According to “The CMO Study” from Duke University’s Fuqua School of Business and the American Marketing Association, shows that marketers are increasing their social media ad budget.
I always take future spending numbers with a grain of salt because their are so many variables that can influence that, but it is encouraging that in the last 12 months social media ad spending rose from 3.5% of ad budgets to 5.9%. That is a huge jump.
“Consumer goods companies like Unilever and Procter & Gamble have been very effective at connecting with customers through social media,” said Fuqua professor Christine Moorman, director of the survey, in a statement. “However, these results indicate that social media may be more difficult to apply in the service sector environment, where there isn’t a tangible product for customers to relate to.”
Interesting and useful information. I wonder how much those figures will change over the next few years. Thank you.