The industries also varied significantly by the amount of resources – investments and employees – they devoted to social media. Exhibit III-19 shows two numbers for respondents in each industry: average spending on social media, and the spending in millions of dollars per $1 billion in average revenue for industry respondents. Two industries are spending far more on social media than the other nine:
Utilities: Spend about $4 million for every $1 billion in firm revenue, or nearly four times the average across all industries.
Media and Entertainment: Spend about $3.5 million for every $1 billion in firm revenue, or about three times the average across industries.
Industries spending the least on this measure: Travel-related (about $190,000 per $1 billion in firm revenue) and banking/financial services (about $910,000 per $1 billion in firm revenue).
Exhibit III-19: Industries That Spend the Most on Social Media: Media and Utilities (as Percent of Revenue)
We also asked respondents to estimate their projected spending on social media by the year 2015 (both average and median). (See Exhibit III-20 but note that it shows average and medians – not, as in the chart above, averages and spending per $1 billion in revenue.) Looking at the average spending per respondent, those in the following sectors predicted the greatest increase:
- Banking/financial services: From $15.5 million per respondent this year to $21.8 million in 2015
- Consumer packaged goods: From $23 million to $31 million
- High tech: From $19 million to $27 million
- Telecom: From $20 million to $29 million
Exhibit III-20: Projected 2015 Spending on Social Media, by Industry
The 11 industries showed big differences in the number of employees across the whole company who were working full-time on social media activities (Exhibit III-21). Industries whose respondents had the greatest number of social media staffers were media and entertainment (average of 102; median of 48); telecom (61 average; 20 median); high tech (63 and 24), and health care (61 and 15).
Exhibit III-21: Media and High Tech Industries Have the Most Employees Working on Social Media
« Previous Post
How Industries Organize Their Social Media Activities