Social Budgets Stayed Constant in 2013
Social Media Spending Focuses on Enabling a Social Business
Social media investments are distributed across all aspects of social business enablement, with companies mostly planning to increase spending on social media management systems (SMMS) to help scale engagement (see Figure 15). The second area is spending on training and education as organizations seek to educate those outside of the core social media teams on how to integrate social into everyday processes.
Figure 15: In 2013, Nearly Half of Social Strategists Planned to Increase Spending on Social Media Management Systems and Internal Training and Education
In 2013, there was little movement in social budgets from the previous year (see Figure 13). Nearly half of companies’ social budgets are less than $100K or between $100K to $500K. Within those budgets, the highest technology spend was for listening/monitoring platforms, followed closely by analytics and community platforms (see Figure 14).
Figure 13: Social Budgets Stayed Constant in 2013
Figure 14: Listening/Monitoring, Analytics, and Community Platforms Are the Biggest Social Technology Spends in 2013
Listening/monitoring platforms$62,000Analytics platforms$54,600Community platforms$51,900Social media management systems$34,700Enterprise social networks$29,400Social CRM$14,800More than $5 million2013 Projection$100,000 to < $500,000Less than $100,000$500,000 to < $1 million$1 million to < $5 million201226% 34% 25% 23% 6% 4% 11% 9% 5% 5% Social media management systems(Hootsuite, Spredfast, Sprinklr) Training and education(workshop, conferences, webinars) Custom technology development or data integration servicesSocial appdevelopmentListening/monitoring platforms (Radian6, Scout Labs, Crimson Hexagon, NetBase) External agency to support engagement(e.g., moderate Facebook page) Analytics platforms (Webtrends, Omniture, Coremetrics) Community platforms (Lithium, Jive, Get Satisfaction) Blogger/Influencer networks (Federated Media, NetShelter, BlogHer) Enterprise social network (Yammer, Chatter) Social CRM47% 47% 45% 43% 43% 38% 37% 33% 25% 23% 22%