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STRATA Survey Finds Social Media Spending Up 24%
RADIO ONLINE | Thursday, August 27, 2015 |
Social media advertising is becoming a larger share of ad budgets, according to a recent second quarter agency survey conducted by STRATA. The survey found that 20% of agencies report they are likely to allocate between 11-25% of their ad budgets to paid social media, representing a 24% increase from the previous quarter. An additional 24% of agencies are setting aside 6-10% to paid social. Facebook continues to lead in agency advertising as 93% plan on using it in their campaigns, followed by YouTube (57%), Twitter (52%) and LinkedIn (29%).
STRATA says that the rise in social media ad spending and newer advertising mediums has created a "more complicated media planning picture for agencies." Media mix comes in overwhelmingly as the biggest challenge facing 40% of agencies, marking an 85% increase from the same time last year. Following media mix was client attraction (24% of agencies) and client spending (11%). Similarly, 22% of agencies expect their clients to make minor budget cuts from last year.
"There's an undeniable correlation between the rise in social media advertising with mobile device behavior," said STRATA President Joy Baer. "Agencies and advertisers are going to follow their audience. Mobile users are checking Facebook and Twitter throughout the day. So when you consider that around 60% of digital media time spent in the US is on smartphones and tablets, then it makes perfect sense to reach the audience in the apps that they're already accessing."
Other findings include:
- 22% are more interested in spot cable than they were a year ago (up 55% from last quarter), while 22% are less interested (down 13% from last quarter). 20% are more interested in advertising on spot TV than they were last year. 66% are more interested in advertising on streaming/online video than they were last year (up 45% from a year ago). 39% expect their growth in the second half of the year to better than the first. 52% say they expect their future growth to be the same as it was in the first half of the year.
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