Social media spending set to increase, says study

The percentage of marketing budgets spent on social media is projected to top 10 percent, according to The CMO Survey.

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Discussing the results of The CMO Survey, Marketing Magazine said that social media spending will comprise just over 10 percent of companies’ total marketing spend in the coming year, up from its current total of 7.1 percent.

“The shift towards social media will be particularly pronounced in the business-to-consumer sector, with the tactic expected to increase from 10.5 percent to nearly a quarter (24 percent) of the total marketing budget within five years,” according to Marketing Magazine.

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