Here’s something to cheer about in a recession hit economy.
A new report by Forrester called “Social Media Playtime Is Over", indicates that companies are optimistic about the role of social media marketing in the face of recession. Over half (53%) of the 145 interactive marketing professionals surveyed intend to increase their social media marketing budgets. Only 5% of the respondents plan to decrease the spending.
The report goes on to reveal that the fastest growing categories in the social media bouquet are social networking, blogging and user generated content. The general opinion is that these are relatively inexpensive and more effective tactics to communicate marketing messages.
Another interesting, but not so heartening revelation is that three fourth of the marketers surveyed are spending a miniscule $100,000 or less per year on social media. And, social media is not an integrated part of their overall marketing strategies. They are just experimenting with social media tactics in isolation.
This report strengthens our already firm belief that Social Media Marketing is the way to go. However, what needs to be kept in mind is that social media can’t be looked at in isolation. It has to be in synergy with a company’s overall marketing strategy. Only a focussed, consistent social media approach can deliver measurable results in the long run.