Spending on Social Media & Online PR to Grow in 2010

A recent report published by E-Consultancy and BigMouth Media reveals that marketers are planning to invest more in social media during 2010. According to the report, 86% of the companies surveyed plan to spend more money on social media in 2010 than they did in 2009, and a further 13% are planning to maintain the same level of spending.

The survey researched the online PR tactics and social media practices of 1,100 companies and agencies. Respondents stated that, although their social media and online PR activities will grow, the time and resources needed to manage these activities is significant. The largest barrier to better social media engagement for companies surveyed is a lack of resources, with more than half of companies (54%) citing this as a significant problem. Some 90% of businesses said that social media is taking up more time internally than it did in 2008.

The research found that many companies are experimenting with social media without yet reaping any measurable benefits. Only 25% of companies said that they have gained 'real, tangible value' from social media, while 60% said that they have gained 'some benefit, but nothing concrete'.

The full report can be downloaded from E-Consultancy's web site - econsultancy.com