Updated November 24
While preparing for today’s webcast on digital marketing and lessons learned from the publishing indusry, we discovered the August 2009 CMO survey conducted by professor Christine Moorman at Duke University’s Fuqua School of Business, with support from the American Marketing Association. Moorman’s results include insights into expectations about the role of social media in digital marketing.
The 511 top marketing executives of US companies interviewed in late July expect to increase spending on social media efforts by more than 300% over the next five years, moving budget allocations from 3.5% to 13.7%.
Top investments are pegged for social networking (65%), video and photosharing (52%), and blogging (50%).
The five most frequently projected uses for social media applications are brand building, customer acquisition, new product introductions, customer retention, and market research.
Read thefor details on the research and links to full results. and lessons learned from publishers.
Update: The webinar recording is available here.