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You Spend What On Social Media?

Posted on 5.29.2008
Strategy and research group Forum One Networks found in a recent study that 33% of those olled indicated that their online community and social media budget is $100K to over a million dollars. Of that 33%, 1/3 claimed budgets of over one million dollars.
 "Companies are allocating sizable budgets to online community and social media efforts because they know there is value that may not be measured by standard ROI metrics alone," stated Bill Johnston, chief community officer of Forum One Networks.
 Perhaps the most interesting finding is that, while 47% of the respondents could tie at least some revenue to their online communities and social media activities, many online community and social media people are tasked with developing new metrics that are customized for social media ROI.
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