Australian Business Dedicating More Budget to Social Media
A new Australian study, commissioned by social business software and community engagement solutions company Community Engine and run by research company Nielsen, investigates how businesses use, measure and budget for social media. The survey was conducted in April 2011 from a sample of 417 respondents, of which 83 were businesses in the private sector employing 100 or more staff.
Awareness of the importance of Social Media has been growing in recent years with many businesses allocating part of their marketing budget towards this tool however according to the Nielsen-Community Engine 2011 Social Media Business Benchmarking Study, 44 per cent of participating businesses actually expanded their marketing budgets in 2011 to fund a social media strategy.
Another key finding of the survey was a shift from using social media for branding to using it for customer relationships. This suggests a maturing of how of businesses perceive the role social media plays and how to use it as a communications tool rather than another form of advertising.
Some 43% of businesses see social media as a way to build a relationship with customers and stakeholders, with only 33% viewing it as a branding tool, down from 61% in 2009.
For more information see http://www.computerworld.com.au/article/386926/social_media_shares_more_marketing_budget_survey/