Yesterday a Nielsen company, Vizu released their report after a survey on expenditure by companies for social media advertising for 2013. Advertisers are upping the budget for their online marketing campaigns, with 64% planning to spend more on their advertising projects for the social media platforms in the future.
There is no surprise in the figures that US consumers spend 20% of their time online and 30% of their Smartphone time on social medias. This accumulates to a massive 121 billion minutes each month.
Most companies paid social media advertising budget is still quite low, 89% of advertisers surveyed stated they were more inclined to use free tools such as posts, tags, pins, etc. Many advertisers are still yet to jump on board to the paid social media ads, 20% said they’ve only started paying for their campaigns in the past year.
The growth estimated for this year in paid social included 64% of those surveyed planning to increase their expenditure on paid social media advertising. Although the increase will be of only a slight shift, 1-10%, it is still an indication that this channel of the advertising industry is on the rise.