With the new boom in social media, PR firms are finding out just how much money can be saved. True they are still having to use traditional forms such as press releases; however, studies are being done on how when used right social media can not only enhance your impact but save you a nice chunk of change as well.

Erica Swallow, representative of Gist - a social network site, found through research and interviews just how much of an impact social media has made on the world of PR. She states it does take some time getting familiarized with the different sites and using them in the most efficient way. However, what most firms are finding is that it is saving them thousands of dollars.

INgage Networks’ Corporate Communications Manager Katy Saenz explains how her company saved $270,000 in expenses through social media. Before they used an external PR agency, but found that bringing PR in-house and using social media effectively they could save not only money but time.

http://mashable.com/2010/08/16/pr-social-media-future/

-Christine Martin