Report: Brands open their wallets for social media

01/29/2013 | New York Times (tiered subscription model), The

Nine out of 10 brands are using free social media products such as Twitter and Facebook -- and a growing number are willing to spend serious sums to bolster their campaigns on the platforms, according to a Nielsen and Vizu report. Seven out of 10 brands earmark up to 10% of their marketing budgets for social media ads and content generation, while 13% dedicate a fifth or more of their spending. "Advertisers are starting to look at social media as an integrated part of their advertising strategy," says Nielsen's Jeff Smith.

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