The vast majority of marketers who already use social media are bullish on social-media spending, with nearly 9 in 10 saying they plan to “increase” or “increase significantly” their spending, according to a recent survey by social-media application provider Prospero Technologies.
Prospero’s “2007 Social Media Survey” found that 30% of online marketers who use social media plan to spend significantly more on social-media applications in 2008, while an additional 58% also plan to increase spending, though not “significantly.”
Some 59% of respondents reported that social media performance in 2007 met or exceeded their marketing objectives.
Survey participants were from leading brand organizations from a variety of industries, including Media, Education, Financial Services, Health, and Sports and Gaming.
Asked about social media return on investment (ROI), 35% reported positive ROI and 41% said that ROI was “unknown.”
Responses to questions about how web marketers measure ROI reveal that direct sales revenue is not a top measure for determining social media success:
“The majority of respondents see engagement with their brand as the most important measure of social media success, while more concrete ROI measures such as sales and new business leads carry less weight,” said Rusty Williams, cofounder and vice-president of Prospero Technologies.
About the study: Prospero’s 2007 Social Media survey was conducted online in September 2007, gathering responses from over 50 businesses currently using social media applications, including organizations from the following industries: Broadcast Media, eCommerce and eCRM, Education, Financial Services, Health, Manufacturing, Online Media, Print Media – Magazines and Books, Print Media – Newspapers, Professional Associations, Sports and Gaming.
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