Companies hire staff, while increasing spending and improving the planning of their efforts in social networks.
During the summer of 2011, executives from Booz & Co. and Buddy Media conducted a Fortune 100 survey among company managers for their “Capabilities: Social Media and Marketing campaign.” Among the conclusions of this study stands out the need to make investments in the entire spectrum of social networks. Booz & Co. and the Buddy Media study pointed out that these will be the recipients of the highest percentage of total spending on digital marketing in the next three years.
67% of the respondents allocated less than 5% of the total expenditure to social networks. But when asked about how things would be in three years, 32% said that investment in digital marketing will be between 5% and 10%. 27% predict that it will be from 10% to 20%. An additional 28% of respondents believe that social networks will account for more than 20% of their investment in digital marketing at that time.
Where does that money go? When asked about where they are investing, 57% of respondents said that in hiring full-time employees. In addition, 48% highlighted the services provided by the partners, 39% said that the budget was allocated to the creation of more content and 38% mentioned the purchase of media.
Currently, 65% of respondents said they have plans to improve their policies on social networks, 63% for the integration of social networks in global marketing plans and 59% to monitor social networks and responsiveness fast
Looking ahead, 56% admit that they are studying how to use the ideas they collect from consumers in the network, or will do so shortly, and 47% will plan how to use key performance indicators and scorecards. Interestingly, 41% of respondents said they are not planning to build new platforms for their content. Only 15% are concerned about this issue for now, although 44% say they will take care of it soon.
As the idea of developing marketing plans in social networks matures, it is necessary to determine the strategies that will impact consumers and invest their budgets and resources appropriately.