What is it about a recession that triggers worst-case scenario nightmares? Marketers fear the “R” word. And in tough times, ad budgets are often the first thing slashed.

The good news is some marketers aren’t cramming their entire ad spend under their mattresses just yet — especially when it comes to social media. Spending in this category is alive and well, and is only going to grow in the future. By 2010, social media spending is anticipated to reach $757 million. And that’s not counting media buys for Facebook and MySpace display ads.

Forrester has released a report that says social media (and social applications in particular) is well poised to weather the turbulent economic climate. In fact, at least one Forrester VP believes social media is so effective in the consideration stage of decision-making — an area where traditional advertising isn’t — that marketers should consider ramping up their social media spend.

So with a potential flood of ad dollars pouring into this space, what does this mean for content? Do we propose a widget and call it a day? No way. It’s all about strategy. Here are some pointers:

• Let your marketing strategy dictate your social media vehicles, not the other way around.
• Insist social media apps have performance metrics built in, so you can demonstrate success to your clients.
• Make certain your project is interesting to your audience and encourages collaborative communication.
• Don’t reinvent the wheel — figure out relevant ways to use existing social media channels to your advantage.
  

Rome wasn’t built in a day. Neither was Nike or YouTube. Today’s tangible return on a social media project demonstrates your worth to your clients and can help you become a better brand steward over the long run. But whatever you do in social media, make sure your content adds value to your audience and your brand. It shouldn’t be this week’s fad.