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Paid social is delivering Return On Ad Spend and the majority of companies plan to increase their advertising budget for digital ads next year. Those are just a few key insights from Matchnode’s latest survey examining how companies are using paid social to drive results, their budgeting behavior, and how they plan to spend next year.
What is a typical monthly budget for paid social media marketing?
According to our respondents, a vast majority of companies are budgeting over $1,000 per month for paid social media. It’s clear that companies are prioritizing paid social marketing efforts, with more than 33% of respondents are spending more than $10,000 per month.
Where are companies setting their Target Return on Ad Spend (ROAS)?
Among respondents who spend over $1,000 per month on paid social media and use ROAS as a key performance indicator, over 80% report at least 2x ROAS.
Are companies hitting their paid social ROAS goals?
Almost two-thirds of respondents reported hitting their Return on Ad Spend (ROAS) goals.
How are companies managing their paid social budgets?
Companies are not afraid to adjust their paid social budgets frequently, with over half of respondents spending $10,000 or more per month changing their budgets at least once per quarter. Additionally, a majority of respondents are juggling several priorities when deciding on a budget.
Setting a Budget: Traditional vs. Digital Media
Companies know the value of digital media: almost 40% of respondents budget solely for digital media ads, while 0 respondents reported budgeting solely for traditional media ads.
How are companies planning to update their paid social ad budgets?
Looking ahead, it’s clear that companies plan to take an active approach to their advertising budgets. Among respondents with budgets of at least $1,000 per month, almost 50% plan to increase their ad budgets next year, with 2/3 respondents planning to specifically increase paid social ads.
About our Respondents
Matchnode was able to get responses from a wide range of key decision-makers in a variety of industries. Primarily consisting of Marketing Managers, Digital Media Directors and VPs of Marketing, our data comes straight from the people making advertising budget decisions within their company.
Source: https://bit.ly/375I5je