Companies Expect to Spend more on Social Media in 2012
GM pulling their Facebook ads may not indicate any sort of trend. A recent survey by The Creative Group (a specialized creative, advertising, and marketing recruiting firm) has discovered that a majority of businesses may be willing to increase marketing investment in social media (particularly Facebook) in order to form a more positive corporate image and reputation. The survey found that 53 percent of advertising and marketing executives said their companies will increase investments in Facebook throughout the year. More marketing spend is also expected to be channeled to Twitter (43 percent), Google+ (41 percent), LinkedIn (38 percent), and YouTube (36 percent).
“Companies recognize the powerful role social media can play in brand building, and they are willing to invest in initiatives that can help them increase customer engagement,” said Donna Farrugia, executive director of The Creative Group. “As platforms like Facebook continue to evolve, it’s especially important for businesses to keep pace.”
She continued: “Although companies plan to spend more on social media, finding the talent needed to oversee these programs can pose a challenge. Bringing in freelancers who have worked on successful social media initiatives can be helpful, since these professionals can not only develop and implement strategies but also impart their expertise to core team members during the process.”
Only about 5 percent of respondents reported planning to spend less on social media marketing while those indicating that expenditures would remain the same were Facebook (38 percent), Twitter (45 percent), Google+ (43 percent), LinkedIn (47 percent), and YouTube (50 percent).