Harris Poll and Sprout Social surveyed over 1,000 consumers and 250 business executives.
Social media has become a popular tool for businesses to connect with customers, as over 70% engage customers through it, as per the report. Other popular mediums businesses use to connect with consumers include email (61%), TV/radio advertising (27%) and print ads (24%).
35% of consumers consider social media as the primary source to learn about new products and services. Further, 91% of executives plan to increase social media budgets. Consumers (55%) use social media to discover new brands or companies.
Nearly 90% respondents believe not investing in social media marketing could be detrimental to a company. However, less than 50% of companies believe their social media strategy is “very effective.” Sprout Social’s CMO, Jamie Gilpin, notes that companies must inform and communicate through social and not just advertise.
[7 minute read]