Question
A Duke University study on social media revealed that companies spent an average of 9 percent of their marketing budgets on social media for the
A Duke University study on social media revealed that companies spent an average of 9 percent of their marketing budgets on social media for the current year. The study also reported that businesses can expect to see that percent almost triple to 25 percent in five years. Despite the current investment and expected accelerated growth in social media, most companies indicated they had little insight about the impact of social media on their revenues. Businesses are struggling to measure social media results and to keep up with the next big thing. More players (e.g., Snapchat and Messenger), more options (e.g., payment features), and more content (e.g., paid social ads) are flooding users' social media pages. As social media grows, security becomes more critical. As the owner of owner of a yogurt shop, you want to understand the rapidly changing landscape of social media in your business field and among your competition. You decide to research these variables: selection of social media channels, options in social media tools, shifts in social media content, security, and ways to measure impact of social media. After compiling your research report, you decide to develop a plan and budget that will guide your social media marketing choices and expenses over the next two years.
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