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I have no doubt that year 2010 will always be remembered as a “defining moment” in the history of social media. Having said that, I strongly believe that year 2011 will see businesses push the social media pedal harder to gain an advantage over their competitors.
My optimism on social media is echoed by the findings of a recent study by StrongMail which indicates that Email and Social Media are expected to further strengthen their position as top tactics for marketers in 2011 and are likely to see an increased budget spending from businesses in the coming year.
StrongMail Survey
Amongst the StrongMail survey respondents, nearly two-thirds of companies will increase spending on email marketing, and 57% will put more dollars toward social media marketing. Search ranks third with an impressive 41% share but it no longer the only top priority for businesses. The recent smartphone explosion has meant that mobile is gradually emerging as another powerful marketing channel with nearly one in three companies opting for it.
Overall, businesses are expected to loosen their wallets for increased spending on email marketing and social media.
Challenges
While the StrongMail survey paints a bright picture for the future of social media in 2011, it also points out the key challenges for businesses adopting social media – lack of resources and staff. I’ve often said that social media isn’t a shortcut to success for businesses. It requires commitment and comes at a cost. However, considering the quick and handsome returns offered by social media, it’s worth the effort dealing with these challenges.
Email and Social Media
I’m glad that email and social media are no longer seen as an “either/ or” proposition by businesses. Each has its own merits and pitfalls and substituting one for the either is like picking apples for oranges. The survey suggests that Email and social will continue to get closer as more marketers integrate the two channels with each other. Nearly 28% of respondents said they had already formulated and implemented a strategy for making email and social work together, and another 43% plan to make efforts toward integration in 2011.
I expect Facebook’s Social Inbox to be an early gainer in the email/ social media collaborative space.
Not Just Blatant Predictions
I’d agree that there is no shortage of such optimistic and social-media friendly surveys and studies. While some of these represent are accurate, there are a few that present bloated figures and sound overly optimistic.
As a social media loyalist and an avid email marketer, I know that it’s difficult to convince businesses to explore social media merely based on these surveys. Thankfully, social media isn’t merely a theoretical proposition in the business world anymore. There are thousands of social media success stories around the globe and several million in the making.
What are your business plans for year 2011? How are you going to decide your social media budget for next year? Please share your opinion by leaving a comment below this post.
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