Social Media Snatches Traditional Marketing Budgets

Inplace #2

ADOTAS – socialmedia4_small.jpgEngagement — the holy grail for marketers. As Twitter use swells and Facebook leaps past 350 million global users, marketers are increasingly foraging for this treasure in the social mediascape, subtracting funds from traditional media.

Alterian’s “Annual Survey 2009” — which included 1,068 marketers, 62% North American, 36% European and 2% from the Asia-Pacific region — found that 40% of respondents were shifting more than one-fifth of their traditional direct marketing budgets toward digital and social media channels. Another 21% said they were moving 10% to 20% thataways.

Overall, 66% of marketers plan to invest in social media, while 67% increasingly important or critical to success. Fifty-seven percent of respondents plan to use their budgets to improve their websites so that they can open dialogues and increase engagement with consumers.

However, while more money is being poured into social media, only 36% of respondents reported investing in social media monitoring and analysis tools, with 64% forgoing what Alterian noted was the key to an effective social media strategy. In addition, 42% of respondents don’t incorporate clickstream data into their customer database.