Back in 2005, when TheFaceBook pitched for a Starbucks DoubleShot advertising opportunity, social marketing might easily have been written off as a passing craze. But a decade later, with the re-named social network making over $9 billion in ad revenue in a single quarter, social media advertising is now an integral part of the digital marketing landscape.
From established players such as Facebook and Twitter to newer arrivals such as Snapchat and Instagram, brands are flocking to social networks in a bid to engage audiences. Ad sales in social media grew by almost 50% last year and remains high in 2017.
So, what makes social media such a powerful tool for marketers and are they making the most of the opportunities it brings?
In an article for M&M Global, I described why social media advertising is here to stay. Here's a brief summary:
- Social offers massive reach: The reach of social platforms is undoubtedly an attraction for advertisers with the number of global social media users totaling a massive 2.8 billion this year, and increasing 21% since 2015. With almost as many mobile users (2.56 billion), social media offers marketers a unique opportunity to connect with consumers in any location at any time.
- Social offers an in-depth understanding of consumers: Perhaps the most important feature of social networks is the vast amount of information they hold about their users. Unique data points provide detailed insights into the user including who they are, how they behave, and what they are interested in. Marketers can use this data to precisely target their ads to specific audience segments.
- Opportunities are opening up to understand the medium's role in the wider marketing mix: Until recently, most social platforms didn't make their impression data available to the ecosystem, making it difficult to track the complete consumer journey or measure the impact of social advertising relative to other channels and tactics. Fortunately, social networks are starting to lift some of their third-party tracking limitations. Last year, Facebook announced measurement partnerships with select third-party vendors that enable marketers to quantify the true effectiveness and ROI of their Facebook ad spend. Marketers can now understand how the social platform works in combination with other channels and tactics to drive specific metrics for each type of audience.
Click here to read the full article in M&M Global.
Read how we helped O2 and Havas uncover the true performance of their Facebook advertising.
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