less and find social as a viable option.
A recent article in eMarketer, Marketing Budgets Spiral Towards Social, they cite recent surveys from both Duke University’s Fuqua School of Business and American Marketing Association that indicate that upwards of 20% of marketing dollars will be going to social in the next five years.
B-to-B marketers are catching up with their counterparts in B-to-C. Part of the reason B-to-B marketers are spending more on social is because it lines up with their marketing goals of brand building and CRM.
What are your goals moving forward in 2010 and beyond?
John Sonnhalter
Welcome to my blog, Tradesmen Insights. I'm the master of one trade, founder of a B-to-B marketing communications firm to companies that target tradesmen in construction, industrial and MRO markets.
Interesting stat. Looks like the masses are slowly coming around. I think most businesses are still very vague as to what that money will be spent on though.
thanks for the comments. Most businesses are walking before diving in with both feet which is good. As they start to get good results they feel more comfortable and will invest more in this media