Today eMarketer published an article highlighting how top brand marketers are looking to invest “big” in social media in the coming years. The article was based on a survey conducted this summer by consultancy Booz & Co. and Page management software Buddy Media.
Just how “big” are Fortune 100 companies across the globe investing in social? Two-thirds report that social media made up less than 5% of their total digital spend in 2011. In three years, a third expect that number to rise to up to 10% of budgets, 27% predict it rising to 10-20% of their budgets, and an additional 28% report it will make up more than 20% of their budgets. These companies plan to spend that increased budget on hiring employees (57%), leveraging technology vendors (48%), and investing in more social media buys (38%).
The results are no surprise if you follow Facebook news closely. In the last couple of weeks a plethora of surveys and articles have been published speaking to both how much more users are engaging on the social network — and how marketers are following that engagement with spend: Read the rest of this entry
With the hype of Facebook’s f8 developer conference behind us, with its celebrity cameos and star-studded after parties probably calling in some help for the morning clean-up, it’s now time to think of the sobering implications of how this groundbreaking update to the Facebook platform causes us to rethink our social marketing strategies going forward.
Facebook’s ‘social feedback loop’
While we’ve described tools like Timeline and the new Open Graph features in our post yesterday, the really interesting piece is how they all fit together to create a feedback loop between Open Graph Apps and the Facebook experience — one that is designed to spur social discovery and engagement.
Let’s examine this in more detail.