But social is more than a communication channel—and executives are recognising just how powerful social media can be in driving business forward.

The Harris Poll, on behalf of Sprout Social, surveyed more than 1,000 US consumers and 250 business executives to better understand how they use social media and its impact on an organisation. From increasing investment to using social data to inform opportunities outside of marketing, businesses are doubling down on social media following a year of accelerated transformation.

The findings include:

• 91% of executives anticipate their company’s social media marketing budget will increase over the next three years, and the majority expect it will increase by more than 50%.
• 85% of executives report that social data will be a primary source of business intelligence for their company moving forward.
• 78% of consumers are more willing to buy from a brand and 77% will choose a brand over a competitor after a positive experience with a brand on social media.

Don’t risk your business being left behind in the next wave of digital transformation.

Download the report for the data and insights your business needs to determine the path forward in this increasingly social consumer environment.