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Marketing TV: Why social spending will soar

Social spending will increase significantly in the next two years, with 20% of respondents to a new survey expecting to spend 15% to 25% of their total advertising budgets on social media, up from just under 5% who do so today.

Watch the full interview here.

A recent study by Buddy Media survey showed currently, the social media function sits in the marketing department, with 88% of respondents claiming their marketing departments are largely responsible for social media with 33% saying the task lay with corporate communications.

Of the social networks, Facebook is most utilised by marketers, followed by YouTube and Twitter, with close to 90% of respondents saying that they the medium for social marketing programmes, followed by YouTube (62%).

After its recent acquisition by Salesforce, Marketing caught up with Mike Lazerow, chief executive officer and co-founder of Buddy Media and Asia Pacific lead Ken Mandel on the plans ahead for the social media management platform and the Asia Pacific region.

Lazerow said that the business would be pretty much remain unchanged, and that the company was not announcing any new market or product launches yet. He added that he would continue leading the business globally, with no changes to the staff in any market.

As for Asia Pacific, while the company has only launched here over a year ago, Lazerow said he hopes the revenue coming out of here will be “massive” and for it to be Buddy Media’s largest region. But he doesn’t expect this will take place in the next three to five years.

Mandel spoke about a survey Buddy Media recently did, tracking social media trends in Asia, and how quickly they have caught on from the US in Asia (for instance Pinterest has taken off quickly, despite only a recent debut).

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