Forrester Research just released a report that suggests the tough economy will be the catalyst for more spending on social media marketing.
The survey of 145 interactive marketing professionals snuggles-up nicely with cScape’s research published in December that suggested companies will focus more on customer engagement in 2009.
Highlights from the report authored by Jeremiah Owyang include:
- 53% of interactive marketers expect their budgets for social media marketing to increase as a response to the recession.
- Social media budgets remain miniscule compared to the rest of interactive marketing. Three-quarters of marketers say their social media spend is $100,000 or less over 12 months.
- Social media is not yet a marketing line item. 45-percent of marketers say their social budgets are determined as needed and 23-percent say they scrape together funds from wherever they can find them.