A significant number of businesses plan to spend more on social media marketing during 2012, an encouraging trend reported from the results of a survey carried out by specialist content marketing agency, Red Rocket Media. The firm surveyed marketing professionals across a wide range of industry sectors and found that 7% will be spending “significantly more” on social media and 34% will be spending “more.” Those predicting that their spend will stay the same accounted for 49%, whilst 7% said they will spend “less” and 2% “significantly less.” “The findings from our survey confirm what we are hearing in the market place on a day to day basis,” said Matthew Hopkins, managing director of Red Rocket Media, in a news release. “We are attracting more and more businesses that are realizing the value that content marketing can add to their social media strategies, particularly with the search engines now placing so much emphasis on high quality, original content. Most of the companies have already taken their first few social media steps but very quickly realize that to get a better return on their social media, they need to increase the budget and resources allocated to it.” The participating marketing managers and business owners surveyed intend to allocate more resource on trying to get readers to actually engage with their content such as encouraging staff to spend more time participating in conversations on Twitter or in groups/forums on LinkedIn.
Businesses also plan to increase expenditure on measuring the effectiveness of their social media as this is an area many struggle to monitor. It is hoped that, with greater visibility, they will have a more compelling case to present to the powers that be, thus securing an enhanced budget longer term.
“One of the positives we gleaned from the survey was that, despite the huge challenges businesses face when it comes to social media, they are still keen to invest in it during 2012,” Hopkins added. “This is very encouraging as it shows that they consider social media success to be a long term objective and businesses which take this view are much more likely to persevere and, therefore, succeed.”
The small percentage (10%) that intend to reduce their spend is likely to be attributed to the fact that those businesses do not have the time, budget or resources to implement their social media strategy effectively and, therefore, aren’t seeing the results they had hoped for.