64% of marketers plan to increase their social media ad spending this year—including 31% who plan to increase their social media budget by more than 10%, according to a new report by the The Nielsen Co. and its subsidiary Vizu.
The report is based on a survey of more than 500 U.S. digital marketing and media professionals conducted last September and October.
For most of those advertisers, that growth is coming at the expense of other marketing channels. For instance, 23% say that they are shifting marketing dollars away from online display ads to social. Another 39% say they are moving some of their offline marketing budget to social media advertising and 10% are taking money away from other online channels. 41% say that they aren’t moving dollars into social. The total percentage exceeds 100% because advertisers could select more than one response.
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