Marketing Budgets Spiral Toward Social

Marketing Budgets Spiral Toward Social

By , Mar 04 in blog with 0 comments

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

Social marketing budgets are constantly going up, according to “The CMO Survey” from Duke University’s Fuqua School of Business and the American Marketing Association (AMA).

Marketers were already planning on upping spend in August 2009. They have continued to increase outlays since then, with respondents in February 2010 claiming they will devote nearly one-fifth of their marketing budgets to social media in the next five years.

112065 Marketing Budgets Spiral Toward Social

Percentage of marketing budgets spent on social media

Looking across sectors, business-to-business (B2B) spending is nearly in line with business-to-consumer (B2C), except in the lagging B2B products category. While B2C services were behind the game in August 2009, spending in that area has caught up and will remain in line with other outlays for the next several years. B2B product marketers will remain behind the curve over the next five years.

112064 Marketing Budgets Spiral Toward Social

Social media marketing spending by B2B and B2C marketers

Notably, spending plans for every sector were higher in February 2010 than they had been just six months earlier.

Growing B2B spending on social media lines up with the general goals of B2B marketers: customer relationship management and brand-building, which respondents claim will be the highest growth areas in the next year. Social marketing, with its strength in boosting brand engagement and loyalty, is an effective medium for both purposes.

 Marketing Budgets Spiral Toward Social


About the author

 Marketing Budgets Spiral Toward Social Mike Andrew has been working with the Internet and small business for over 12 years. Mike has been a keynote speaker at conventions and seminars and conducted social media training sessions all over the world. Mike has an extensive media background having worked in electronic media for over 30 years. Mike specialises in social media and Internet marketing strategy, SEO techniques and search engine marketing campaigns. His articles appear on numerous blogs around the web as well as national magazines.

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