33% of Marketers to Allocate Majority of Budget Toward Social Media

As marketers look at how they intend on spending their budget in the coming months, new research indicates that social may be a key area of investment.

Ascend2 recently published “The Outlook on Performance Marketing” report, and statistics showed that most marketers (33%) intend on allocating the majority of their budget toward social in the year ahead. This is followed by SEO (16%) and search (16%).

That being said, the majority of marketers (73%) also stated that they will be creating the most content for social media in the year ahead. Video (32%), webinars (21%) and SEO (19%) also made the list.

Thus far, most marketers (76%) say they’ve only been “somewhat successful” in terms of achieving their performance marketing strategy goals. About 17% of best-in-class marketers said they had been “very successful,” up to this point.

Marketers’ Growing Use of Social Media

This is not the first batch of research to indicate that marketers are turning to social media to achieve their primary objectives

HubSpot conducted its “2021 State of Marketing” report, and data suggested that among most organizations (60% or above), social media is used as a leading approach to marketing. This is followed by SEO (40%), and account-based marketing (more than 30%).

As it turns out, marketers have several tactics for social media marketing as well. Social listening (62%), hashtags (48%) and live video (46%) were all cited as strategies used by marketing teams.