An interesting report, “The ROI on Social Media Marketing”, from the Aberdeen Group today found that 63% of the companies in their survey (defined as best-in-class) planned to increase their social media marketing budgets this year.  The executive summary from the report states:

“The global economic recession has put more pressure than ever on chief marketing officers and other senior marketing practitioners to minimize marketing waste and maximize Return on Marketing Investment (ROMI). How can marketers trapped in a vortex of plunging consumer demand and growing budgetary constraints that have made it necessary to curtail or completely eliminate investments in traditional marketing channels and programs hope to attract, retain and increase the value of profitable customers? Aberdeen research indicates that at least part of the answer lies in harnessing the power of social media marketing to drive customer advocacy.”

As emarketer points out in their related article, “Companies are learning how to leverage social media and tap into the rising tide of consumers participating in social network sites, blogs, wikis and Twitter.”   We’re seeing this here at Votigo as well.  Our clients are increasingly using Twitter to supplement their promotion.  I like how the Mo Project Contest is utilizing their Twitter stream on their contest landing page to give updates on the project.  And running a contest on Facebook is an excellent way to engage consumers where they already are.  And for any social network or blog our Contest Widget is extremely easy to integrate and share.

Let us know what you think.

-Jim

This entry was posted on Monday, March 23rd, 2009 at 5:07 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.