On average, big advertisers now spend nearly a quarter (24%) of their digital ad budgets on social media, and nearly half (47%) plan to boost it over the next six months. That’s the top-line finding from the first Social Media Advertising Report being released today by Advertiser Perceptions.
The findings, which are derived from AP’s surveys and interviews of more than 300 US agency and marketer executives, found that most of those budgets are either going into “sharing networks” or being bought “programmatically.”
Interestingly, the report also finds the vast majority of social media spending by brands is not focused on so-called “performance” — advertising intended to generate an immediate action — but on building “brand awareness.”
Only 38% of respondents said they were utilizing social media to generate “offline sales.”
The findings suggest that advertisers would like to invest more in social media, but that key impediments — especially standardized measurement — remain key issues for many.