While social media is getting a lot of attention and spending, the big bucks are going where they’ve always gone — TV. Social-budget dollars are coming from print, radio and other Web properties.
CMOs are planning to increase their spending on social media substantially over the next five years, according to a Duke University survey. The 249 CMOs of U.S. companies said they will increase their spending on social media from its current level of 7.1% of their overall marketing budget to 10.1% over the next year and to 17.5% in the next five years.
BIA/Kelsey’s five-year outlook for social media advertising is dominated by display ads on Facebook.