Study: B2B marketing spending on social networking sites will rise 43 percent in 2010
2010-03-18
While B2B marketing will experience only a small increase in overall spending in 2010, funds devoted to marketing on social networks will increase by more than 43.3 percent, according to a recent study released by Outsell.The reason the marketing research firm found for heightened spending on social networking-based B2B marketing is its effectiveness, according to study participants.
Of the 1,000 U.S. advertisers that participated in the Outsell study, 35 percent believed Twitter was an effective B2B marketing tool. Facebook, on the other hand, garnered positive responses from 51 percent of participants that said the website is extremely or somewhat effective.
Vice president of Outsell Chuck Richard said B2B marketing success through untraditional avenues like social networking websites were achieved because of bold moves by marketers to invest in them during a time of economic uncertainty.
"As they emerge from the recession, they're spreading their spending over a widening set of options," says Richard. "Advertisers are directing dollars toward the channels which generate the most effective branding."
LinkedIn, a social networking site that helps users gain professional contacts, also received a high rating with 45 percent saying it was effective. MySpace, however, only received 25 percent of responses confirming that it is effective for B2B marketing.
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© Brafton, Inc. 2009
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