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75% of marketers plan on increasing social media spend this year

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By The Drum Team, Editorial

January 20, 2012 | 1 min read

A new study has found that 97% of the over 700 marketers interviewed believe that social media marketing benefits their business, with 75% planning to increase their spend on social media this year.

The survey by Wildfire found that 88% believe that social media helps to grow brand awareness, while 85% believe it helps to engage in dialogue with consumers. 58% said it helped them to increase sales and partnerships, while 41% said it helped to reduce costs.

Facebook was the social media network that the most marketers used, at 94%, with Twitter next at 74%. There is then a drop, with blogs coming in third place at 41%.

When it came to measuring ROI from social media, Wildfire found that 38% use increased fans, comments and interactions as a measure, while 24% use increased revenue and 15% use increased brand awareness. It does not mention what methods the other marketers use.

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