Asked how their social media efforts are performing, 63% of luxury marketers surveyed by Luxury Interactive and ShopIgnite said they were fairly satisfied with their results but are working to improve them. Another 21% are confident with their results so far, leaving just 8% unhappy and 9% not yet tracking the performance of their social efforts. Given their general satisfaction, it’s not surprising that 72% plan to increase their social media spend this year.
In terms of where that money might go, half of the respondents said that people and/or agencies was the top area to which they devoted their social media budgets last year. Following that in budget allocation were: advertising; experiences and/or content production; social commerce; and social management software. Read the rest at MarketingCharts.