Companies Plan to Spend More Money Advertising on Social Media This Year, Study Suggests

Posted by Techvibes NewsDesk

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.

 

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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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