A survey conducted by Simply Zesty found that businesses using social media marketing are dedicating an increasingly large portion of their resources to the channel. Many of these companies are leveraging both paid and unpaid social channels and seeing greater web visibility as a result.
According to the study, businesses said they expect social media marketing to account for nearly one-fifth (19.5 percent) of their budgets in the next five years. Currently, the average company is investing 7.4 of their available funds in social media marketing, Simply Zesty found.
B2C companies are spending the most on social campaigns at the moment, especially those in the products sector. These organizations spend, on average, 15.3 percent of their budgets on social, compared to 11.7 percent in consumer services. Meanwhile, B2B product-oriented companies dedicate 6.2 percent to the channel, and B2B service providers allocate 7.4 percent of their budgets to social.
A critical component of social media marketing is engagement. Sharing content and links to articles will help organizations boost their visibility on the web. However, Brafton recently reported that more than 90 percent of companies using the channel fail to engage their audience effectively.