Dec 7, 2009
Social Media and Digital Advertising Agencies Expect Increased Budgets in 2010
Econsultancy's Social Media and Online PR Report indicates the majority of companies in a recent survey are planning to invest more in social media next year but are struggling to find the time and resources to manage their activity. They offer up a great comprehensive PDF sample of the report and expand on a few of the key data points below.
- Almost two-thirds (64%) of companies say they have experimented with social media but have not done much.
- Micro-blogging (i.e. Twitter) is now the most widely adopted social media tactic, used by 78% of company respondents.
- Just under half of companies (46%) are not yet using reputation or buzz monitoring tools to understand what is being said about their brand.
- Nearly a third of respondents (31%) are not spending any of their budget on social media.
- There is a mixed view of the benefits of Twitter, with almost a third of respondents (31%) saying that there are tremendous opportunities available.
- The biggest barrier to better social media engagement for companies surveyed is the lack of resources (54%).
Of particular interest is that very few companies (just 10%) are not engaging in any social media activity whatsoever. Granted, not one of the industries surveyed included pharma, biotech, medical device or healthcare, but the data is compelling enough to warrant these industries paying attention and dipping their toes in the water. Conclusion: The discussions and conversations are happening. And, these industries need to get in on the conversations or be quickly left behind.
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