According to one study, 70% of marketers are planning on increasing their social media presence via advertising this year—a stat that implies social media marketing doubters “must be dwindling.” As brands' demand for marketing space on social platforms increases, these crucial areas for reaching young consumers are becoming increasingly expensive. Case in point: Snapchat is now charging $750,000 for a single day of advertising to reach their “huge Millennial audience.” (Adweek)
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