Marketing Pilgrim's "Research" Channel

Sponsor Marketing Pilgrim's Research Channel today! Get in front of some of the most influential readers in the Internet and social media marketing industry. Contact us today!

70% of Companies Plan to Spend More on Twitter & Facebook Marketing

According to a new study by Econsultancy and ExactTarget, marketers face a conundrum when it comes to increasing their online marketing budgets in 2010.

They want to do it, but 40% of those surveyed simply don’t have the budget to spend more on marketing this year.

What to do; what to do?

I know, let us reduce our spending on print ads (41%), radio (36%), and TV (31%):

And channel those funds into Facebook and Twitter (70%), blogging (64%), and SEO (64%):

Let’s hope these companies–and their agencies–can quickly figure out their ROI from social networking. Right now, only 17% of marketers say they have a good understanding of how sites such as Facebook and Twitter convert–compared to paid search ads (54%). Though those numbers stack up well against their current ROI measurement of print and radio, so maybe there’s hope. ;-)