More spending on social media in 2010

According to The Social Media and Online PR Report, published by Econsultancy in association with bigmouthmedia, 86% of companies plan to spend more money on social media in 2010, while 13% are planning to keep the same level of budget. 54% of companies say that the biggest barrier to better social media engagement is a lack of resources. Only 10% of companies are not engaging in any social media activity whatsoever. Benefits of social media include increased brand awareness (73%), increased customer engagement (71%), better brand reputation (66%), and increased communication with key influencers (62%). Lots more details at MediaPost, including stats on b2b and b2c adoption and various industries; full report can be downloaded from Econsultancy (premium).