Though most marketers believe that social media boosts their organizations’ bottom lines, communicating its value remains a stumbling block.
A recent Sprout Social report revealed that in 2019, roughly $18.4 billion will be spent on social media advertising. Most of the marketers surveyed (90%) agree that spending budget dollars on social media efforts directly affects revenue, but only 63% say they frequently discuss social media metrics or ROI with executives.
Marketers say that developing social media strategies to support their organizations’ business goals remains their No. 1 challenge, but other top hurdles include identifying and understanding their target audiences, getting the proper budget and resources for social media campaigns, publishing compelling content, measuring ROI, monitoring the competition, aligning the social media strategy to other campaigns and efforts across departments, relaying social media’s value and finding the team bandwidth to execute online efforts.
Sprout Social reported: