Spending on Social Media

While Social Media is considered a relative newcomer in the marketing mix, it has become so ingrained in everyday life that it is starting to feel as though it has been around for much longer. And brands and companies are finally integrating them into their plans and budgets. But just how much has it become a part of a company’s marketing plan? And where are brands looking to continue their engagement with consumers?

Recently, Ad Age released findings from a survey they conducted with RBC Capital Markets in May with 1,682 executives from marketing, agency and media companies. Below is a quick synapsis of their key points:

  • Overall, spending is slightly up for digital and social, but this spending is still a small part of overall marketing budgets.
  • Most respondents use social media to build awareness and sentiment for their brands while next most popular reason was driving traffic to their website
  • Facebook gets the greater share of digital budgets than Twitter or YouTube – with an increased number using ads on Facebook
  • Respondents have or plan to increase their spending on Twitter in the next 6-12 months
  • For both Facebook and Twitter, marketers thought they saw increased ROI with mobile ads rather than desktop
  • Three-fourths of respondents use Twitter’s ad products – primarily promoted tweets
  • Very few marketers used Facebook and Twitter in conjunction with a TV campaign
  • Just over half the respondents use YouTube – with 30% of those using reported spending zero on its ads
  • However, over half of the marketers said they expect their YouTube budget to increase over the next year

For the full article and survey results, visit Ad Age.

 

With contributions by Rae Ann Fisch

About

Brad is an expert in private label and challenger brand food marketing for Barkley, an integrated marketing and advertising agency. He specializes in working with manufacturing-driven food companies that have aspirations to develop a consumer insight-led strategies to help drive innovation and growth.

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