TMGA - Vol. 2, Issue 9: The State of Social Media Ad Spend
Arthur Sabalionis
CEO @ AJ Marketing | I like positive vibes, telling stories, creators, content, Korea-Japan-SEA ??
In 2024, social media is buzzing with activity. AI is being used in new ways, Meta is making a big comeback, and TikTok shop is on the rise. This means there are more opportunities than ever for businesses to grow.
Come along with us as we explore the current state of social media and its future.??
???Marketing Strategy Review
???Asia Marketing Must Knows
???Business Intelligence Brief
?? Asia Event Calendar
?? The State of Social Media Ad Spend
In 2024, social media ad spending will surpass paid search, becoming the largest advertising channel by investment.
Let's look at what's driving this trend and see some real-world examples:
1. Meta's Remarkable Renaissance
Meta is on track to surpass linear TV in global ad spending by 2025.
Currently, platforms like Instagram and Facebook are vital for brand visibility. Brands also use Meta's WhatsApp for customer relationship management.
With Meta's latest AI innovations in advertising, we expect to see even more growth this year.
2. Investments in AI which transforms advertising
AI is changing advertising by improving audience matching and campaign intelligence.
Tools like Meta’s Advantage+, which automate parts of the creative and media planning process, are becoming more popular.
Additionally, generative AI is helping marketers create ad content more efficiently. An example is Coca Cola's 'Masterpiece' campaign, created with OpenAI.
3. TikTok’s growth will slow in 2024, amidst US ban concerns
TikTok, the third-largest social platform, may face challenges if the US enforces a ban.
However, this could lead TikTok to expand its TikTok Shop in more countries to sustain growth. Currently, TikTok Shop is rapidly growing in Southeast Asia.
4. Snapchat and Pinterest return to double-digit ad growth
In 2024, Pinterest is expected to see a 17.3% increase in ad revenue, while Snapchat's revenue is forecast to grow by 13.7%.
This strong growth of both platforms is attributed to a refocus and leaning into their respective strengths.
For example, Pinterest focuses on sponsored pins that are visual and sparked inspiration, while Snapchat focuses on interactive AR filters
5. Twitter/X’s ad revenue woes are set to continue in 2024
X’s ad revenue in 2024 is predicted to decline by 6.4% globally and 5.1% in the US. However, compared to its startling 46.4% decrease in 2023, it marks something of a stabilization for the Elon Musk owned platform, largely due to political ad spend.
It is important to note that X are the home of a large tech community, which makes it a great opportunity for tech brands to leverage.
6. Ad loads are rising across social platforms
Meta reportedly increased its ad load in Q4 2023 to 19.1%, with most Reels sessions now having seven or more ads.
Platforms are aiming to improve monetization “efficiency” with new search and shopping ad formats.
7. Social platforms are becoming increasingly homogeneous
As TikTok prepares to launch a photo sharing app, Notes, and Meta invests in AI search tools, social platforms are converging in the advertising formats and commerce functionality they offer to brands.
The challenge remains to enable brands to leverage their own data and analytics to understand target audiences at a deeper level, enabling personalized experiences across all mediums.
In summary, as we move through 2024, social media is not only outpacing traditional search in ad spending but also evolving through innovation and strategic shifts.
As platforms like Meta and TikTok innovate and expand, and tools like generative AI become more integral, we're witnessing a dynamic reshaping of how brands connect with their audiences.
This transformation offers both challenges and opportunities, signaling an exciting era for digital advertising.
APAC INSIGHTS
? Adidas Tokyo opens new pop up: Originals Sneaker Party
? LE SSERAFIM are now the 'Friends of the NBA'
? South Korean actor, Son Suk-ku , is Burberry's newest brand ambassador
? Bumble creates a brand refresh and introduces new conversational updates
DIGITAL MARKETING NEWS
? Check out the first-ever music video made by OpenAI's Sora from Washed Out
? Adobe Premiere Pro got generative AI upgrades
? Netflix release an immersive experience on Roblox called Nextworld
? Roblox release new ad solution: video ads placement
? Instagram is prioritizing original contents to remove rip-off contents
? A new licensing agreement means UMG tracks will soon be back on TikTok
? Reddit is ramping up contextual and interest-based advertising
? Threads is testing cross-posting from Instagram feature
? Apple launched Final Cut Camera app to video edit on iPad & iPhone
领英推荐
? YouTube’s testing an AI feature to help surface content inspiration
? Threads is giving users more control over who can quote their posts
? Instagram has four new interactive stickers to encourage engagement
? Snapchat launched new AR and ML tools for brands & advertisers
LINKEDIN GEMS
? Kyle Poyar shares the ultimate growth strategy for SaaS in 2024
? Check out Pierre Herubel 's latest B2B marketing playbook
? Richard van der Bloom shares the ultimate cheat sheet on LinkedIn in 2024
? Matt Barker breaks down a simple copyrighting structure
?? The 2024 Influencer Marketing Benchmarks Report
? When it comes to influencer content strategy, consumers are most compelled by genuine reviews
? When deciding which influencers to follow, similar values are a top quality.
? For consumers, collaborations that are honest and unbiased is the most important
? In 2024, brands must take influencer collaborations beyond just social media content
? The influencer and consumer feedback is a loop with 62% of frequent buyers are most likely to share product feedback with influencers
? When choosing a brand partner, aligned values is most important for influencers
? When choosing a brand partner, aligned values is most important for influencers
? Short form videos are the top content format for influencers to create with brands
? The average cost for an influencer post is $251 - $500
? In the future, influencers would need to be involved in creative & content brainstorming earlier to improve brand partnerships
Campaign360 Asia
?? 14 - 15 May 2024
?? Singapore
Echelon X
?? 15 - 16 May 2024
?? Singapore
Future Mobility Asia
?? 15 - 17 May 2024
?? Thailand
Digital Marketing Summit Korea 2024
?? 21 - 22 May 2024
?? South Korea
Mediaworks
?? 28 - 31 May 2024
?? Thailand
Saigon Summit
?? 30 May 2024
?? Vietnam
NFT Art Tokyo 4
?? 28 June 2024
?? Japan
Assistant Manager at Reson8 Asia
6 个月I think you'll enjoy reading this https://batamnewsasia.com/2023/10/03/batam-a-new-island-base-from-sgd-750-monthly/
Director of Operations | Partnered with Global Brands | B2B Collaborations | 100% Growth in 120 Days or Refund
6 个月Arthur Sabalionis Exciting times ahead! It's incredible to witness the transformative impact of AI on social media, alongside the resurgence of Meta and the rapid growth of TikTok Shop. These trends indeed herald new opportunities for businesses to innovate and thrive in the digital realm. Looking forward to diving into your newsletter to explore these dynamic shifts and glean insights into the evolving landscape of social media. Keep up the great work!
CEO, Axe Automation — Helping companies scale by automating and systematizing their operations with custom Automations, Scripts, and AI Models. Visit our website to learn more.
6 个月Exciting times ahead for social media with AI at the forefront. Can't wait to stay updated on the latest trends. ??