Social Media Spending on the Rise for Most Companies

By on May 12, 2014

According to a new survey conducted by Social Media Marketing University, companies are investing more time and money in social media compared to last year.

infographic for release

Results showed:

  • 73.8 percent of businesses report that the time spent on social media has increased since last year, and 54.4 percent report that social spending has increased.
  • 60.1 percent report that content development requires the bulk of the time dedicated to social.
  • Nearly 70 percent manage four or more social profiles.
  • Top social media expenditures include internal staff compensation (36.8 percent), social advertising (18.1 percent), external staff compensation (10.2 percent) and content (7.2 percent)
  • 76.9 percent report that based on the results they’ve achieved, social media is worth the time and money invested.

An infographic illustrating complete findings is available at socialmediamarketinguniversity.com/infographic-social-media-cost/.

While businesses of all sizes are reporting increased social media spending and time commitment, small businesses are finding the increases to be most challenging.

“Because many small businesses don’t have the skillset or the staff to properly manage social media, they are outsourcing their social, or spending an excessive amount of time on tasks as they learn social by trial and error,” said John Souza, founder of SMMU.

“What we’ve found is that with social media training, small businesses are able to more effectively position themselves to achieve their overall marketing goals, while dramatically decreasing the amount of time and money they invest in social media,” Souza continued.

To kick off National Small Business Week, SMMU is offering a 14-day free trial for the firm’s All Access Pass for small businesses. Participants will receive free, unlimited access to SMMU’s comprehensive, award-winning 13 courses on social media and online marketing, including courses on Facebook, Twitter, Mobile Marketing and Video Marketing.

“Just as consumers review a company’s website before choosing to do business with them, they are increasingly reviewing companies’ social media profiles,” said Souza. “It’s never been more critical for small businesses to ensure that they are doing social media the right way.”

To take advantage of SMMU’s 14-day free trial of the All Access Pass, visit www.smmu.com/smallbizweek.

About Ty Mays Kelty

Ty Mays Kelty is a public relations and social media strategist and freelance writer based in Atlanta, GA. Follow her @PerfectPitchPR.
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