Companies Expect to Invest More in Social Media; Facebook Tops the List

It looks like many companies are valuing the power of social media.  As a result, they are willing to spend more money to increase their online presence.

We all want to be liked, but a majority of businesses may be willing to pay more for the distinction, a new survey by The Creative Group suggests. More than half (53 percent) of advertising and marketing executives interviewed said they expect companies to increase their investment in Facebook this year. Respondents also anticipate more marketing dollars will be channeled toward Twitter (43 percent), Google+ (41 percent), LinkedIn (38 percent) and YouTube (36 percent).

Advertising and marketing executives were asked, “Do you anticipate that companies will increase or decrease their advertising/marketing investment in the following social media sites in 2012?” Their responses*:

“Companies recognize the powerful role social media can play in brand building, and they are willing to invest in initiatives that can help them increase customer engagement,” said Donna Farrugia, executive director of The Creative Group. “As platforms like Facebook continue to evolve, it’s especially important for businesses to keep pace.”

Added Farrugia, “Although companies plan to spend more on social media, finding the talent needed to oversee these programs can pose a challenge. Bringing in freelancers who have worked on successful social media initiatives can be helpful, since these professionals can not only develop and implement strategies but also impart their expertise to core team members during the process.”