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In 2015, marketers put more money, time and effort into social media marketing than ever before. By the end of next year, 88.9% of US marketers with 100 or more employees will use social networks for marketing purposes—and the areas in which they place their attention are expanding.
According to a new eMarketer report, “US Social Trends for 2016: eMarketer Predictions for Video, Viewability, Buy Buttons, Messaging and More” Facebook and Twitter will remain the top social networks used by US companies in 2016, but Instagram will see rapid growth. Next year, 48.8% of marketers are expected to use the platform, up from 18.4% in 2014. Now that Instagram is open to all advertisers, it is attracting significant attention.
As marketers have increased their use of social media, their spending is also rising, and this shows no signs of slowing. Of the marketing professionals surveyed in October 2015 by the research company Ascend2 for its “Social Media Marketing Trends” report, only 2% planned to decrease social budgets in the future, while 67% planned increases.
Another indicator of budget increases comes from a survey conducted by the American Marketing Association (AMA) and McKinsey & Company for Duke University’s Fuqua School of Business . Between August 2013 and August 2015, the percentage of total marketing budget that US marketers devoted to social media grew from 6.6% to 10.7%.
Keeping up with developments in social media is challenging for marketers, but the fact that they are increasing usage and spending makes it clear they are committed to the space, regardless of the shifts that take place from year to year.
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