Investment in Social Media in Social Networks

Social Media (user generated content) is only a small part of social networks but it certainly gains the most attention. Neither here nor there really. Heres some statistics for you:

Seventy-eight percent of marketing professionals polled in Coremetrics’ annual “Face of the New Marketer” survey saw that social media marketing was a way of getting an edge on their competitors. However, just 7.7 percent of their total online marketing spend was allocated to it compared to 33 percent to online advertising and 28 percent on online promotion design and implementation.

“This study echoes many of the qualitative findings that we hear from our customers on a day to day basis—marketers are aware of the impact that social media marketing can have on their overall program, but view it as uncharted territory, not worthy of their budget,” said John Squire, SVP product strategy, GM marketing services at Coremetrics.

“As more and more marketing tools become available, we’ll continue to see a greater divide between perceived importance and resource allocation. The ability to accurately monitor the ROI achieved by new marketing tools will help marketers take that first step toward incorporating new digital marketing programs, as well as rethink the effectiveness of current campaigns.”

The survey found that in the last 12 months:
58 percent of respondents have implemented UGC or reviews.

31 percent of respondents have started a blog.

A quarter of respondents have put in place an RSS feed.

From here at Bizreport. What are you doing this weekend?

Laurel Papworth

Named by Forbes™ Magazine in the Top 50 Social Media Influencers globally, named Head of Industry, Social Media (Marketing Magazine™) and in the Power150 Media bloggers (AdAge™). CERT IV Training and Assessment certified trainer (Diplomas and Certificates etc) Adult Education. Laurel has manager Facebook Pages for Junior Masterchef, Idol, Big Brother etc. and have consulted on private online communities for banks Westpac, not for profits UNHCR & governments in SE Asia. Lecturer, social media, University of Sydney for 10 years and Laurel has 11,000 online students. Laurel Papworth personally connects to 6 million followers online and has taught around 100,000 people in the last 10 years how to be social media managers.

One thought on “Investment in Social Media in Social Networks

  1. Social media hasn’t been something that marketers can use because Social applications, whatever their subscription size, are all stovepiped. Therefore, they aren’t mass-media yet.

    Most marketing happens in a fairly non-targeted and unfocused way. “Eyeballs”. But social media, while it’s exciting to them, is also pretty scary because it is focused by nature.

    As the market or the viewers become more focused, the message to them needs to be more wordsmithed and specific.

    You never expect your ads on TV to reflect you. But more and more, we are annoyed when we see ads on the net that are not.

    “Why can’t Google guess what I like?”

    I think this is the challenge.

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