Prioritizing Social Business Budgets

Posted by Mon,Feb 14, 2011 @ 09:00 AM

Altimeter Group surveyed 140 buyers of social business services and technology at corporations with more than 1000 employees (enterprise-class). The attached presentation summarizes the challenges these buyers (Social Strategists) face and offers a guide on how to spend their budgets.

The average social business budget at enterprise-class corporations was only $833,000. While that is a tiny fraction of overall spending, Social Strategists are faced with increasing demands, and so, they need to be precise with their spending.

The survey identified 12 social business categories and suggests that corporate spending be based on the maturity level of their social business. Novice level corporations should concentrate on organizing their internal teams. Intermediate level social business programs should scale their customer-facing initiatives. Advanced programs should integrate social business throughout the enterprise.

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Tags: Social Media Marketing, strategic marketing planning, B2B Marketing

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