Global digital ad spending in 2016 exceeded $194 billion and forecasts predict that it
will be $335 billion by 2020.
The primary outlets driving social media marketing continue to be Facebook and Twitter for B2C businesses and Facebook and LinkedIn for B2B companies.
Trends within these venues have strongly favored video, with 58 percent of business executives expressing a preference for video over reading an article. Consumers similarly reported a four-fold bias favoring video over other types of content.
This year’s May statistics for market-share of visits still shows Facebook leading at nearly 40 percent, with YouTube a close second at 26 percent. Facebook’s recent video offerings such as Facebook Live have proven a formidable challenger to Youtube’s dominance in the video viewing market.
Utilizing automated buying and enhanced targeted marketing techniques, social media marketers are increasing their campaigns’ effectiveness.
According to the Social Media Marketing Data posted on Social Media Examiner’s website, Facebook dominates paid advertising campaigns with 93 percent of the survey’s respondents reporting that they utilized the platform in their social media marketing campaigns. Instagram, LinkedIn and Twitter vied for the distance 2nd place, representing 24 percent, 16 percent and 15 percent, respectively.
Facebook and Twitter have implemented changes to their social media news-feeds are encouraging marketers to increase their personalized advertisements, penalizing those advertisers that fail to do so by having their content excluded from the users’ feeds.
Enhancing their analytics tools, Facebook is rolling out several improvements, including Artificial Intelligence (AI) algorithms. The updates will allow advertisers to increase the effectiveness of their campaigns and improve their abilities to track user interactions with their pages, including whether the visitor has shared page content and/or viewed the marketers’ offerings.
Twitter released their own analytics tool-set back in 2015 giving marketers the ability to monitor their campaigns by measuring the number of impressions per tweet as well as the engagement rate. These can further be expanded into likes, re-tweets, profile views, link clicks and detail expansion providing the advertiser with relevant descriptive metrics.