Marketers work on solving the question of social media ROI
Through a special arrangement, presented here for discussion is a summary of articles from MarketingCharts, which provides up-to-the-minute data and research to marketers.
Seven in 10 social marketers say that increasing brand awareness is one of their top goals. To help achieve this, more than half (54 percent) are prioritizing potential audience reach when considering which social platforms to invest in, per a new report from Sprout Social, which surveyed more than 1,000 social media marketers and over 1,000 consumers.
Data late last year from Zenith predicted social media advertising globally will grow by $28 billion between 2017 and 2020, accounting for about 64 percent of the growth of internet display advertising as a whole. And yet, while marketing dollars are ramping towards social media, costs are still a big consideration. In fact, almost half (47 percent) of the marketers surveyed by Sprout Social prioritize the cost of paid ads when investing in a social platform.
In an effort to meet their goals of lead generation (59 percent) and increased web traffic (45 percent), more than one-third of marketers also prioritize what potential the various social platforms have for making gains in these areas.
One in three respondents also take into consideration social algorithm updates when choosing social platforms. Other research has highlighted that these updates can pose a real problem, with algorithm changes on social being named a top challenge by the majority of B2C content marketers.
Among the challenges, almost half (47 percent) of social marketers find it difficult to develop social strategies that support their overall business goals. More than half (59 percent) of marketers say they don’t have enough time in the day to build out their social strategy. Other constraints keeping them from strategic work include other business priorities, 45 percent; excess tactical work to handle, 29 percent; and lack of resources, 27 percent.
While 71 percent of all social marketers agree they are able to provide helpful insights to teams outside of their departments, only 12 percent of social teams say their primary function is to provide business insights for their entire organization.
- What Do Marketers Prioritize When Choosing Social Platforms? – MarketingCharts
- The Sprout Social Index, Edition XV: Empower and Elevate – Sprout Social
- Social and Search Forecast to Contribute Two-Thirds of Global Ad Growth Through 2020 – MarketingCharts
- These Issues Proved Most Important to B2C Content Marketers in 2018 – MarketingCharts
DISCUSSION QUESTIONS: Should marketers have different goals for social media than traditional media? What advice would you have around optimizing the full potential of social media marketing?