Weekly Roundup: Social Media Ad Spend – Is it Worth the Time and Dollars of Your National Brand?
August 15, 2014
I think it’s safe to say that even in today’s advanced marketing landscape, social media continues to be a big unknown for a lot of national brands, agencies, and marketers alike. While most understand that having a social presence is important for engaging and building relationships with consumers, anything further, like ad spend on social channels, can be an abstract concept. Which is why this week, the Balihoo marketing team is rounding up articles on the latest trends and information on social media ad spend to help brands determine if it’s worth their time and money.
Lana Odintsova – Managing Editor
MediaPost: Social Ad Spend to Pass $11 Billion by 2017
A new study from Mintel projects that U.S. social media advertising revenues will exceed $11 billion in 2017, which is in line with other predictions. However, the firm found that much of the spend will not be attributed to traditional ad displays, but rather to newer ad formats, including native advertising.
The increase in ad spend directly links back to consumer behavior. 50% of U.S. social network users say social media has had at least some influence on them when they are researching purchase decisions for products and services. Furthermore, 79% of consumers say they have viewed or shared content from a company or the company’s social media page, and 25% said they have sought more information via search after seeing content on social media.
Marcie Ellison – Marketing Manager
This recent Forbes article outlines the top 10 benefits that social media marketing potentially offers national brands. The article really drives home the point that social media marketing, when done correctly, can lead to more customers, more traffic, more conversions, and ultimately higher revenue.
In addition to the 10 highlighted benefits, here are several stats that caught my eye:
- 92% of marketers in 2014 claimed that social media marketing was important for their business, with 80% indicating their efforts increased traffic to their websites (Source: Hubspot)
- 97% of marketers are currently participating in social media—but 85% of participants aren’t sure what social media tools are the best to use (Source: Social Media Examiner)
Alden Dale – Marketing Technology Manager
Social Media Today:Where is Ad Spend Headed? [Infographic]
This infographic from Marketo pits traditional advertising against content marketing in terms of spend and effort. The author informs us that, with average budgets growing, we can expect to continue to see content marketing apps and other software products crop up as marketers scramble to programmatically address the new landscape.
Susan Tormollen – VP of Marketing
NewsCred: The ROI of LinkedIn Sponsored Updates
Balihoo is currently planning to test LinkedIn Sponsored Updates (would you click on our content? Please let us know!). And as such, I was looking around for independent case studies. This personal case study, by Newscred, not only proves the ROI for their use of LinkedIn Sponsored Updates, but more importantly, provides a good example how a company should test and measure what works for their brand, and what doesn’t.