Social media is a main part of the advertising world. Facebook, Instagram, YouTube, TikTok — all of us worked with them at least once.
If you’re still missing out on social media advertising, here are some breath-taking statistics that might convince you to give it a try:
Social Media Statistics: 2022-2023
The world has gone digital, and social networks, which are projected to unite over 4.74 billion active users worldwide by 2023, have become the main drivers of this process.
In 2022, advertising expenditure on social media reached a staggering $173 billion! And that’s not all: this figure is expected to rise to $268 billion in 2023!
Even a small piece of this pie represents a massive market and enormous opportunities.
Social video advertising is slightly lagging, but it’s expected to skyrocket to $79.28 billion by 2024 in the US alone.
In 2022, social networks managed to grab a third of all digital advertising spending, securing second place in the digital advertising market.
Looking at the metrics, the Cost Per Thousand Impressions (CPM) for social media advertising in Q3 of 2022 was $8.15, while the global Click-Through Rate (CTR) remained at 1.2%.
Future of Social Media Advertising
As we move into 2025, social media platforms are evolving faster than ever. The rise of new technologies such as artificial intelligence (AI) and machine learning is enhancing the targeting capabilities of advertisers, allowing for even more precise audience segmentation. This enables businesses to optimize their campaigns, boost engagement, and increase ROI.
Another exciting trend in the industry is the shift towards social commerce, where consumers make purchases directly through social media platforms like Instagram, TikTok, and Facebook. By 2025, social commerce is expected to surpass $80 billion in the US alone, making it a crucial element of any advertising strategy.
But it’s not all about numbers. Consumers are becoming increasingly discerning, and the demand for authentic, engaging content is at an all-time high. Brands must now focus on creating meaningful connections and providing value, rather than simply pushing out ads. This means that influencer partnerships, user-generated content, and interactive ads are becoming powerful tools in the social media marketing arsenal.
As social media advertising continues to grow and evolve, staying ahead of the curve is essential. Keep monitoring the trends, test new formats, and always keep your audience at the heart of your strategy.
