With the changes in consumer behavior and so many options for digital media, channels and devices, deciding where to allocate your advertising budget can be a challenge. A first-quarter-2017 report from 4C Insights examines the current state of social marketing, and highlights areas of major growth.
4C Insights looked at how more than 900 brands spend more than $130 million to advertise on Facebook, Instagram, Snapchat, Pinterest and LinkedIn. Overall, 4C found that advertising spend is up more than 60 percent compared with last year, and social has become a core component in brand strategy.
Instagram is reaping the benefits of much of this growth, and it seized an opportunity in the first quarter to reach 1 million advertisers. What’s more, Instagram officially launched its social shopping platform to the wider user base, and it launched Instagram Stories in a bid to compete with Snapchat, which seems successful thus far.
Some industries have invested more heavily in Instagram than others. For instance, healthcare ad spend increased 265 percent quarter over quarter, and consumer packaged goods spend increased more than 5,000 percent year over year. Likewise, Pinterest has gained ground on CPG, with an increase of almost 1,700 percent YoY. And Snapchat, which recently launched its initial public offering, saw a nearly 600 percent QoQ gain in all sectors.
4C identified some trends and compiled tips for how brands brand leverage the trends for successful social advertising. Check out the trends and tips below, and for more analysis on the state of social advertising, download the full report.
By Kimberlee Morrison at Adweek