Presentation: Brands spend 15 per cent of annual marketing budget on social media, says Ernst and Young

Companies have significantly increased their social media spends, even as they find it challenging to measure the effectiveness of their social media engagements.

According to a research report on social media by Ernst and Young, 90 per cent of brands spend 15 per cent of their annual marketing budgets on social media. This number has risen from 78 per cent in 2013.

The top three objectives were building brand awareness, building a community and customer engagement. The top three challenges that brands faced were - not being able to successfully measure effectiveness of engagements, sustaining or increasing engagement rates and creating/curating content.

Brands surveyed were looking to introduce Social CRM and social commerce as priority items on their social media agenda, followed by customised ads/campaigns and gamification.

The study analyses how Indian marketers and organisations have been using various social media platforms and going about tracking the performance of their social media initiatives. Brands across industries have realised the significance of social media and its peculiar demands.

Read the entire report below:

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