Social media provides an ever-growing opportunity to engage consumers – but many advertisers commit part of their advertising budgets to this channel before fully understanding how to measure success, deliver positive results, or gain valuable insights.
Microsoft Advertising set out to discover how advertisers who have committed large budgets to social media have found success. A survey of 200 marketers and agencies in the U.S. (spending an average of $2.2 million per year on social media advertising) revealed some fascinating facts.
Brand conversations among advertisers’ target audiences are clearly key – word of mouth was cited as the top reason to invest in social media, followed by branding. Social marketing is an excellent way to build awareness around new products and services, or to reposition existing offerings.
Other key findings include:
- Advertisers do see a difference between social advertising and social presence.
- Social media budgets are spent evenly across attracting and engaging online audiences.
- It is still difficult to measure ROI and whether or not the target customer is being reached.
Despite concerns, advertisers generally believe that there’s greater risk in not having a social media presence, and most respondents predicted their investments in social media advertising would continue to grow.