Social media will see a rise in spending, much to the credit of Barack Obama, according to a recent KPMG study.

In fact “75 percent of executives predict that advertisers will move more than a quarter of media time and spending away from traditional channels in the next five years, while social networks and mobile marketing are expected to see a surge in activity,” as published in minonline.com.

What’s interesting is that it was Barack Obama’s use of social media which finally convinced corporate America that, yes, indeed, social media does work (thanks Prez Obama!).

But here’s the kicker, as quoted from minonline.com, “While the marketing and branding power of social networking is expected to be increasingly harnessed in the future, 61 percent of executives indicate that fewer than 30 percent of ad agencies have a plan in place to leverage the medium for their clients.”

Wow. Fewer than 30 percent have a plan in place to leverage social media for their clients.

In addition to being stunned by the industry’s slow response to an apparently strong marketing channel, I wonder how many agencies who say they are ready for social media truly get it.

What does being ready for social media mean to your agency? It is about rich media banners? Flashy microsites? Full scale web dev with social media integrated into the user experience? The web is, after all, social. It’s deep and broad. It’s cybernetic. It requires an understanding of the user as well. There’s a feedback loop now which is much more complex than broadcasting a message to the masses.

So, tell me, are you ready?