In recent years, social media investments among U.S. marketers have dropped significantly due to issues such as strategy misalignment and stronger competition from emerging retail media channels.
The pandemic initially drove a massive increase in social media spending, accounting for 23% of marketing budgets by June 2020, but continued shifts toward digital marketing have led to decreased focus on social platforms.
Marketers must align their strategies better to leverage social media's immediate engagement potential while also adopting new technologies like Gen AI to enhance content generation and process efficiency.
Recent research showcases that to reap the benefits of social media effectively, marketers should shift their focus back to strategically planning investments that are both innovative and competition-aware.
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