Paul Dunay is an award-winning B2B marketing expert with more than 20 years’ success in generating demand and creating awareness for leading technology, consumer products, financial services and professional services organizations.
Paul is the global vice president of marketing for Maxymiser a leading web optimization firm, and author of four “Dummies” books: Facebook Marketing for Dummies (Wiley 2009), Social Media and the Contact Center for Dummies (Wiley Custom Publishing 2010), Facebook Advertising for Dummies (Wiley 2010) and Facebook Marketing for Dummies 2nd Edition (Wiley 2011).
His unique approach to marketing has led to recognition of Paul as a BtoB Magazine Top 25 B2B Marketer of the Year for 2010 and 2009 and winner of the DemandGen Award for Utilizing Marketing Automation to Fuel Corporate Growth in 2008. He is also a finalist for the last six years in a row in the Marketing Excellence Awards competition of the Information Technology Services Marketing Association (ITSMA), and is a 2010 and 2005 gold award winner in Driving Demand.
Buzz Marketing for Technology, Paul’s blog, has been recognized as a Top 20 Marketing Blog for 2009 and 2008, a Top Blog to Watch for 2009 and 2008, and an Advertising Age Power 150 blog in the “Daily Ranking of Marketing Blogs.”
Paul has shared his marketing thought leadership as a featured speaker for the American Marketing Association, BtoB Magazine, CMO Club, MarketingProfs, Marketing Sherpa, Marketing Executives Networking Group (MENG), and ITSMA. He has appeared on Fox News, and his articles have been featured in BusinessWeek, The New York Times, BtoB Magazine, MarketingProfs and MarketingSherpa.
Paul holds an Executive Certificate in Strategy and Innovation from MIT’s Sloan School of Management and a bachelor’s degree in Marketing and Computer Science from Ithaca College.
Hi Paul,
I’d add something else to this. Human costs are the big factor but there is a lot of leverage in social media. You write this post and spend some time on it, however hundreds or thousands of highly targeted social media pros are likely to see it and spread it around if it adds value. So the employee overhead should get amortized against the reach and value of a highly targeted audience.
agreed Edic and thanks for posting
Hi Paul,
I’m not sure I understood your ratio right. Is the 25% in addition (or part of) the traditional media budget?
For example, let’s say you have $50mm in revenues. 2/10 of 1% is $100k. So an additional $25k for social media, or is it a 75/25 split?
Thanks for the post. I’ve wondered how others have balanced their budgets.
Hello,
A humble request…
Do you, by any chance, happen to know who Secret Dubai (the blogger: secretdubai.blogspot.com) is?
http://whoissecretdubai.blogspot.com/
@ SecretDubai – from this looks of your comment and your name – YOU are secret dubai!
Sorry to break the news to you …
nice buzz attempt
PS – your page gave me 404 error
p
@ Tracey – I was suggesting an additional 25% just for social
thanks for commenting – sorry it wasnt clear
Paul, a recent post at Brand Central on marketing spend in b2b.
http://bawden.wordpress.com/2008/12/05/b2bs-hidden-marketing-budget/#more-1584
Hi Paul –
Nice to see a line drawn in the sand when it comes to social budgeting. The big question is how did you/the thought leaders in your organization come up with that number?
Does that number include technology and human resources and creative?
@ Toby
Yes we were thinking all the soft factors that go into creating content and then including the technology
I’ve been playing around with a simple projection tool for clients who want to compare what they might expect in terms of marketing results from social media vs. mass media. This is just a thin layer view, but it’s a start:
http://tinyurl.com/74ctfl
Welcome any feedback. I would like to build this out to incorporate the comparative costs that Paul talks about.
Jeff
Very interesting comparison – not sure I can make the leap to sales to directly (agree it is there though)
But a good template for folks to use as their build out business cases for social media
Hi Paul love the post here is my 2bucks
If your going to do a serious SM campaign your going to need to budget for on going social analysis so you can monitor your growth and map your connections so you can identify who your possible brand maven are “influences” 2nd ongoing social outreach to high socially connected people around your affinities and 3rd ongoing maintenance. To break that down would be $3K for the social analysis, 25K-50K for social outreach $2500 for ongoing support. All and All about $75K+ if you do a user generated content with blogger support $150K doing a target ad buy $25K+. These are all real numbers here.
Paul, I googled myself today out of boredom, and saw my name mentioned on your blog, and a great answer to my question. I guess now I’ll have to reciprocate, because I need to address who SM budget thing on my blog anyway.
Thanks, your answer was pretty much what I was thinking: human capital being the biggest expense.
I would like to build this out to incorporate the comparative costs that Paul talks about.But as we know, Twitter is just one tool. There are tons of ways to publish interesting information online to reach your buyers.