From marketers to students to journalists, all of us have succumbed to the pitfalls of that targeted Facebook ad. Marketing and communications forecasting firm Firebrand Group has released a new report on the ever-evolving world of paid social, a practice that yields a world of rewards, complications and digital innovation. The report goes into explicit detail on what that means for marketers, futurists, investors and media professionals.
The study found the prevalence of paid social amongst top marketers—79% of respondents indicated that they expect to increase their paid social spend over the next 12 months, while only 2.1% expect to decrease their paid social spend. To put that in perspective, for every digital marketer who is relying less on paid social promotion, there are over 37 who are reinvesting in paid social.
Paid social isn’t without its skepticism—some industries are vying for organic reach, even though paid social appears to be a more desirable goal, as it produces stronger ROI. The study identifies new organic channels opening up to support paid and non-paid efforts, while highlighting which content brands need in order to make a splash. The firm also reveals its biggest insight—not all consumers enter the mythical conversion tunnel from the top.
The agency surveyed an expert panel of marketers about their company’s paid social plan for 2017 and beyond, conducted interviews with hiring professionals and analyzed second-party data sets to create an in-depth analytical report on what the future of paid social holds.
Most brands have implemented their targeting strategies with emphasis on top funnel impact, connecting with consumers in the awareness branch. However, organic tweets only reach about 10% of a brand’s following. The typical Facebook page with one million or more likes averages a paltry rate of 2.27% organic engagement.
“Pay-to-play has evolved from the cliché catchphrase to a standing requirement for paid social,’ said CEO Jeremy Goldman, in a news release. “Our insights show organic social will need to diversify itself to keep up, and marketers now more than ever will need to be more conscious with their dollars and on which platforms they use them.”
Goldman will be presenting the results of the study at the upcoming Social Media Strategies Summit in Chicago, April 26-28, 2017.
326 marketers were polled. 52.1% percent of participants managed their company’s paid social directly, while 24.8% are indirectly involved with their company’s paid social efforts.
Source: PRWeb; edited by Richard Carufel