It's a recession, and a lot of companies are looking to cut back on Marketing spend. However, a new Forrester study says that, even in this economy, more than 50% of companies are increasing their spend on social media. This makes a lot of sense. Social media is fairly cheap to invest in and provides inexpensive content for your site. And, in a good scenario, it can create an ongoing content creation machine that can power your site far more cheaply and effectively than paid media.
In the local space, many of the traditional YP companies have been slow to adopt social media (in fact, some might say they haven't adopted it at all, with the exception of Reviews and Social Bookmarking). Instead, they are allowing insurgents like Yelp and Angie's List to take the lead on that, and as a result, those companies are gaining quickly. YP companies, and others in the local space who have yet to adopt social media, must look on it as an integral part of their content and traffic strategies and move forward now, not just integrating reviews, but other basic social features, such Commenting, Topic Forums, Local Content creation and more. If not, the Yelps of the world will no longer be the insurgents, they'll be the incumbents.
Despite Recession, More Than 50% of Marketers Increase Spending on Social Media - ReadWriteWeb
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