SOCIAL MEDIA NEWS: Increased budgets and social media confusion in B2B
B2B marketers remain confused about social media and expect revenues and budgets to increase in the coming 12 months. This is according to research carried out by Circle Research and supported by ABBA and the IDM.
The B2B Barometer, third in a series of surveys, has revealed 86 per cent of marketers insist social media spend will increase over the next year while only 28 per cent admitted to having a strategy in place.
Overall, budgets look set to rise - only 27 per cent of respondents indicated a decline in their budgets over the coming year. Email was cited as the area where most of the marketing budget would be spent, followed by website development. Trade shows have decreased in popularity over the last year, with 16 per cent of the budget being allocated to them last year compared to only 11 per cent for the next 12 months.
The survey also revealed that the majority of respondents were confident in the Government's ability to manage the economy, demonstrating a more secure feeling about the stability of the future. In addition 67 per cent of marketers felt confident about their companies' outlook for the future.
The survey, designed to demonstrate how B2B companies are reacting to the changing market, was completed by 120 B2B marketers and agencies. The full results are available here.