Consumers in North America spend 20% of their online time and 30% of their mobile time on social media.
In the US, that adds up to 121 billion minutes spend on social media per month.
As a result, marketers are adjusting their ad campaigns and budgets to adapt, according to a recent survey commissioned by Vizu, a Nielsen company. 89% of advertisers already use free tools on social media (such as pages, likes, and pins) and 75% invest in paid advertising, such as sponsored content and promoted posts.
The big number is that nearly two-thirds of these companies plan to spend more on social media this year. That's good, because currently 70% of companies spend 10% or less of their online ad budgets on social media, which simply isn't enough. Most social media ad budgets will only grow by 10%, but one in seven will grow their budget by 15% and one in 10 will grow their budget by 21% or more.