Social Media B2B

In a post from eMarketer, according to the The CMO Survey from Duke University’s Fuqua School of Business and the American Marketing Association (AMA), social media budgets of both B2B and B2C marketers are rising across the board, and will continue to do so in the next five years. There is no surprise in this, as marketers are changing their mix for 2010 and looking for more lower cost options to get their messages across. Social media spending is expected to rise, according to those surveyed, to nearly 20% of their budgets.

The survey breaks out categories of B2B and B2C marketing into products and services, and finds that B2B social media marketing for services is on par with marketing for all consumer products and services. Social media for B2B products spending is less than anything else and will continue to be for the next five years.

The post continues to say that social media aligns well with B2B marketing goals with its focus on building customer relationships and brand awareness.

Look for us to begin reviewing and publishing our survey data of SocialMediaB2B.com readers soon, which also confirms a general increase in social media spending in 2010. Has social media become a bigger part of your marketing budget in 2010?

Jeffrey L. Cohen is the Managing Editor of SocialMediaB2B.com. Follow Jeff on Twitter at @jeffreylcohen.