Social Spend Increases [Infographic]
Social media marketing is on the rise, as a new survey conducted by Social Media Marketing University reveals that the majority of businesses are investing more resources into social media in 2014 when compared to 2013.
In fact, 73.8 percent of businesses report that the time spent on social media has increased since last year, while 54.4 percent report that social spending has increased. Moreover, 60.1 percent of businesses say that the majority of social time is being spent on content development and nearly 70 percent of the study’s respondents report managing four or more social profiles.
Additional insights reveal that the top social media expenditures include internal staff compensation, social advertising, external staff compensation and content. That said, 76.9 percent of respondents claim that based on the results they’ve achieved, social media is worth the time and money invested. Small businesses, however, face the most challenges when it comes to increasing resources spent in this channel.
“Because many small businesses don’t have the skillset or the staff to properly manage social media, they are outsourcing their social, or spending an excessive amount of time on tasks as they learn social by trial and error,” said John Souza, founder of SMMU. “What we’ve found is that with social media training, small businesses are able to more effectively position themselves to achieve their overall marketing goals, while dramatically decreasing the amount of time and money they invest in social media.”
Discover more data from the study by taking a look at Social Media Marketing University’s infographic below:
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