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Oct 05, 2010

New Chart: Perceptions of Social Media at Budget Time

SUMMARY: We asked more than 2,300 marketers to describe how social media was perceived by their organizations at budget time, and this week’s chart includes their responses. Find out what percentages of organizations intend to increase social media budgets both liberally and conservatively in this week’s chart.
by Sergio Balegno, Research Director

How Social Media is Perceived at Budget Time

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Click here to see a larger, printable version of this chart

Social media is gaining respect at a critical time -- when budgets are being formulated.

Considering that social media is at a very early stage in its lifecycle, a 7% confidence rating indicating it is producing measurable ROI and should be funded liberally is outstanding.

Conservative budget increases by half of all organizations at budget time, based on the promise that social media will eventually produce ROI, show another vote of confidence in the medium for the longer term.

The 17% of organizations who still believe social media marketing is basically free -- and should stay that way -- are destined to get what they pay for.

For additional research data and insights about social marketing, download and read the free Executive Summary from the MarketingSherpa 2010 Social Media Marketing Benchmark Report.

See Also:

Comments about this Chart

Oct 11, 2010 - Albert Maruggi of providentpartners says:
I disagree that 7% is outstanding. Given the economic condition, the trend lines of traditional media this indicates anything but outstanding. This indicates lack of knowledge, or lack of serious positive participation from those that have tested social media. I still contend if social media is to succeed at the business level more consumers need to participate. By participate I mean produce original content or comment in some form, either through engagement or redistribution of information.

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