Is social media sinking with the economy?

The financial crisis may sap social media budgets or prove Web 2.0 is the ideal low-cost communications tool.

The financial crisis may sap social media budgets or prove Web 2.0 is the ideal low-cost communications tool

What will the sour economy do for social media adoption within organizations?

For marketers and PR pros,The Wall Street Journal is forecasting a grim, possibly prolonged, winter for social media as recession fears prompt some companies to rein in their discretionary communication spending.

Author Andrew Keen couldn’t agree more. He told Ragan.com companies shouldn’t waste their time and money investing in social media. “I think [social media] will disappear off the front burner,” he said. “It was the froth of the boom—of the prosperity—and it will go away.”

To read the full story, log in.
Become a Ragan Insider member to read this article and all other archived content.
Sign up today

Already a member? Log in here.
Learn more about Ragan Insider.