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Marketers predict rise in social media budgets

Date: February 27, 2013

Multichannel(s): Social Media Marketing

Added by: Mayra Ruiz-McPherson

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Social media spending as a percentage of total marketing budget is expected to double over the next five years, according to a survey of 468 US chief marketing officers.

Marketing professionals reported they were currently spending 8.4 per cent of their budgets on social media, according to The CMO Survey but respondents estimated they would be devoting 11.5 per cent of their budget to social media over the course of the next year.
The survey, which was supported by Duke University’s business school, predicts that within five years that figure will rise to 21.6 per cent.
Source: CorpComms

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