Spending on social media and “conversational marketing” – albeit still in their nascent stage – will surpass traditional marketing spend by the end of 2012, according to a study conducted by TWI Surveys, Inc., the New Communications Review writes.
Although social-media adoption has just begun – 70% of respondents are spending 2.5% or less of their communications budgets on conversational marketing – those surveyed foresee significant adoption and spending within five years: Some 81% of survey respondents said they will spend at least as much on conversational marketing as traditional marketing by 2012.
Among other findings of the study:
- Two-thirds of respondents plan to increase their spending on coversational marketing in the next 12 months.
- 57% say they think that in five years they will be spending more on conversational marketing than traditional marketing
- Nearly 24% say they think conversational marketing spend will equal traditional marketing spend in five years
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