Forrester is releasing a report today on how marketers plan to budget for social media programs. Looking at the data at first, it’s a bit of a confirmation of our work since we’ve been seeing this trend for a while now at Voce.
Jeremiah Owyang is the lead on the report and states:
The recession has put more pressure on interactive marketers to deliver measurable results. While many marketing budgets are being cinched, more than 50% of interactive marketers say they will increase their spending on social marketing.
The report surveyed 145 companies with more than 250 employees and stated that spending remains relatively small at $100,000 or less on average. While that is small compared to traditional marketing spends, it is a still a good chunk of change for something that’s still gaining acceptance in corporations. A few years ago that number was most likely $0.
Another finding of the report stated that social media is not a line item yet among the respondents. This is quite a bit different from the clients that we work with, but that’s to be expected. The majority of our clients have dedicated budget and staff that are focused on social media.
The key though is measurable results if those programs are to grow. If you can’t prove that you’re spending that budget wisely why should you receive any budget?