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One question I frequently get is "How much should I be spending on social media?" The answer, of course, is it depends. This report looks at how 140 Social Strategists spent on social media in 2010 -- and their plans for 2011 (read report). From this deep data, my co-author, Jeremiah Owyang, and I, found that maturity levels are a key driver of social technology adoption, and hence, social spending. (Jeremiah also wrote a detailed post about the report). I *love* data, so this was a particular fun and satisfying report to work on with the team (special thanks to Christine Tran and Andrew Jones for being our data gurus).
I've included several key charts and points, as well as the report below. But here are a few key takeaways:
The chart below shows the three different types of maturity levels (take a quick quiz to determine your maturity level), and how the average budget, team size, and also the way they are organized differs. The report has a great deal more detail on how adoption and thus spending differs by maturity.
We looked in greater detail at 12 spending categories in three areas: 1) Internal soft costs (staff, R&D, training); 2) Customer-facing initiatives; and 3) Technology investments. The graphic below shows the average spend for each of these categories, for those people who have adopted them. The story is nuanced because not every company is spending in areas like SCRM or community platforms.
This begs the question then, of what you need to do to prioritize in your budget, and thus your social strategy. We developed specific priorities and recommendations for each maturity level, summarized conveniently in the graphic below. Mashable also has a great write-up of the recommendations from the report.
Below is the report, followed by some key charts and findings:
One question I frequently get is “How much should I be spending on social media?” The answer, of course, is it depends. This report looks at how 140 Social Strategists spent on social media in 2010 — and their plans for 2011 (read report).