Social media spend is expected to increase 126 percent over the next five years. Yet, as budgets grow, marketers still face a huge challenge: gauging the impact of their social marketing efforts.
The State of Social Marketing Report, released by Simply Measured, is a compilation of survey responses from social marketing professionals, dozens of interviews from social media experts, and an analysis of the top brands in the world.
According to the study, social media accounts for 9.9 percent of digital marketing budgets, and is projected to grow to 22.5 percent in the next five years. In Q1 of 2015, companies had invested over $500M in deals for social marketing technology.
Social marketing spend to increase 126% in 5 years
Social media teams have three distinct needs
The key findings of this report identified that social media teams have three distinct needs: centralized strategy and planning, direction tied to business goals, and dedicated tactical execution.
#1 challenge is demonstrating value of social programs
Marketers face a significant challenge with measuring ROI and tying social activities to business outcomes.
In recent interviews with Arby’s CMO Rob Lynch and Calvin Klein’s CMO Melisa Goldie, both mentioned an uptick in transactions as proof the brand’s marketing was working, but did not reference any social media metrics.
YouTube has 100% adoption by big brands
Of the major networks, YouTube, Facebook, and Twitter have the largest brand adoption. Video is a key component of the big players in social, with YouTube showing a 100 percent brand adoption. Twitter has Vine and Periscope. Facebook has shifted its focus to video, evident by the significantly large increase in video shares. For example, Adidas video engagement on Facebook grew by 8858 percent in Q1 of 2015.
Facebook has shifted its focus to video
- 1.44B monthly active users with 1.25B monthly on mobile
- Engagement on posts is up, but brands are posting slightly less
- Large increase of video shares
Brand engagement is up on Twitter
- 302M monthly active users with 80% are on mobile
- Engagement with brand tweets is up 105%
- 91% of brands reply to at least some Twitter questions
Your brand should be on YouTube
- 1B users with 50% on mobile
- 100 percent increase mobile revenue year after year
- 300 hours of video uploaded every minute
- Protip: reach out to the communities, know your tags, and maintain a regular position schedule
Read the full report for highlights and interesting stats on YouTube, Facebook, Twitter, Instagram, Pinterest, Tumblr, and Google+.
Want to learn more about measuring the impact of social media on brand attachment? Check out how Hojeij Branded Foods’ social marketing strategy led to deals representing over $85 million in new revenues for the company.
What’s your biggest social media challenge?
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Photo credit: Ryan Haddad