CMOs say that social media currently accounts for 8.4% of their marketing budgets, but that social’s share of the pie will jump to 11.5% over the next 12 months, and climb all the way to 21.6% share in the next 5 years, according to [PDF] findings from Duke University’s Fuqua School of Business, which just released its latest CMO Survey. The forecast may be over-aggressive, though: last year, CMOs predicted that social would grab 10.8% share of budgets by this point, with the reported share this year (8.4%) about 20% below that mark. Nevertheless, budgets are definitely on the increase: the 8.4% share noted in this survey is up more than 10% from 7.6% in August 2012, and is also up from 7.4% in February of last year. Read the rest at MarketingCharts.
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