From eMarketer: In November 2009, MarketingSherpa surveyed US marketers about their stage in the social media life cycle; a plurality were still in the transition phase. But a substantial percentage had progressed to using social media strategically in their research, objectives and actions. That entailed having a formal process that was routinely performed for social campaigns. Paul Verna, eMarketer senior analyst, said in the report “ Five Reasons Why Marketers Need to Have a Social Media Strategy ” that marketers often neglect an integrated strategy because of the perception that social media is easy and cheap to do. But much of the real cost of social campaigns is in the people-hours spent fostering and maintaining social conversations. According to data from eROI nd eMarketing & eCommerce (eM+C) , US marketers spent 13% of their online marketing time on social media in 2009, the second-largest share of any tactic. Marketers who spent 13% of their online marketing time during 2009 on social media have surely already questioned the amount of time they plan to commit to social media in 2010.
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Social Media Marketing Lifecycle Progress
According to a report from strategy consulting firm AMR International, online B2B spending will recover in 2010 and experience compound annual growth through 2013. From eMarketer: The B2B Online Marketing report notes that growth in several areas will exceed the average rate. B2B social media marketing spending will enjoy a CAGR of 21% over the period, while lead generation Websites will increase 17%. Unlike in media as a whole, where the biggest B2B marketing focus is on building awareness, in the online channel lead generation is the top priority. Customer retention is also more important online, with awareness lagging behind when it comes to divvying up digital budgets. Lead Generation As an online marketer, I am amazed business to business marketers are still allocating the majority of their media spend to building awareness whether online or off versus focusing exclusively on harvesting leads online. I guess not all B2B Marketers are aware …
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Online B2B Marketers Focus On Lead Generation
Below the line spending on Social Media Marketing continues to increase according to a recent CMO Survey from Duke University and the American Marketing Association. According to eMarketer: Marketers were already planning on upping spend in August 2009. They have continued to increase outlays since then, with respondents in February 2010 claiming they will devote nearly one-fifth of their marketing budgets to social media in the next five years. Social Media Marketing Budget Looking across sectors, business-to-business (B2B) spending is nearly in line with business-to-consumer (B2C), except in the lagging B2B products category. While B2C services were behind the game in August 2009, spending in that area has caught up and will remain in line with other outlays for the next several years. B2B product marketers will remain behind the curve over the next five years. B2B B2C Social Media Spending Notably, spending plans for every sector were higher in February 2010 than they had been just six months earlier. Growing B2B spending on social media lines up with the general goals of B2B marketers: customer relationship management and brand-building, which respondents claim will be the highest growth areas in the next year. Social marketing, with its strength in boosting brand engagement and loyalty, is an effective medium for both purposes. While many marketers plan to increase their below the line spending on social media marketing in the coming months and years, an inability to directly measure social media marketing’s performance and return on investment will ultimately keep many a marketers social media plans from reaching an above the line marketing expense.
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Below The Line Spending On Social Media Marketing To Increase
We're pleased to share the current webinar schedule for December 2009, ranging from account security tips to industry research and strategies. The schedule is listed below, and class descriptions can be found on the Google Training site.
ThinkHealth - Online Video for Health Marketers
Tuesday, December 8th at 10amPST / 12pmCST / 1pmEST
Register here
Driving Brand Engagement among Social Media Users
Tuesday, December 8th at 11amPST / 1pmCST / 2pmEST
Register here
Google Account Security: Tips & Best Practices
Thursday, December 10th at 11amPST / 1pmCST / 2pmEST
Registration password: agency1
Register here
Google and Compete Present: Refining the Travel Search Process
Tuesday, December 15th at 10amPST / 12pmCST / 1pmEST
Register here
Also, if you missed out on past sessions such as Display Week or the Holiday Webmaster Webinar, be sure to check out on-demand recordings of them here.
Posted by Agency Ad Solutions Blog Team
