The CMO Survey: Social media spending by marketers to skyrocket

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“Social media spending as a percentage of marketing budgets will more than double over the next five years, according to a survey of 468 U.S. chief marketing officers. The CMOs noted they are spending 8.4 percent of their budgets on social media. Over the next year, that number is expected to increase to 11.5 percent, and in the next five years it will reach 21.6 percent, survey respondents said.”