Sensis, has reinvented its social media report, this year calling it the Yellow 2018 Social Media Report and dividing findings between consumers and businesses. Here’s a summary of what we think are the most useful or insightful snippets in this year’s report.
What percentage of businesses use social media?
More than half small-to-medium businesses have a social media presence. This proportion has now reached the highest level recorded. The key catalysts behind using social media are: sales and marketing purposes, and providing a line of contact. For those businesses reluctant to be on social media, the dominant barrier is a perceived lack of benefit.
Which social media platforms are most popular?
Facebook is used by around nine in ten businesses. This is consistent with 2017 results. LinkedIn remains in second place, but only for medium to large businesses. Small businesses now favour Instagram over LinkedIn.
Twitter has much stronger appeal to large businesses (up five points to 60%) and medium businesses (up nine points to 45%) than small businesses (down 10 points to 14%). Instagram’s penetration is also correlated with business size – 27% for small businesses, 39% for medium businesses and 46% for large businesses.
What is the social media budget for 2018?
Around one in five SMBs with a social media presence have no budget for this activity. The larger the business, the more they spend on social media. We also see that among both SMBs and large businesses with a budget for social media, the average amount spent was higher this year.
Almost half the social media spend is allocated to advertising.
Around nine in ten companies have advertised on Facebook. The next most popular platform used for advertising has been Instagram – by 10% of small businesses, 22% of medium businesses and 30% of large businesses.
Is social media return on investment (ROI) measured?
Only an average of 29% of companies measure their social media return on investment.
ROI is mainly measured by recording response numbers, asking customers and the number of new sales. Among medium and large businesses, use of analytical tools like Hootsuite, Mention or Keyhole is also relatively popular.
What is the most frustrating aspect of using social media?
Thinking of new content is universally the most frustrating aspect of using social media.
What is going to happen in the next 12 months?
Few businesses expect to spend less on social media in the year ahead.
Reducing expenditure on print advertising appears to be the most likely way of funding increased social media spend in the coming year.