According to the CMO Survey, the percentage of the marketing budget that is allocated for social media is on the rise. The organization predicts it will climb to nearly 21% for the average company in the next five years from 11.7% in 2016. That’s an increase of 234% since 2009, when it barely registered on the budget at 3.5%.
But while marketers increase budgets, they continue to report difficulty in proving the return on the spend. Only 20.3% report being able to show the return quantitatively linking it to company performance. So what should you be spending your money on if you want to maximize the return? Here are a few suggestions: