Social media marketing spending in the UK will hit £694.6m in 2017, up from £271.9m, while social media marketing spending in Europe will reach £2.7bn.
The report also predicts that social media marketing spending in Europe will reach £2.7bn in 2017, up from £1.2bn in 2012; and that social networks mature, defining the individual ROI of social media marketing will get harder. However, they war that the predicted growth is under threat of new European privacy legislation which it expects to take effect in 2016 and could cut the predicted social media marketing spending growth by more than £749m.
As a result we believe that when the legislation comes into force in 2016, it will depress spending on social media marketing by around £341.9m in 2016 and £409.8 in 2017.
The research also predicts a growth in the number of social media users, suggesting that by 2017 more than 70 per cent of Western Europe’s online population will be engaged on social media, up from 63.4% in 2013. The figures for the UK are expected to be higher than the European average hitting 77% in 2017.