Is it really a shock to hear that brands are increasing social media marketing spend this year…?- Blue Orbit, an independent marketing communications agency, reports that social media will be key in the majority of businesses marketing strategies for 2011.
The author team of Marketing Communications demonstrate the importance of an integrated marketing strategy from which each marketing activity can contribute quantitative measurements in different ways (Chapter 17, Marketing Communications: A brand Narrative Approach).
According to a recent industry report, marketers are set to increase their spend on social media by 10% much of which will go toward trying to find new Facebook fans (for further information visit, www.cmswire.com). For many businesses the increase in budget awarded to social media will include outsourcing to social media agencies, could this be due to lack of resources and man power in house?…And should companies be spending more time training employees internally?
The question is, how are marketers planning to measure ROI, if at all…? The point of social media is not solely to track sales but to achieve brand engagement. A study conducted in 2007 reported that direct sales revenue was not the top measure for determining social media success. Has this changed and are marketers under more pressure to track ROI as more investment is poured into social media…?