Retailers are being left in the dark when it comes to their social media ad spend, according to new research by product performance management platform, ROI Hunter, on UK retail organisations and consumers.
The study found that over two-thirds (68%) of retail marketers have lost control of social media ad spend. With budgets increasing, profitability KPIs left unaligned, and consumers flocking to social media for purchasing, the research suggests that retail marketers are failing to meet key objectives aligned to profitability.
Surveying marketing and advertising professionals at top retailers, the research found that 67% claimed to have full visibility and control over how marketing budgets were allocated. However, this was almost mirrored by those who admitted to not having control over social media ad spend at 68%.
Findings suggest that retail marketers share a heightened urgency to gain control over social ad spend, now more than ever, as 72% expect to increase the budget for social media ad spend in the next year.
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