GoodFirms, a universally renowned B2B ratings, and reviews platform, released its recent survey research report-“Social Media Marketing – Top Tips, Challenges, and Trends to Look for in 2024“. The survey aims to gather valuable advice, suggestions, and recommendations about social media marketing along with the trends for the year 2024.
GoodFirms’ survey highlights that more and more businesses are embracing social media platforms to grow, promote their brand, and enhance sales by implementing appropriate social media strategies. It also identifies the key benefits of social media marketing, as indicated by the respondents as large audiences, cost-effective marketing, improved brand awareness, increased customer engagement, and enhanced customer experience.
According to this social media marketing survey findings, 11.6% of the surveyed businesses spend more than 75% of their marketing budget on SMM. While 15.8% of the respondents spend 50% to 70% of their marketing budget, and around 32.9% of the businesses spend 25%-50% of their budget on social media marketing.
LinkedIn won as the best social media platforms with 93.5% opting for this platform, 71.4% Instagram, 68.3% Facebook, 61.9% Twitter, 42.8% YouTube, 33.9% Tiktok, 25.6% WhatsApp, 21.5% Reddit, and 6.5% interest.
The survey attempted to find the type of content posted by the marketers and the results are as follows; 92.6% opting for blogs, 87.1% for images, 74.7% investing in short-form videos, 62.3% post infographics, 38.4% plan for podcasts.