With membership surging at social media sites such as Facebook and Google+, brands are willing to spend more money on these platforms to engage prospective consumers. According to a new survey from the Direct Marketing Association, businesses plan to allocate the biggest portions of their marketing budgets to social media.
Marketers were asked how much more they were spending on different channels this year compared to last year. On a scale of one to five, social media scored a 4.1, indicating that expenditures on the channel are significantly higher compared to the same time last year. Brands aren't limited to creating social content for their profiles either – they are also developing specific social apps and investing in display advertisements.
Other top areas of spend include search (paid and SEO – 3.9), mobile (3.8) and email (3.5). In general, companies seem to be shifting their budgets toward digital marketing platforms as opposed to traditional advertising channels, such as direct mail (2.9), insert media (3.0) and direct response print (3.0).
The DMA's survey supports a separate report from MarketingSherpa, which noted a similar focus on SEO and email marketing this year. Brafton reported 12 and 11 percent of B2B marketing budgets are devoted to these two channels, respectively, highlighting their importance when it comes to reaching new and existing customers.
