Here is an interesting excerpt from Despite Recession, More Than 50% of Marketers Increase Spending on Social Media on ReadWriteWeb today relevant not only to businesses:
“In a recession, budgets are tightened, jobs are cut, and those who remain are expected to do more with less. Given this type of economic reality, it’s surprising to hear of an industry reporting an increase in spending on anything, much less on something as new as social media. Yet that’s exactly what’s occurring. According to a new Forrester Research survey of 145 global interactive marketers in both B2B and B2C companies with more than 250 employees, the use of social media as a marketing tool is on the rise. What’s more, Forrester reports that over 50% of marketers said they will be increasing their spending on social media marketing in the coming months.
Part of the reason for this increased spending is the low cost of social media tools. Compared with larger expenditures like advertising, social media requires much less investment. In fact, three-quarters of those surveyed who knew their budgets said they allowed for $100,000 or less for social media tools over a 12-month period…”