Wednesday, 03, Feb 2010 10:40
UK businesses intend to spend more on social media campaigns this year than they did in 2009, according to a new report.
Research conducted by Opinion Matters for the Internet Advertising Bureau (IAB) indicates that one-third of brands are looking to spend between six and 20 per cent of their digital budgets on the medium in 2010.
This is compared with marketers spending 14 per cent of their online funds on social networking in 2009.
Businesses making use of Web 2.0 were found to be most likely to be utilising Twitter and social media monitoring services.
However, three-quarters of respondents said they believed proving return on investment (ROI) would be the most significant challenge for the social media sector this year.
Tony Effik, chair of the IAB's social media council, remarked: "The research highlights some of challenges we have, such as ensuring clarity of new social concepts, such as crowdsourcing, and in ensuring that ROI, and accountability in general are essential in the drive for growth."
Last September, figures produced by the IAB in conjunction with PricewaterhouseCoopers and the World Advertising Research Centre showed that the web is now the biggest advertising medium in the UK.
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