Social media spending is expected to climb to a 20.9 percent share of marketing budgets in the next five years. This share was only 5.6 percent in 2009. What is striking, however, is that only 3.4 percent of marketing leaders report that social media contributes very highly to firm performance; 40 percent report a below average contribution (see insert).
These are among the latest findings from The CMO Survey. Conducted biannually since August 2008, the latest edition received responses from 289 top marketing executives.
What explains this social media spend-impact disconnect?