Yes, that's a bold statement, but it's according to new findings be Equation Research in their 2009 Marketing Industry Trends report which was just recently released. Online video laid some smack down on most other forms of social media marketing in regards to usage.
Want to know more? Well you know the deal, Clicky clicky and get the 411 on how your industry is doing.
Alright, all joking aside, Equation Research, a different kind of research company and gives us all some alternatives to the major research houses (Nielsen, comScore, etc), just put out their 2009 Marketing Industry Trends Report and looked a how both brands and agencies are using social media in their marketing efforts. What did they find out?
Well first that the majority, 59%, are using it. Secondly, that another 21% are looking to begin doing so in the next 3-12 months. But that's not what you came to see is it? Fine, here's the main attraction for you online video types:
Online video usage topped all but Facebook Pages
Online video usage topped all but Facebook Pages in regards to percentage who are using it. Can I get a Hell yeah!? Check out this cool graph that I lifted from the report (sorry ER...) and. Hey wait, that's not the right chart. (It's called suspense building you see...) This is the channels with most promise for the future according to the survey. I guess we have to talk about that first. As you can see from the chart (I hope) Online Advertising and Social Media will be blazing the way forward. Sure some people (all in companies of less than 50 employees I might add) believe that email marketing and PR are the way to go. Those less than 50 person companies are probably, yep you guessed it, email marketer and PR people/agencies. Meanwhile, just as many people believe that Online Advertising and Social Media are the way to go for the future. When you start getting into the larger companies, probably brands and not agencies or consultants mostly, you see the numbers drift even higher. 19% and up to a full quarter of large (500+ employee) firms believe that Social Media is the future. Hallelujah! Well at least for those of us in that sort of business...have I mentioned R2 Relations, my new project, lately? Yes, a totally shameless plug there. Self-promotion is not evil, is it? Sorry Mark, couldnt' resist, plus, it's Friday (updated from Mark - "CHRISTOPHOR CORNELIUS RICK - Shame on you")!
The big losers on that chart? Radio, Outdoor, Mobile, Print and...TV. Well TV is hanging in there for the 500+ club but everyone else sees it as not the future. Even events aren't see as such a great option moving forward. Online advertising and Social Media are the future indeed, now where did I put my shades.
OK, OK, I'll get on with it. Here's the other chart. I promised ER I wouldn't give it all away so this is the last one you get. Go get the report from them if you want to see more pretty charts and graphs.
Now, as you can see from this chart, Online Video squashed the competition, except for Facebook pages for some reason. Those wily folks over at Facebook are leading the social media marketing onslaught (we make pretty cool ones over at R Squared you know...).
Online video comes in a close second with 68% of respondents in firms with 50 or less employees using it. Did you guys stuff the ballot box on this one or what? 52% of the midlands are using it (that's 50-500 employees per firm) and a cool 65% of the big boys in the 500+ club are using it. Now can I get a Hell Yeah?!
Facebook Pages did smite the competition with a full 89% usage level and even 60 and 67% in the other sizes respectively. Yes, I said smite, deal with it. Online video is technically third in the midlands behind Twitter, but hey, only by 4% . It's also tied for third in the 500+ club behind those illustrious cohorts Facebook and Twitter (Online video tied with Blogs for those too lazy to click the image).
Considering that online video is still somewhat in its infancy and many of us agree that we still need some work to help make it work better for us, I think these numbers are quite good. Myspace and widgets seem to be things of the past falling to the wayside along with user forums and myspace groups. Sure the 500+ firms are still on the fence about some of these (with usage ranging 30-45%) but it could just be a dinosaur-like slow movement thing.
There was one more interesting thing in the report, well, that I'm going to write about anyway, go get the report from Equation Research if you want all the juicy bits (no it's not like chug points. I don't get money for every time I say their name, but that's not a bad idea, I'll look into that).
Marketing Spending Allocation
Sorry, no cool graph this time. Well there is one, but you have to go and...well you know. While Print topped the charts and TV came in second 20 and 19% respectively, the online channels did quite well in the overall category. Online advertising should be taking up about 14% of budgets in the near future, topping tradeshows and PR I might add (is that a large asteroid headed for PR Planet?). Just below all of that Social Media should be hauling in about 8% (the majority of the online advertising budgets one would imagine) but it was just beat out by its sibling, Search Engine Advertising who garnered a proper 10%.
Tiny companies seem to be leading the move online as they are putting more of their budgets into it than the others and the same applies to Search Engine Ads and Social Media. So it really seems like Social Media is becoming the SMB marketing choice and online video is hanging in the front of the pack.
Alright, we're done here. Go pack the kids in the car, the cooler with ice, food and drink and head off to the ballpark, I'm calling it a week!