Final answer:
While the exact percentage of marketing budgets dedicated to social media varies, the high engagement on platforms such as and significant investment. Social media's influence on decision-making and fundraising success suggest companies are allocating substantial portions of their marketing budgets to these platforms.
Step-by-step explanation:
The percent of a company's marketing budget that is allocated for social media spending varies widely across different organizations and industries. However, with the significant engagement rates on platforms such as and , companies are investing more in social media to reach their target audiences.
For example, the fact that 73 percent of adults engage in social networking online and that platforms like influence decision-making shows the impact of social media on consumer behavior. Additionally, campaigns and nonprofits have seen success in raising funds through social media platforms, which further incentivizes companies to allocate a significant portion of their marketing budget to social media.