Nearly two-thirds of CEOs say they are satisfied or very satisfied with the results of their social media advertising campaigns while seventy-five percent say they consider social media valuable or very valuable to their companies.
Most managers of U.S. companies say they are satisfied with the performance of their advertisements on Facebook, Twitter, YouTube and other social media properties.
Heavy social media advertising
According to a report released this week by The Pivot Conference, over two-thirds of companies surveyed said they are already heavily engaged in social media advertising activities while 20% more plan to do so in the near future.
More than 90% say they have advertisements running on social media giant Facebook and 78% are advertising on Twitter. This, coupled with the rise in social media use by consumers may be leading more advertisers to expand their plans for social media websites.
Other social media websites to gain too
The survey respondents report they plan to begin advertising on websites like LinkedIn and Foursquare in the near future and experts believe advertising on these websites is expected to grow 20% or more this year.
Obstacles remain to full-fledged roll out of advertisements on social media as these companies report that inability to measure the Return on Investment (ROI) and budgetary restrictions constrain their actions.
82% percent report that inability to demonstrate ROI is either a significant obstacle or sometimes an obstacle. Other obstacles to social media advertising include securing budgets (87%), getting executive sign-off (77%), finding skilled specialists who can implement the campaigns (68%) and coming up with campaign ideas (39%).
The survey results reveal that most company CEOs may need more social media education. While most have adopted social media enthusiastically, a majority (83%) believes that just blogging or tweeting on behalf of a company, product or brand is a form of social media advertising.