The digital world has completely transformed advertising and many businesses depend on social media to build and promote their brand effectively online. Social media marketing/advertising (SMM) has become prominent due to the amazing levels of control that marketers get to exercise over when ads are displayed and when users see them.
General Social Media Advertising Stats
According to Adobe, social media is one of the most promising advertising channels for 50% of Gen Z and 42% of all Millennials. Social media advertising is an effective way to gather leads and convert prospective customers into loyal followers. Until the year 2020, 50% of the total global population was known to use social media. It amounted to approximately 3.8 billion people. This is primarily because social media allows us to engage and interact with customers in a way not found in any other advertising platform.
As one of the largest social media platforms, Facebook advertising has massive potential for all marketers. 32% of Facebook users engage with brands regularly. Due to its large audience and sophisticated segmentation features, Facebook has given businesses and brands a great chance to reach out to new audiences. Facebook Ads with images are about 75% to 90% more effective than ads without images. Due to the multiple benefits that it has to offer, Facebook’s mobile advertising revenue accounts for 62% of its total advertising revenue. The average cost per click for a Facebook Ad across all industries is about $1.72.
A distinct group of marketers prefer to use Twitter as one of the best social platforms for getting in touch with their targeted audience on a personalized level. Did you know that Twitter has $145 million monetizable daily active users? The time they spend viewing ads online is about 26% higher on Twitter than other social media platforms. Twitter allows people to communicate directly with brands, making it the most suitable platform for brands to develop a positive impression on their consumer base. People present on Twitter are 53% more likely to be the first of the lot to buy new products. Moreover, Twitter Ads are a great way to save money if you do it right. Twitter Ads with videos are 50% cheaper in cost per engagement.
Instagram is by far the second most popular social media platform. 73% of marketers in recent times use Instagram, out of which 38% regularly use Instagram’s ad platform. It is a fantastic tool for brands looking forward to targeting a large audience base within their niche. As a visual platform, Instagram has become an appealing choice for brands to display their creativity while fascinating their audience. In fact, 72% of Instagram users report having purchased a product after viewing it on Instagram.
YouTube ranks second among all large search engines, right after Google. Users on YouTube are highly engaged, watching up to an average of one billion hours of video every day. With millions of searches per day, there are massive opportunities for brands and businesses to harness all that power from the audience in YouTube and engaging video ads. 78.8% of marketers consider YouTube as the most efficient video marketing platform. It is more than justified when over 90% of shoppers have successfully discovered a product or brand through YouTube.
If there is one social media platform that is a perfect fit for business professionals around the globe, it is LinkedIn. You can come across about 90 million senior-level influencers on LinkedIn. It opens up substantial opportunities for all B2B companies to develop a connection with their target audience. For instance, Sponsored InMail allows you to send personalized messages to your targeted audience and those that matter to you most. LinkedIn advertising can be cost-effective to a great extent, with the cost per lead on LinkedIn being about 28% lower compared to Google Ads.
Pinterest is a functional marketing platform with great value for brands looking for a way to tap into their targeted audience. Advertisers can reach over 169 million people on Pinterest, where 73% of pinners have bought something after viewing it on Pinterest. Furthermore, Pinterest opens up new opportunities for businesses to promote sales directly on the platform to enhance their conversion rate. A small pro-tip – pins that display a service or product in action are likely to drive in 67% more sales than ones without them.
Though not a frequently used platform like Instagram and Facebook, multiple brands have discovered that Snapchat advertising can effectively drive higher sales. About 2 out of 5 users claim to have found new brand’s Snapchats, courtesy of online celebrity posts and endorsements. Snapchat can be a great advertising platform for you if your target audience is comprised of people in Gen Z who use it regularly. The ideal length of a Snapchat Ad is about 5 to 6 seconds.
Social media advertising is undoubtedly an amazing medium for businesses and brands to promote their services and products online. Making an investment in social media advertising gives you the chance to reach out to an expanded range of audiences at an affordable price while subsequently developing your presence and brand recognition online.