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RSSThat finding is significant, because it shows the rapid speed with which social media, including social networks like Facebook, micro-blogging services such as Twitter, and other new and emerging formats connecting people to each other online have taken a precedent with both consumers and marketing and advertising industry professionals. It also comes only a few months after Madison Avenue's de facto bean counter, Interpublic forecaster Brian Wieser, conducted a lengthy research and soul-searching process concluding that social media is not a form of advertising, consequently leading him to omit it from Interpublic's official ad spending forecasts.
"We expect that the data and insights in the study can assist agencies and other media planners and buyers to make the case for particular media spending next year," said Chuck Martin, Director of the Center for Media Research, which is a unit of MediaPost Communications that publishes the daily Research Brief newsletter and a variety of research reports aimed at marketers and advertising agency media planning and buying professionals.
The base for the new report is a survey of 1,972 MediaPost subscribers conducted between July 17 and Aug. 10, 1,164 of whom said they have "planning, buying or approving responsibility" for their organization's 2010 media plans.
Interestingly, "non-traditional" media such as online, mobile and other emerging media platforms, slightly outweigh the "traditional" media (TV, radio, print and out-of-home) plans among these respondents for 2010: 57% to 43%.
The study also asked respondents to distinguish between what they "realistically" intend to buy in 2010 vs. what they would ideally like to buy, and found that digital and emerging media are the most likely forms to be on their 2010 budgets.
Email marketing was the No. 1 medium, cited by 56.8% of respondents as being a realistic part of their 2010 media plans, followed by social networks (56.3%), keyword search (49.7%), radio (42.2%), magazines (42.1%), online display (40.5%), event sponsorship (36.9%), rich media display (35.5%), direct mail (34.7%), regional TV (32.8%), regional newspapers (31.7%), out-of-home (31.2%), email sponsorship (29.5%), online video (26.7%), mobile SMS text (26.1%), and others. Interestingly, national TV (18.2%) and national newspapers (14.8%), ranked near the bottom of these respondents' realistic 2010 media buying plans.
The report also delineates the differences among respondents based on their job functions, titles, whether they are agency or brand marketing executives, and the degree to which they are responsible for traditional or non-traditional media. It also breaks down the differences between their realistic and idealistic buying expectations and provides an index on the relationship of those plans.
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I am not sure how one conceives of "buying" social media anyway. Perhaps my perception is wrong, only the details of the study will show. But my guess is that most of the media buyers answering "ideally" would buy are still having a hard time transitioning from the days of great TV ratings and the pipe dream of multi-media optimizers.
The economy, is a big factor to the growing trend of social networking sites.
People are begining to see the use of these social sites with interacting and peddling their ideas. O'Kevin touch on this "word of mouth marketing" Many big marketing companies are focusing, their energies and money into social websites. People have more time on their hand now with the downturn of the job market in the western countries.
So look out, the new frontier of making money online is in the social networking sites!
If a global media behemoth like Interpublic's Brian Wieser looks at it long and hard and deems it NOT advertising-appropriate (it is PR: http://tinyurl.com/change-marketing ), then the rest of us can be fairly confident that it's not something marketers should be shifting millions of dollars into just because "social media" haa become a hot Twitter topic. Let's hope the more strategic-thinking CMO's out there manage to ignore the hype trickling up from their excitable and easily-influenced Brand Managers.
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