Apr 19, 2011

Most Marketers Set To Increase Social Media Spend This Year

An overwhelming number of marketers consider social media to be integral to their strategies this year, and 70% plan to increase their social media budget by more than 10% this year, according to a poll from Effie Worldwide and Mashable.

The poll, given to a group of ad agency executives and marketers from firms such as Bank of America, Colgate-Palmolive and Mini USA, among others in February, also found that the primary social media goal is to increase Facebook “Likes.”

Speaking on behalf of themselves and their clients, group members reported that social networking would take 11.9% of their overall budget this year compared with 13% for TV. That figure should be taken with a grain of salt, however, since $68.7 billion was spent on all TV advertising last year, compared with just $26 billion for Internet advertising,
according to the Internet Advertising Bureau.

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