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More than half of all companies spend 1 to 4 hours per day on social media management, according to Rival IQ. That’s a lot of time each day going to update Facebook posts, respond to customer complaints on Twitter or share new photos on Instagram! Compared with 2014 spend, companies are also investing more in social media in 2015. The 2015 CMO Survey found that marketing spend on social media is expected to increase 126% over the next five years with social media expenditures accounting for approximately 22.4% of marketing budgets, up from 9.5%. Are you getting the biggest bang for your social media dollar – or do you find your business spending more money (and time) without a clear ROI?
Social media is one of those things that all small business owners know the need to be doing, but finding the time to do it correctly can be tricky. On the surface, social media is essentially free. After all, it doesn’t cost a penny to set up a Facebook page or Twitter account. But the amount of time involved in maintaining these different social media accounts can come at a pretty penny. Before long, you’ll need a dedicated member of your marketing team to manage all your different social media accounts, respond to comments and notifications review analytics, and coordinate campaigns…
