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A new Forrester report (Marketing Budgets Suffer Significant Cuts) suggests 71% of CMOs have seen their marketing budgets reduced–of those, 51% saw a reduction of at least 20%!
It’s enough to send any marketer running for the hills, but really it’s only those knee-deep in old school channels that need to worry. As the chart below indicates, online advertising, email marketing, and social media are the least hit, with TV, print and radio seeing a whopping 67% decrease!
Scratching below the surface, we see even more good news for new media marketers. While 7% of CMOs plan to spend less on social media, 47% plan on increasing their spend in this area! The same goes for web site development, online advertising, and email marketing–all seeing more budget increases than decreases.
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Back in March, Twitter gave us all a head-fake when they started posting “
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Not so much as a security alert–but certainly a reminder of how easy it is for any of us to post something to Facebook that could come back to haunt us–news broke over the weekend that the wife of Britain’s top spy posted far too much info on the social networking site.
There are rumors out there. There are rumors of rumors of how people are using Twitter to drive awareness and new business. What has started to happen though is that the rumors tend to stick with the same names like Dell, who attributes some $3 mil plus in revenue to its Twitter presence and Comcast which has turned its customer service upside down and inside out with great success. What we need is more evidence for those that are still unconvinced that Twitter has any real application beyond sharing the inane like when someone has looked out the window and “Tawt Tay Taw a Puddy – Tat” (hat tip to Tweety Bird from Bugs Bunny, the original Tweet).
