Social Media Spending By Large Consumer Companies, October 2013 [CHART]
On average, large consumer companies (with an average of $15.6 billion in revenues) will spend close to $19 million on social media this year, according to results from a survey conducted by Tata Consulting Services (TCS). While that average figure is projected to rise to $24 million by 2015, it pales in comparison to average spending on big data found in an earlier TCS survey, which stood at $88 million. On a median basis, too, large companies are spending far more on big data ($10 million) than social media ($2.7 million).
Social media spending compares more favorably with the investments companies are making to respond to digital mobile consumer spending. A previous survey from TCS found respondents spending an average of $15.1 million dealing with mobile consumers, with a median spend of $4.3 million. Read the rest at MarketingCharts.