Industry News

Top Marketers Projected to Increase Spending on Social Media

In the summer of 2011, Booz & Co. and Buddy Media surveyed managers from Fortune 100 companies for their “Campaigns to Capabilities: Social Media and Marketing” report to understand digital marketing priorities.

As the chart below shows, today, most marketers are spending less than 5% of their digital budgets on social media.  In 3 years however, most marketers will allocate over 20% (or double) the % of their digital spending allocated to social media.

 

The Implications for Marketers

The key implications for marketers are:

  • Are you keeping up with the industry in terms of how your digital spending is allocated?
  • How will you test and learn to make your social media spending more efficient?
  • As social media spending increases, how will you measure so you know which parts are effective?
  • How will you structure your organization for success in social media marketing?
  • How will you gain leadership buy-in for social media marketing?
  • What is the learning program for your organization with social media marketing?
  • How will you train CEO and leaders on digital and social media marketing?
  • Who are the right agencies to support your social media marketing efforts?
  • What do you anticipate your biggest challenges will be in social media marketing?
  • Who are key stakeholders to contribute to a social media marketing team?
  • How can you get comfortable responding in social media?
  • What organizational structure do you need to be successful in social media?

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