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By on February 4, 2010

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

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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. ;-)


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14 comments on “70% of Companies Plan to Spend More on Twitter & Facebook Marketing”

  1. Tom Kasperski Says:

    February 4th, 2010 at 10:09 am

    I find summaries like this to be almost useless. It would be helpful to see results reported by industry-type, but I’m not going to shell out $250 to see if the actual report does so.
    .-= Tom Kasperski´s last blog ..Changing the Marcom Mindset (part VII) – Marcom as an Experience =-.

  2. Chelsea Junget Says:

    February 4th, 2010 at 12:06 pm

    I think the ROI issue is likely more vexing than the lack of budget. If ROI could be proved clearly, the budget would likely appear :)

  3. Barbra Gago Says:

    February 4th, 2010 at 12:18 pm

    We’ve seen how this is becoming more and more of an issue. I think for B2B companies at least, the solution could be integrating a marketing automation solution that let’s you track multi-channel campaigns including social media all the way through to sales. We recently launched our gURLs (genius URLs) and I’ve been using them to track conversations from Twitter, Facebook, or LinkIN back to my site, and through to a download, webinar attendee, or sale.

    Because social media is becoming such an integral part in everyone’s overall marketing strategy, it’s critical that you can prove its effectiveness as that relates to sales, not simply click-throughs by antonymous visitors. I’ve even been able to track the initial touch point, let’s say a “tweet” and have that influence the lead score within a lead scoring / nurturing campaign.

    If you really want to prove the effectiveness of your campaigns (we all know social media is important, but we also know the CEO wants to know the specific ROI) you need to have a process in place that allows you to know the ROI at any point, and guess what, this is actually possible.
    .-= Barbra Gago´s last blog ..Welcome to “The Genius Social” =-.

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  14. Marketing Greece Says:

    February 26th, 2010 at 4:51 pm

    Very useful info Andy thank you.

    In my opinion the thing that concerns me the most is the 40% of the restricted budget for all types of marketing. We have to use more efficiently the money we give for advertising and don’t just rely on social medias only. Most of our clients have already postponed their marketing and advertising campaigns and the question here is for how long…