Social Media Marketing Budgets to Increase in 2009

Social Media Marketing Budgets to Increase in 2009

Yesterday eMarketer posted “Marketers Moving to Social Media” which gave the high-level the results of a study conducted by the Aberdeen Group wherein the use, experiences and intentions of more than 275 enterprises using social media were examined. The results of this study show that 63% of companies in the survey plan to increase their media marketing budgets this year.

According to eMarketer:

“Companies use multiple approaches to identify the individuals who wield the greatest amount of influence in any given topic area and to track changes in their influence over time,” said Jeff Zabin of Aberdeen. “Best-in-class companies engage these top influencers as brand evangelists, and then track the impact of their words and actions in terms of return on marketing investment.”

eMarketer has estimated that social network advertising will reach $2.35 billion in 2009 – a rise of 17%. Good news for those of us who make our living helping companies figure out how to tap social networking to build relationships, enhance their brands and drive more sales.

A key takeaway from the research that Aberdeen did is that almost 40% of the companies they surveyed said it was pretty darn difficult to figure out how to measure the impact of social media marketing. That’s a pretty loud call to action for those of us hawking social media – as part of our spiel we need to not only talk ROI but also how to prove that ROI via quantifiable measures.

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