Marketing budgets for social media on the rise

The use of social networking to generate new business has been underlined by a survey from serviced office provider Regus, which has found that 40 per cent of businesses now actively use web-based communities to win customers.

27 per cent of global companies said they have allocated budget specifically for improving their presence and activity on social networking sites, and 51 per cent organise or connect to customer groups.

Not all are convinced however, with 34 per cent believing that social networks will never be a significant method for contacting customers and prospects, but William Willems, vice president at Regus insisted the results are encouraging.

“Although there is a hardcore of sceptics globally, who do not believe that social networks will become a significant method of reaching customers and prospects," he said, "a significant proportion of firms are devoting real marketing budgets through the medium to acquire new customers and keep existing ones.â€

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