A recent research survey by Covario, reported by the Centre for Media Research showed the following – – –
|How Social Media Programs Are Financed Within Organization|
|Funding Through||% of Respondents|
|Stand alone social media budget||38%|
|Search budget, paid or organic||34|
|Source: Covario,Inc, October 2011|
What this is saying is that 66% of social media activity is funded from other than social media budgets.
Our message to clients is – remember you have a limited marketing budget and you need to prioritise it. Allocate your budget to the marketing activity you can least do without – make a list.
For smaller hotels in particular, taking funds especially from search budgets to fund social media could be potentially disastrous. For social media activity needs to earn and justify its own budget, not be subsidised by reducing spend on other (and probably far more important) marketing activity.