11.6% of the surveyed businesses spend more than 75% of their marketing budget on SMM, GoodFirms revealed.
GoodFirms, a B2B ratings, and reviews platform, released its recent survey research report-“Social Media Marketing – Top Tips, Challenges, and Trends to Look for in 2024”. The survey aims to gather valuable advice, suggestions, and recommendations about social media marketing along with the trends for the year 2024.
GoodFirms’ survey highlights that more and more businesses are embracing social media platforms to grow, promote their brand, and enhance sales by implementing appropriate social media strategies. It also identifies the key benefits of social media marketing, as indicated by the respondents as large audiences, cost-effective marketing, improved brand awareness, increased customer engagement, and enhanced customer experience.
“Growth of AI, automation, influencer marketing, the dominance of video content, the rise of AR/VR, the explosion of social commerce, social responsibility/sustainability, and user-generated content are some of the top social media trends to look for in 2024,” said GoodFirms.
According to this social media marketing survey findings, 11.6% of the surveyed businesses spend more than 75% of their marketing budget on SMM. While 15.8% of the respondents spend 50% to 70% of their marketing budget, and around 32.9% of the businesses spend 25%-50% of their budget on social media marketing.
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