Forrester Research released a report which suggests that more than 50% of interactive marketers will increase their spending on social marketing since these inexpensive tools can quickly get marketing messages out through interactive discussion and rapid word of mouth and when properly managed, can deliver measurable results. Also it seems that the tough economy will be the catalyst for more spending on social media marketing.

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Whattay say guys?

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Highlights of the report as quoted by Jeremiah Owyang are as follows:

  • 53% of interactive marketers expect their budgets for social media marketing to increase as a response to the recession.
  • Social media budgets remain minuscule compared to the rest of interactive marketing. Three-quarters of marketers say their social media spend is $100,000 or less over 12 months.
  • Social media is not yet a marketing line item. 45-percent of marketers say their social budgets are determined as needed and 23-percent say they scrape together funds from wherever they can find them.
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Key takeaway as quoted by Jeremiah is:

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Social media budgets are small, but are growing during a recession, yet brands shouldn’t approach this as an experiment, and should have a proper strategy complete with objectives, roles, processes, and measurement.

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This made me wonder about few of the brands and social media agencies I’ve interacted which clearly shows the trends. It’s true that social media marketing can give that extra bit of mileage in terms of interacting with the audience but thinking from the grassroots level in Indian perspective few things that I’ve heard from traditional marketers which really shows that we have a long way to go:

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1. Is Social Media Marketing a tool or a platform which marketers can use to blow their horn?

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2. Is it technology oriented or pure Marketing play?

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3. Should be it left for the agencies to handle it or companies should have a in-house team to carry on the process since such activities are directly touching the customers?

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What are you thoughts guys? Do you think agencies, Digital Marketers or Social Media Marketers have played their cards really well to pitch in SMM?

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