New Survey: Marketers to Increase Social Media Spending

The survey also found that executives are planning to increase spending on all forms of marketing. This is despite the fact that the survey was conducted from Aug. 1-23, a time frame marked by the S&P downgrade of U.S. credit and a Congressional battle over the debt ceiling.

Marketing budgets are expected to increase 9.1 percent and companies plan a 7.2 percent increase in marketing hires over the next 12 months. The latter figure is up from 6.2 percent when asked the same question in February 2011.