{"id":108913,"date":"2023-05-16T18:43:33","date_gmt":"2023-05-16T17:43:33","guid":{"rendered":"https:\/\/www.marketingtechnews.net\/?p=108913"},"modified":"2025-08-05T13:00:24","modified_gmt":"2025-08-05T12:00:24","slug":"investment-in-social-media-is-critical-for-long-term-success","status":"publish","type":"post","link":"https:\/\/www.marketingtechnews.net\/news\/investment-in-social-media-is-critical-for-long-term-success\/","title":{"rendered":"Investment in social media is ‘critical for long-term success’"},"content":{"rendered":"\n

80% of business leaders anticipate their company\u2019s social media budget to increase over the next three years as 93% agree social media data and insights will be a primary source of business intelligence moving forward. <\/p>\n\n\n\n

This is according to new research from Sprout Social<\/a>, a provider of social media management software, conducted by The Harris Poll.<\/p>\n\n\n\n

The report, The 2023 State of Social Media: AI & Data Take Center Stage<\/em><\/a>, shows nearly every executive understands the value of social media data in informing key business decisions across an organisation. Among those who anticipate an increase in social media budget in the next three years, more than one in four (44%) expect their social media budget to increase by more than 50%, despite macroeconomic trends putting pressure on organisation-wide budgets.<\/p>\n\n\n\n

The Harris Poll, on behalf of Sprout Social, surveyed 778 U.S. and U.K. business leaders in marketing, customer care and communications, and found that 90% agree their company\u2019s success will depend on how effectively it can use social media data and insights to inform business strategy\u2014and they\u2019re turning to AI to help. In fact, virtually every business leader surveyed (97%) believes AI and ML tools will enable companies to analyze social media data more efficiently, and 87% anticipate increases to their company\u2019s AI\/ML investments in the next three years in response. Furthermore, the majority believe that more effectively leveraging social data (58%) and investing in emerging technologies to create efficient workflows (59%) will give their companies a competitive advantage moving forward.<\/p>\n\n\n\n

Jamie Gilpin, CMO of Sprout Social, said: \u201cIt\u2019s encouraging to see the extent to which business leaders now understand social\u2019s ability to influence every aspect of their organisation, and the resulting investments being made in social will catapult brands into their next phase of growth. <\/p>\n\n\n\n

\u201cWith frontline access to the most impactful data and insights available, marketers have the opportunity to not only educate their organisations, but to drive foundational change. By giving every department access to the latest social intelligence, marketers can lead their business strategies while ensuring their organisation stays ahead of the competition.\u201d<\/p>\n\n\n\n

Other notable highlights from the report include:<\/p>\n\n\n\n