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Social Media Will Account for Nearly 10% of Marketing Budgets

According to a survey conducted by the American Marketing Association and Duke University, social media marketing is clearly on the rise:

  • Social media spending is expected to account for 9.8% of marketing budgets over the next year (up from 5.6%)
  • Social spending is projected to climb to 18.1% of total marketing budgets in the next five years
  • B2B services companies are expected to nearly double their social spending, up to 12.2% of total budgets (from 6.9%)

However, integrating social media strategy into overall marketing plans has a long way to go, as reported by Marketing Profs:

  • Only 10.5% of CMOs (Chief Marketing Officers) felt that social media was integrated ‘very effectively’ with firm’s marketing strategy
  • Only 6% felt that social media was integrated ‘very effectively’ with firm’s overall strategy

Survey results were based on the responses of 421 top marketers in January 2011. See the full 2011 CMO Survey here.

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