The simple message coming from research into the habits of businesses in a recession is that a recession is NOT the time to cut your marketing budget. In some instances increasing your marketing activity during a recession can actually edge out the competition.
Social Media budgets are one of the first to be increased, namely because they are normally the cheapest. New research suggests that 53% of marketers aim to increase their social media budget in 2009.
These tools, properly managed, can have a rapid and measurable word of mouth result for your product or service. A word of warning: social media tools have passed the experimental phase and are now a legitimate marketing channel, so make sure you have a strategy in place to manage and track your results.
More on Social Media Strategy:
- Get started with your Social Media strategy
- Podcast on implementing a Corporate Social Media strategy
- Internet Marketing Trends in 2009
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