Every year I believe things are going to begin leveling out, but every year the market dramatically changes – and 2015 was no different. The growth of mobile, the rise of product listing ads, the appears of new ad types all contributed to some significant changes in both consumers behavior and the associated spend by marketers.
This new infographic from Kenshoo reveals that social has grown significantly in the marketplace. Marketers are increasing their social spend by 50% YoY, and click-through rates have grown 64%. The big factors: the rapid evolution of Facebook as an incredibly powerful advertising platform, and the introduction of Instagram ads.
While these numbers illustrate the continued adoption of digital marketing over traditional marketing, I don't believe these numbers tell the entire story. The significant rise in social advertising is a remarkable change. I'd love to see a breakdown of advertising types – are they promoting relevant content? Or are they advertising products? No doubt that Instagram is going to do well on the product side, but I wouldn't be surprised if social advertising growth was largely composed of content-related marketing.
No doubt that Instagram is going to do well on the product side, but I wouldn't be surprised if social advertising growth was largely composed of content-related marketing. It's just my humble opinion, but I still believe that advertising strategies are quite different between platforms. As we advertise on Facebook, we continue to lure highly-targeted audiences away from social conversations and into compelling articles, graphics or videos.
But as we advertise product marketing on platforms like Instagram, we're able to drive the user directly from the image (which has their sole attention without a conversation) into a conversion funnel. I believe it's a nuance of social ads that isn't explored enough but should be.