The spirit of social media is enlivening industries, refreshing marketing, and humanizing businesses. While the steps to the social revolution are gradual, so are the budgets that fund innovation. Progress is underway however, and with every experiment and pilot program, we learn the answers to the questions that serve as the gateways to change.
Early experiments are sparked within various forward-looking divisions and funded by other resident or surrounding programs or departments. As social media permeates and socializes the frameworks of the modern businesses, finances and supporting resources will shift to advance expansion.
A recent study conducted by Duke University and the American Marketing Association documented the rise of hiring, budgets, and social media spend over next year.
According to the 2010 CMO Survey, on average, CMOs expect to increase marketing budgets by 5.9% citing social media as a crucial slice of the Internet marketing mix.
Brian Solis is a true thought leader, one of the few people who really do blog so that they can move the debate forward (I used to try to do this but don’t have time, so I just react to things now – sad, but true). This is one of his great posts, and while I do keep hearing about how social media is going to save the world – and, frankly, don’t believe it – he places it in perspective. That perspective is: social media, whether you like it or not, is growing in importance across the board. It fits the strategies of companies over the next year, and over the next five years. If you don’t believe me, read his post. Compelling stuff.