Marketing Budgets of the Future

The other day I read a blog article that said by 2012, the non-profit sector will spend more on social media than traditional marketing. I was ecstatic at such a sound-byte. It’s great news that organizations are putting a focus on embracing social media as they have traditional ‘industrial media’ in the past (mail-outs, radio, etc). But my finance brain begs me to pause and say… How do they plan to spend that money?

A defining feature of social media is its accessibly to all regardless of budget. Blogs, twitter accounts, direct emails and the like are free. A newspaper ad with a comparable level of effectiveness requires the same investment of time, but requires an expensive outpouring of cash. It frustrates me to think that a great deal of non-profits will be looking to spend money on social media, and will be instead spending it on consultants, training seminars, and the like. Social media is simply an investment of time to engage with supports, to listen and to involve.

And so, as a word of caution from a finance brain in the social media realm: you don’t need to budget marketing dollars on social media for it to have amazing returns, but do budget time.

And preferably before 2012.


Benjamin