Digital marketers have already discovered that leveraging social media can have a positive impact on their overall bottom line. As a result, new research shows that more are going to be dedicating larger portions of their budget to this channel in the near future.
Sprout Social recently published “The State of Social Media Investment” report, and statistics showed that over the next three years, the majority of marketers (46%) anticipate boosting their social media marketing budget by between 51% and 100%. About 45% of marketers will increase this budget by up to 50%, and 9% of respondents expect a rise of more than 100%.
In terms of gaining a competitive advantage, most marketers (60%) said that it is imperative to invest more resources into social media.
Investing More in Social Media Marketing
This is not the first batch of research to suggest that marketers are already thinking about boosting their social media marketing budgets.
Nielsen conducted its “Annual Marketing Report,” and data indicated that over the next 12 months, the majority of marketers (more than 70%) intend to increase their budget for social media marketing initiatives. This was followed by search (about 70%) and online and mobile video (nearly 60%).
That being said, more than 70% of respondents said that they were still “not very confident” in their ability to measure return-on-investment, and only 30% said they were “very confident.”