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Social Media Marketing Spend to Hit $3.1 Billion by 2014

     
6:33 pm on Jan 26, 2010 (gmt 0)

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Forrester [izurl.com]

But to me, the most interesting takeaway from the research is that overall advertising budgets will decline. Yep. With dollars moving out of traditional media toward less expensive and more efficient interactive tools, marketers will actually need less money to accomplish their current advertising goals. But reasonable marketers won't relinquish budget because their programs are running too efficiently. Instead, marketers will allocate unused advertising dollars into investments like innovation, research, customer service, customer experiences, and marketing-specific technology and IT staff, in order to further marketing's strategic influence within their companies.
9:19 pm on Jan 28, 2010 (gmt 0)

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But to me, the most interesting takeaway from the research is that overall advertising budgets will decline. Yep. With dollars moving out of traditional media toward less expensive and more efficient interactive tools, marketers will actually need less money to accomplish their current advertising goals.

I think advertising will become more expensive as it becomes more efficient and competitive, not less. If a marketer has extra money in the budget to afford competitively priced leads, they will more likely go for the leads to produce a better looking ROI on the money budgeted for marketing activities rather than do research or other non-income producing activities.

C7Mike

1:23 am on Feb 19, 2010 (gmt 0)

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Just saw this, and I have a bit of a tangent comment. I'm finding that the "research" and data analysis I've seen coming out of Forrester on social media stuff, is of very low quality, and it also appears they are promoting social media, as opposed to reporting on social media.

I'm guessing but it looks like they have some sort of vested interest agenda, OR, they simply are incompetent in interpreting data.
1:33 am on Feb 19, 2010 (gmt 0)

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What do they mean when they say, Social Media Marketing?

Do they mean buy Facebook ads? Does that qualify as Social Media Marketing? Or is that just an ad buy?

Are they talking about throwing $5,000 at Guy Kawasaki to tweet about corn flakes? Is that what they mean by Social Media Marketing?

What companies are going to be on the receiving end of $3 billon dollars? I mean, seriously, Guy Kawasaki would have to maybe stay up until four in the morning every day for a week to make the 600,000 tweets necessary to earn all of that money. :P