Top Marketers Projected to Increase Spending on Social Media
Nov 03 2011
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?