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Poll: CMOs plan to boost social media spend for 2010

By Published on .

Austin, Texas—The vast majority of top marketing executives intend to increase their budgets for social media marketing in 2010, but indicate they plan to get more rigorous in trying those expenditures to revenue goals.

According to an online survey of 133 chief marketing officers conducted by social media monitoring company Bazaarvoice, together with the CMO Club, 66% of respondents said they would boost their social media budgets next year, with about 75% saying they would attach sales goals to their social media spend.

The report characterized social media marketing in 2009 as a "trial run," with such metrics as Web site traffic, page views and social media "fan" signups as benchmarks. In 2010, however, those metrics will gain a harder edge, with 81% of CMOs setting a goal for their social marketing efforts to produce 10% of their sales.

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