Sphinn - No Budget for Social Media

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No Budget for Social Media

Went Hot: November 5, 2007 - 4:47 pm
Posted By: socialmedia 381 days ago
Topic Type: News Story (Jump to http://social-media-optimization.com)
Category: Social Media

78% of senior managers say that they know that social media marketing can and will give them a competitive edge. However only 7.75% of their total online marketing budget is actually dedicated to social media marketing.

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from tappingcreativity 381 days ago #

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Ooh. Sounds like some people will soon be encouraged to "Think outside the box" or "Do more with less" or any of those other cliches that mean, "We think this is important, but not enough to spend money on."

from Jimmy 381 days ago #

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Lets be honest, the people out there in the 'real world' have little clue as to what Social Media marketing is. They are just beginning to understand search. (How many times a week do you have to explain search in its various forms?) It's still very early days yet.

from Gamermk 381 days ago #

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It's still a struggle to just get money for SEO, let alone SMM. Nothing really surprising here.

from zerotype 381 days ago #

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I don't agree that companies are dumb on search at all. I work with F100 companies that are all very keen on search and willing to throw gobs of money at it every month. It only take 1 successful quarter for a CFO to realize that when done right, paid search is wildly effective.

However, it is true that in the real world social media is a huge buzzword and that everyone has some idea of what it is and that it should be used 'somehow' in the campaign buildout, but it's very rare that it's actually acted upon. The (mis)understanding ranges from adding a blog to the corporate site to making little quick post buttons for digg. It will be a while before the majority of account managers are savvy enough to think of social media stragegies to compliment the usual display and search campaigns, let alone be able to convey the value of it to the client.