Duke University recently published a study on social media that left many managers scratching their heads. Social media spending at companies, the report showed, currently represents 9% of marketing budgets, and that’s forecast to rise to nearly 25% within five years. But half of marketers interviewed said they couldn’t show what impact social media had on their business – at all.
Critics were quick to call the surge in social media spending a case of throwing good money after bad. From my perspective, however, these conflicting stats tell an entirely different story: that social media is evolving at breakneck speed and companies are struggling mightily to keep up. Businesses are reaching larger audiences and seeing increasing benefits, but the shifting social media landscape makes getting consistent results – and measuring them – an enormous challenge.
In 2015, the pace of social media change is – if anything – poised to…
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