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: in 2023, this figure is expected to rise to $268 billion! 💵📈 (Statista).
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. 🎬💰 (Insider Intelligence)
In 2022, social networks managed to grab a third of all digital advertising spend, securing second place in the digital advertising market. 💼🏆 (Hootsuite, Statista)
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%. 🎲📊 (Statista) What are your average results?
Join us as we explore the ever-changing dynamics of social media advertising. Harness the power of the digital world with us! 🚀🌐
Did you find this interesting? Don’t forget to hit like and comment below whether the actual figures align with your perception of the scale of social media advertising.