Every service in the Internet age hits a point where the newness of the product / offering / channel wears off and people (those that control marketing spend in particular) take a seat, take a deep breath and start to look at everything beyond the hype. Is social media starting to hit that point?
Data from a study called “2013 Marketing Trends Survey” released this month by Strongmail shows that marketing executives are not automatically saying “Sure!” to spending more on social media in 2013. Those questions which saw a decrease in response are in red. (The chart comes from eMarketer).
None of the drops are drastic except the amount of marketing execs that said there would be no increase in spending on social media programs in 2013. That jumped from 13% to 21%. Not sure if that is a function of the economy, the effectiveness of social media, a combination of the two or some other cause.
Even those who are looking to increase spending are doing so in areas to measure and control what they are doing more than just being somewhere else because it’s the next hot thing. Pinterest’s growth in this context is really an outlier since it is a newcomer to the scene. Newcomers always get the benefit of seeing really big numbers but when you go from nothing to something all growth appears bigger than it really is.
Is this what you are seeing these days? Is your experience the same or is it different? Let us know in the comments.