Marketers Still Spending Wildly on Social but It’s Last in Trust
Social media has become a powerful marketing tool that can increase sales, brand awareness, engagement, lead generation and customer retention. Social network ad spending for 2018 is expected to be $25.24 billion, and will reach $34.10 billion by 2020. From their marketing budgets, US marketers will be allocating 20.1% to social media marketing in 2018. Despite these increases, social media is the least trusted media platform.
Source: GfK TVB Media Comparisons Study 2018. Persons 18+. Agree Strongly or Agree Somewhat. Q9 – For each source, please indicate the extent to which you agree or disagree with the following statement: I trust the News that I see/hear on this media source. Broadcast TV News Websites/Apps includes local TV station & network websites/apps for news/weather/sports.
Social Network User Projections
Source: eMarketer, January 2018.