Saturday, 13 February 2010

IAB SOCIAL MEDIA COUNCIL RESEARCH SHOWS BUDGETS SET TO INCREASE

One of the first things we have issued this year, at the Internet Advertising Bureau's Social Media Council, is some research into social media's progress. We are hoping to see it become an index, and a barometer of social media's progress in the UK.

The study, conducted in partnership with research company Opinion Matters, found that:
  • Social media will be getting greater budget allocations this year
  • Responsibility for social media within client organisations spans a number of departments, suggesting a need for ‘social media teams’ representing a range of skillsets such as marketing, PR and customer service
  • Driving brand awareness and consideration are the most popular uses of social media
  • Marketers identify the main challenges for social media as measurement and proving ROI
There was lost of great stuff in the research, but the most interesting stat for me was that a third of advertisers are planning to allocate between 6 and 20% of their digital marketing budgets on social media in 2010, compared with just 14% in 2009.

The study - conducted amongst 80 senior level marketers – found that only 7% of respondents yet haven’t embraced social media in any way, with 22% having made it a core part of their communications strategy, 20% feeding it into most campaigns, 23.5% using social media in ad hoc projects and 27% having tested it with a view to using again.

The chart below illustraes this progress
This means that:

1. Digital is eating into traditional media budgets
2. Social media is eating into traditional digital budgets
3. Social media consequently becomes ubiquitous and consumes traditional media

Social media is the revolution within the revolution.

There's a great summary of the research at the IAB.

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