According to Duke University’s Fuqua School of Business’ August 2012 CMO survey, big increases in social media spending are on the horizon.
Chief Marketing Officers (CMO) that were surveyed projected big increases in their budget spend over the next five years. Currently, social media accounts for 7.6% of their total marketing spend. Over the next year, a 40% increase is expected and that percentage is expected to skyrocket to nearly 20% in the next five years.
Business to Business Firms Spend Even More on Social Media
Contrary to popular belief, firms that specialize in B to B sales tend to spend significantly more on social media. In these firms social media accounts for 9.4% of their existing marketing spend, up 2% from just six months ago!
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