Social Media becomes line item for Corporate Marketing budgets 2007

Categories: Web IndustryPosted on December 15th, 2006

I’m starting to discoverer that Social Media is indeed part of the corporate budget for many companies this coming year. We’re getting contacted from curious Marketers who have a wide degree of understanding and deployment. I’m hearing this from clients, prospects, and other folks that help companies deploy Social Media.

Many companies are contributing a few thousands to tens of thousands per month on developing programs that are designed to reach out and join the online communities. I don’t know in all cases where this budget is coming from, but I do know that old world print advertising dollars are shifting to ‘new’ media, and Social Media is part of this.

2007 to be the year of Online Communities.

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This entry was posted on Friday, December 15th, 2006 at 5:54 am and is filed under Web Industry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Comments

Dennis D. McDonald

I'll be curious to find out who has these budget dollars. As with Web 1.0 web sites, multiple departments will be involved in using social media; I can see marketing, advertising, sales, and service/support all using social media. It will also be interesting to see what the role of IT will be in these cross-functional applications of social media. (Remember IT departments, Jeremiah?)

Brian

For us, the budget for looking in to social media is a necessity for staying on the cutting edge. I don't think we look at it from a 'spend money on this or on that' perspective. It has to be done.

Robyn Tippins

It's certainly coming from the mktg dept, probably directly related to the decrease in print advertising. The bizarre social media gigs I'm being asked to do lately are a testament to how PR firms are embracing social media. The avatar thing I'm now finishing up, is surely the most fun thing I've done in a while, and that's coming from someone how claims to have the best job in the world.

Unfortunately, PR firms usually don't have a grasp on how to approach social media. (ie Sony's flog, Walmarts flog, and anything that's less than transparent).

jeremiah_owyang

I see it coming out of Marketing Depts, not so much IT depts Denis.

daniela barbosa

The New York Times article "Brands for Chattering Masses" from yesterday points to a Jupiter report that predicts that companies will double spending on brand monitoring in 2007 and i am sure a lot of that extra spending will be on social media and monitoring.
http://www.nytimes.com/2006/12/17/business/your...