21% of Marketers Moving Budget from Mainstream Media to Fund Social Media

King Fish Media has released a report, “Social Media Usage, Attitudes and Measurability: What Do Marketers Think?” based on an April – June survey of 457 respondents at b2b and b2c marketers.  Highlights from the report:

  • 72% of respondents currently have a social media strategy, and 80% of those who do not plan to have one in the next 12 months.
  • 75% plan to increase their investments in social media.  The largest percentage (35%) say that their social media investments are tied to specific programs or campaigns.  21% say their social media investment is funded by moving dollars from mainstream media, while 33% say it is an increase in spending.
  • 70% say their social media goals include both customer retention and new customer acquisition.
  • The top platforms currently being used are LinkedIn (87%), Twitter (84%) and Facebook (78%).  65% have a corporate blog; 37% are planning to add one.
  • 30% have done advertising on social media. Of those, 56% said the campaign performed as expected or exceeded expectations; 27% said it performed worse or far below expectations.

The report includes additional stats and metrics about various ROI measures that companies are tracking.  You can download the full report from Kingfish Media (registration required).