More high-level marketers will increase their social media budgets and implement social media tracking programs, says a new report from The CMO Club. According to the report, almost two-thirds (64%) of 133 chief marketing officers surveyed intend to increase their investment and use of social media in 2010. Other findings from the study include:
• 81% of CMOs expect to direct up to 10% of their budgets to social media, up from a comparative total of 44% in 2008.
• Of those CMOs who are not currently attempting to track the impact of social media on sales, 72% will implement policies enabling them to do so in the next 12 months.
• Top metrics CMOs plan to put in play include driving site traffic (90%), page views (85%) and the number of “fans” on sites like Facebook (83%).
• 53% of respondents were unsure about the ROI offered by Twitter and 50% were unsure about ROI for LinkedIn and content like industry blogs.
• 80% of chief marketing officers are now using consumer insights generated on the Web to help “shape decision-making at the executive level.”
Source: The CMO Club