Legal Marketing & PR

49% of Marketers Plan to Increase Budget for Online Social Media

By Larry Bodine

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

• Conservative budget increases by almost half of all marketers surveyed -- based on the promise that social media will eventually produce ROI -- is another vote of confidence for this marketing channel in 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.

Not surprisingly, those who have reached the strategic phase of social marketing maturity are far more likely to be producing measurable ROI or at least seeing signs of a return on their investment on the horizon.

On the other hand, marketers in the trial phase of social marketing maturity are more than four times as likely to not recognize the value this tactic has for organizations willing to invest appropriate time and resources.
 

Full post as published by Larry Bodine's LawMarketing Blog on February 13, 2010 (boomark / email).