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B2B Spending on Social Media to Explode

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B2B Spending on Social Media to Explode

Outsell estimates that marketing on social networks will grow 43.3% in 2010. Forrester Research predicts that B2B firms will spend $54 million on social media marketing in 2014, up from just $11 million in 2009.

Paid advertising on social networks—banners, text ads and search advertising, as well as the more targeted advertising being deployed by Facebook and MySpace—is a small portion of B2B marketers’ social spending.

When companies budget for social media marketing in 2010 and beyond, a substantial portion of their expenses will go toward other initiatives, such as creating and maintaining a branded profile page, managing promotions or public relations outreach within a social network, and measuring the effect of a social network presence on brand health and sales.

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