Social media marketing could lead to smaller media budgets, as it “just doesn't cost that much money to make social media advertising effective,” MAGNA Global's senior vice president told the OMMA Social conference in New York Monday, Media Post reported.

“That's the whole point. The brand that is Google spent how much on advertising to build their brand?” Brian Weiser said.

However, social media monetization “could be market expanding more than anything else,” Weiser said, according to Media Post, which put on the event.

However, more involved social media buys need even more resources, and the campaigns that don't engage customers often times don't have the “human resources to reach out,” said Greg Verdino, chief strategy officer for Crayon, Media Post reported.

Many at the conference agreed the greatest value social media still has for marketers is to be a research tool.

“You have to be thinking about social media as a cultural trend,” said Rich Gagnon, DRAFT FCB chief media officer, according to Media Post.