How much does it cost or how much do I need to spend? Is it worth it?
When you get into these discussions it is always good to begin by looking at the bigger picture.
When you compare the spending on social media marketing from August 2009 to February 2010, overall there’s an increase of 60% in the budgets (from 3.5% to 5.6%). Similarly, the planning for the next one to five years shows a similar level of consideration as well: in August 2009, social media spending was thought to be 6.1% for the next year and 13.7% for the next five years; and now, it’s more like 9.9% in the next year and 17.7% in the next five years.
Social Media is here to stay and it’s growing. It’s big today and will be an even bigger player in the competition for customers tomorrow. Your automotive ad agency should be able to help you through this process. In my opinion it’s a small budget number to make a huge impact.
Let me know what percent of your budget you’re putting toward social media.