According to the results of survey carried out on Australian businesses, 75 per cent of SMEs spend 10 per cent of their marketing budgets on social media marketing.

The survey carried out by an Australian search marketing company found that nearly three-quarters of businesses allocated the spend on social sites such as Facebook and Twitter.

The results of the Neilsen-Community Engine 2011 Social Media Business Benchmarking Study comes just days after it was announced that Australian banks were spending more on social media than ever before.

Peter Fraser, owner of a digital reputation management company, said: “Businesses, and particularly the businesses we work with such as the blue-chips, are revising their marketing strategies and the allocation of spend, whether redirecting current budgets or otherwise, to focus on social media.”

Other figures from the survey have indicated that 35 per cent of larger corporations have a much higher social presence than SMEs mainly down to having larger marketing budgets.

Stephen Johnson, social director of Community Engine said: “They’re not asking ‘how do we do social anymore?’ They’re just doing it.”

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