Being a new strategy, Social Media impact on budget plans is a good way to test hoe it perceived and to what extent companies are looking to invest in it.
MarketingSherpa just published the results of a survey in which companies were asked on their plans regarding Social Media while constructing the budget for the coming year.
The concept and the underlying assumption were simple: companies will allocate their marketing budget to Social Media activities based on their current perception of the value (return on investment) that they are to gain from Social Media.
As depicted in the following chart, the majority of companies that were surveyed plan to increase their investment in Social Media (!). Only 27% of the companies answered that Social Media is not a priority and is just an activity they employ on their "spare time".
Taking into account the fact that Social Media is not here too long, the results of the survey show that many companies reached a point where they see value is Social Media marketing, either already or planning on witnessing ROI in the near future.
The confidence in Social Media is more emphasized by the fact that 49% of the companies that were introduced with the survey reported they are going to increase the investment in this channel in a conservative manner. This fact alone shows a belief in realizing that Social Media will show significant results in the mid to long term.
The entire article from MarketingSherpa can be found here
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