Social Media Marketing Spending Report Breakdown

Social Media Marketing by the NumbersCheck out this really interesting information graphic that was posted just recently that visually describes how social media spending has been distributed in 2010. Some very compelling and interesting figures that we think will open some eyes and raise some eyebrows. Read on to get our take on the break down and what this will mean for your business in 2010.
Social Media Platform Marketing Spending 2010 Infographic

Thanks to CreditLoan for creating this infographic and to Hubspot for posting this.

So what surprises/shocks me the most about the information above? Two things:

  1. Over HALF of all the money spent on social media marketing was put into Facebook! First of all, that is a lot of money, and second of all I was shocked to see how little of the pie Twitter had and how much of it MySpace still is holding onto (although if the 43% layoffs they just underwent last week is any indication I can only see that number getting smaller). It’s amazing to see how quickly location based social media marketing is developing as a viable marketing channel. Those services have only been around a little more than a year and already share the same financial spend rate as Twitter who has been around a lot longer. Definitely speaks to the vehicle and the relevant application for marketing programs. Twitter is still struggling with this, their sponsored tweets idea has not really taken off. Location based services like FourSquare and Gowalla offer direct feedback and promotional tracking opportunities with coupon systems that brick and mortar businesses can pick up and start using right away.
  2. Check out the percentage of fortune 100 companies that have Twitter accounts, Facebook Pages, and even YouTube Channels but NOT a Corporate Blog. I wonder where these companies are sending people from all of these social media outlets? Of course you don’t need to have a Corporate Blog to be successful in social media marketing. I am definitely NOT saying that. A “Corporate Blog” can take a lot of different shapes these days and with the continued advancements in WordPress and other open source CMS platforms it is becoming increasingly easy for companies to rebuild and manage their entire website as a “Blog” which works just fine by today’s online marketing and digital connection standards. I personally don’t like to use the term “blog” because it conjures up all sorts of perceptions for clients. At the end of the day what is a blog anyway? Just a collection of well organized information that I can search, connect and share. Sounds like any decent website to me.

What’s the point here?

Social media is obviously here to stay. The key for any business moving into 2011 is to have a strong grasp of your opportunities within these spaces. Then one needs understand what kind of resources, tracking, and measurement you will need to make them a continued successful addition to your more traditional marketing activities. If you are not sure how to get started let us know, we have a form you can fill out or you can pick up the phone and dial 603-924-1978. We would love to sit down and discuss your untapped social media marketing potential.

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