The Influence of Social Media on Advertising Spend
If you’re advertising online these days, then you will be looking forward to all the new and improved ways to market your brand. One of these strategies that you should take advantage of is the world of Social Media.
Platforms like Facebook, Twitter, Instagram and Pinterest are of course the top avenues for brands and individuals alike. Combined, these platforms are said to end 2015 with over $23 billion in ad spend. Now by 2017 this number is estimated to reach over $35 billion, so it’s a safe bet that if you’re not advertising socially, you will be left behind.
Do you think your current online strategies are working out just fine and don’t see the need in using Social Media to grow your business? Then you might want to first start looking at the statistics for this year alone. Webbiquity.com has released one article in particular I found very fascinating for 2015 social statistics in regards to their findings for advertising. Pay close attention to number 7 on their chart of 21 Social Media Statistics which says “social media can be effective for selling things to marketers. Marketing professionals are 50% more likely than consumers to like a brand on Facebook, 400% more likely to follow brands on Twitter, 100% more likely to make a purchase as a result of seeing something on Facebook, and 150% more likely to have completed a purchase as a result of a tweet.”
The first thing that comes to mind when you hear social media is most likely Facebook. This could be due to the fact that over 1.39 billion people are currently active on a monthly basis. Expandedramblings.com released the latest 2015 statistics and show that 75% of brands are currently advertising on Facebook, including over 1 million small and medium businesses. The average click through rate for Facebook ads is 1.5% with an average cost per click of 27 cents.
Out of those 1.39 billion an estimated 1.19 billion are using their mobile devices to access the Facebook app. Facebook is consistently updating their algorithms, including the News Feed, as well as Mobile Optimization. Social advertising has only seen growth and even though Pinterest and Instagram are growing in ad spend faster, all platforms are steadily increasing.
Learn about the future of social media at Marketing Land’s SocialPro Conference from November 17-19 at The Cosmopolitan & Conference Center. Do you want the best advice on successful advertising strategies and tactics for such platforms as Facebook, Twitter, Instagram, Pinterest, Youtube, Tumblr, and Periscope? At the conference, you can meet with experts in the industry, such as brands and other Digital Marketing Agencies who are ready to share their success stories and strategies. All workshops will be held on Tuesday the 17th, and if you haven’t made your reservations yet, there is still time. When you register for SocialPro online you can also make your Reservations at The Cosmopolitan of Las Vegas.
Now, even if you can’t make it out to Vegas for the conference there are still ways to educate yourself in regards to advertising on the Social Network. Stay up to date on the latest industry changes and advancements through countless online webinars, articles, blogs and reports dedicated to advertising do’s and don’ts for social platforms.
Are you going to make the shift to social media ad spend in 2016 and beyond? Connect with your customers, and allow them to stay engaged with creative and eye-catching advertisements as they scroll down their timeline or news feed. The right marketing approach is sure to lead to a positive return on investment and increase conversions when you take full advantage of social media.