2010 Social Media Marketing Budgets Soar Despite Downturn

In Marketing Sherpa’s latest study they found that social media marketing budgets are taking a massive leap in 2010 while traditional budgets continue to go down.

While they don’t make any concrete conclusions about why this is, we have certainly seen that SMM campaigns generate significant return on investment and return on effort for businesses of all sizes. Despite all the arguments of great ROI, customer loyalty and engagement, I have a simpler reason: everyone was taking the wait and see approach just like they did with the web, and then finally the CEO walked in and said;

“One of our board members just alerted me to the fact that we’re not even on Twitter yet. I think this stuff might be here to stay, let’s get on with it. Didn’t Obama win the election with this stuff??”

Wait and see quickly turned into “time to catch-up!”