I’ve had two particular conversations with big, big B2B tech brands in recent weeks where I’ve heard the same thing. That their social media budget is now greater than their product marketing budget, both in people and resources. And in one of those companies their social media budget was next to zero just two years ago.
Is it that they’re now seeing the early benefit of their social outreach and so investing more? Are they mapping their customer’s buying behavior and seeing those customers’ migration to social channels? Or is it that they’re just following the current trend towards social, regardless of the RoI? After all, the recent Mckinsey report stressed the prevalence of the ‘herd mentality’ in many marketing depts. these days.