"While the technology and tools are there, social media is still uncharted territory for many marketers," says Chris Shipley, executive producer of Pivot Conference. "The survey results indicate that they are planning to spend money but are still looking for guidance on how to spend their budgets, how to track ROI and the best ways to engage with key customers."
Social Media Marketing Is a Small Portion of Total Budget But Spending Is Likely to Increase
Despite the relatively low cost to implement social media programs, 74% of marketers surveyed said that less than 20% of their online marketing resources, including budget and staff to manage them, were devoted to social media programs. And yet, 87% stated plans to increase their investment in social media marketing programs in the next 12 months.
Who Is the Target Customer?
75% of the marketers surveyed are targeting the "always-on" consumer, described as "hyper-connected" because of their frequency of engagement with the Internet and mobile devices.
- 36% stated that the demographic is a primary target, and 39% stated it as a secondary target.
- Survey respondents believe that 50% or more of 18-34 year old consumers are "always-on."
When asked their opinions about "always-on," 18-34 year old consumers, the majority of surveyed marketers agreed:
- When marketing programs are formatted and delivered in a way 18-34 year olds find engaging, they are susceptible to branding or re-branding. (71%)
- Their attention span for marketing/advertising is shorter than previous generations. (70%)
- They often have different motivations than previous generations, such as green or socially conscious interests. (67%)
- They have the potential to be more influential than consumers who are not always-on. (62%)
The study indicated that just over half of the marketers surveyed (57%) are seeking active engagement with customers using social media platforms. Another 30% are exploring customer involvement with caution or have not yet formalized how to engage with those customers using social media.
Where Customers Go, Marketers Follow
In keeping with the online habits of 18-34 year old consumers, the most popular Internet/mobile platforms that marketers are currently using include:
- Search engines (i.e. Google) - 89% using
- Social media sites (i.e. Facebook) – 84% using
- Micro-blogging/presence applications (i.e. Twitter) – 72% using
Emerging platforms in which marketers are planning to increase investment include:
- Mobile apps (i.e. iPhone) – 39% currently using; 42% plan to use
- Location-based services (i.e. foursquare) – 23% currently using; 35% plan to use
- In-game advertising (i.e. FarmVille) – 5% currently using; 23% plan to use
