Being an online marketer and work involved with communications, marketing teams of some of the global brands, it’s not difficult to assess where and how 1200 cr would have been spent.
As per the Business Today’s article ‘India Inc spends Rs 1,200 cr on social media‘
‘India Inc is increasing their marketing spend on it to a whopping Rs 1,200 crore, says a recent survey by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“Companies in India have gauged the might of social networking and are currently spending over Rs 1,200 crore with 30 to 40 per cent of marketing budget on digital media,” the Assocham report says. Goods and services worth about Rs 23,000 crore are traded currently through social networks across the world. And the figure is likely to swell to about Rs 1.35 lakh crore by 2015 with India’s share likely to cross Rs 10,000 crore during the course of the next three to four years, D.S. Rawat, secretary general, Assocham, said in a statement
Though these stats are encouraging, data that would be interesting to know is the bifurcation between the amounts spends on engagement, content, social crm and on advertising on the mentioned social media platforms.‘
The vital understanding of Social Media is still under evolution and marketers are mistaking it for another marketing opportunity. The crucial inbound approach is far from getting started it’s still backed by ads. What’s not inspiring the pages being promoted by offers and freebies which is backed by egoistic brand managers looking for some numbers to flash. No exception for me too!
And hence its quite evident that though the spends are quite encouraging, the ratio between community management, user engagement and the ad spends is quite staggering. Way to go…!