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Is Social Media Worth the Cost?

Sherpa chartofweek-01-05-10-lpQ: How is social media marketing is perceived within your organization at budget time?

A: Exciting news, companies are starting to understand and incorporate social media marketing! Almost half of the respondents said that they see social media as an effective marketing tactic and intend to increase their budgets conservatively.

In addition, 7% of respondents said that they plan to liberally increase their social media budgets in 2010.

It seems that the companies who are investing time and money into social media are getting results on par with what they invest. The 7% of organizations who have a strategic social media strategy in place are seeing measurable ROI, which is why they are willing to spend more money. The 49% who are taking baby steps into the social media field are seeing equivalent results. Those who are investing little to no time into the medium are seeing the results of their efforts.

As social media continues to grow, it will be interesting to see how people’s attitudes and opinions change throughout the year.

Where do you stand on the Sherpa chart? Are you interested in changing your position? If you want to invest in a social media strategy that will produce results, contact an mRELEVANCE team member. We would be more than happy to walk you through the process and make sure that you see a return on your investment.

*chart courtesy of MarketingSherpa