Social media ad spend has crossed 13% mark globally in 2019, which will be the first time for it to surpass Print ad spend.
Global social media spend is predicted to grow to 20% this year. It is now ranked as the third-largest advertising channel, TV and Paid Search being the only two advertising channel ahead of it.
2019 is going to be the first year where print ad- newspaper and magazine will completely be outshined by social media ad spend. This was possible due to targeting and localizing capacity of the platform.
More and more small businesses are spending heavily on social media paid search, and are fueling much of the global growth of these channels. Bigger companies have also followed the bandwagon; the investment capabilities have also increased manifolds. Options are unlimited and businesses are not shying away from going digital. Platforms like Facebook, Instagram and twitter are the investors favourite.
By offering sophisticated targeting capabilities and unparalleled reach for businesses of all sizes, social and search platforms have chipped away at traditional advertising sources. This is a good time for investing in digital marketing, especially for small businesses. It is cost-effective and has wide-reach.