Westford, USA, Sept. 29, 2022 (GLOBE NEWSWIRE) — There’s no denying that Social Media Management Market has become a powerful means of communication in today’s society. According to a recent study by SkyQuest, more than half of all online adults (65%) use social media sites like Facebook, LinkedIn, Twitter and Instagram. This represents a significant increase from just three years ago, when only 47% of online adults used social media sites. Additionally, the increase in social media use was not limited to young adults; 55% of adult women and 78% of adult men use social media.
With the growth of the social media management market, companies have realized the importance of having a social media management plan. Not only is it important to have a plan in place to ensure the company’s social media presence is managed effectively and consistently, but it has also become essential to track and analyze social media activity in order to inform marketing strategy to improve. A well-executed social media management plan will help companies control the message they are putting out and identify potential problems or gaps in their strategies.
Despite this widespread adoption, companies are still learning how to use social media effectively in the global social media management market. In fact, our most recent survey showed that only 36% of companies employ a full-time employee to manage their social media accounts. Additionally, 43% of companies are considering outsourcing their social media management tasks, and 24% have outsourced their social media management services.
With the demand for the social media management market skyrocketing, it’s no surprise that companies are scrambling to find an effective way to leverage these platforms. Some businesses are beginning to realize that a mix of traditional marketing methods and social media management is the best approach.
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SkyQuest survey shows 73% of companies are using or planning to use the social media management market
With all the talk about social media, it’s no surprise that more and more businesses are using it to connect with their customers. And one of the most popular means of communication is social media management.
This week SkyQuest released a survey of 2,500 social media management professionals in North America, Europe, Asia Pacific and Latin America. The study found that nearly three quarters (73%) of SMM professionals have implemented an automated Twitter management solution or plan to do so in the next 12 months. In addition, 70% use social media platforms for more than eight hours a day. In terms of the top organizational priorities for SMM efforts in the social media management market, creating content (68%) and measuring engagement (66%) were the top two. Additionally, 84% report achieving at least one goal they set for their company’s social media strategy, while just 6% report a negative experience.
According to the study, while nearly two-thirds (63%) of respondents have a formal strategy for managing social media activity, only 34% feel their strategy reflects the full breadth of their organization’s social media presence .
A lack of alignment with broader organizational goals was cited as the primary reason for this disparity in the social media management market, with 78% of respondents saying it was difficult to track performance against social media goals. Additionally, only 38% believe their employees use social media effectively to support organizational goals.
According to SkyQuest research, the top five areas in which companies in the global social media management market can improve their strategy are: developing a clear business case for social media (91%); set measurable and achievable goals (86%); Development of clear lines of authority and responsibility (81%); Training employees to use social media effectively (68%); and using tools and technologies that support effective use of social media (66%).
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AI is the next big thing for the social media management market
Artificial Intelligence (AI) is revolutionizing social media management, making it easier and faster for businesses to keep up with the latest trends and developments in the industry. According to a study by SkyQuest, AI can help social media managers reduce the time they spend on tasks like scheduling posts and managing followers.
Additionally, AI can help identify which posts are performing well and which need revising in the global social media management market. This saves time and energy because managers no longer have to comb through data to determine which posts resonate with their audience. AI can also identify potential issues that need to be addressed on social media platforms, such as: B. Content that infringes or violates copyright laws.
Today there are a variety of platforms that offer AI-powered social media management tools. Organizations can also use these tools to improve their communication strategy.
First, let’s take a look at the most popular AI-powered tool in the global social media management market: Hootsuite. This platform allows users to manage multiple accounts from one place. It also allows users to post updates and reply to comments from all their accounts in one place. Additionally, it offers a dashboard that allows analysts to track the progress and performance of each individual account.
Another popular tool for managing multiple accounts is Buffer, which is perfect for small businesses. This platform allows users to post updates on all their social media accounts in one place.
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Spending on social media management has increased by 27% in one year
As companies in the global social media management market continue to implement and leverage social media as a marketing tool, spending on social media management services continues to increase. Over the past year, spending on such services has increased by an estimated 27%. This significant increase is likely due to the large number of businesses that are yet to fully embrace social media and those who are just beginning to embrace it but need help managing their accounts.
The average cost of a single service in the global social media management market ranges from $100 to $50,000, but the cost can be much higher depending on the level of customization and automation desired. 61% of companies that have used a social media management service say they spent more than $1,000 per month on the service. The most common reasons for higher spending are increased engagement (62%) and increased follower growth (61%).
One of the main reasons for this rapid growth is that social media management services can help businesses save time and energy. For example, if a business has 50 different Twitter accounts, an online social media management service can help them manage them all more easily and effectively. Additionally, these services can help businesses monitor their social media activity and how it impacts their overall brand image and public relations.
Why is this social media management market so popular? There are a number of reasons the SkyQuest study suggests. First and foremost, social media platforms are incredibly effective tools for building and maintaining relationships with customers and clients. Additionally, these platforms allow businesses to engage with their customers in an interactive and engaging way. As a result, businesses that understand how to use social media properly can achieve tremendous success in building brand awareness, generating leads, and generating sales.
Top Players in Social Media Management Market
- Adobe Inc. (USA)
- IBM Corporation (USA)
- Google LLC (USA)
- Oracle Corporation (US)
- Salesforce Inc. (USA)
- Sprout Social (USA)
- Hootsuite (Canada)
- Meltwater (Netherlands)
- Sprinkler (USA)
- Digimind (France)
- HubSpot (US)
- Clarabridge (USA)
- Khoros (USA)
- Falcon.io (Denmark)
- Zoho Corporation (India)
- NetBase (USA)
- Brandwatch (UK)
- Shippable (UK)
- MavSocial (USA)
- Emplifi, Inc. (USA)
- Synthesio Inc. (USA)
- eClincher (USA)
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About us:
SkyQuest Technology is a leading growth consulting firm providing market intelligence, commercialization and technology services. It has more than 450 satisfied customers worldwide.
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