The rise of Social Ad Spend

The rise of Social Ad Spend

Posted on 28 Jan 2020

With over 4.3 billion internet users across the globe is it any wonder that ad spend has reached an all-time high.

 

A report from October 2019 by the Internet Advertising Bureau (IAB UK) stated that the UK digital ad spend increased to £7.3bn in the first 6 months and that’s despite the economic uncertainty surrounding Brexit.

 

With no signs of slowing down either, it is clear that in this modern era having an online and digital presence is one of the major strengths a business can have. 

 

Social media has long been proven to be the most effective tool for reaching your audience and growing your business. The report from the IAB quotes that ‘3.4 billion internet users were active on social media in 2019’ - it’s a no brainer really.

 

 

But why? Let’s take a look…

  

  • More advertisers are harnessing the immersive storytelling opportunities that digital video offers.

 

  • Scalability – you can scale to the moon, and it’s the easiest way to find your target audience.

 

  • The advertising sector are placing more focus on digital channels.

 

  • Programmatic technology has grown off the scale making video growth rocket - in the first six months of 2019 the IAB UK reported an increase of 27% to £1.32bn

 

  • Connectivity and the Internet of Things (IOT) are creating the perfect environment for advertisers, which is unlocking new revenue streams.

 

 

So, what can we expect?

 

  • More savvy marketers are now using predictive advertising techniques to build lookalike models using historical data.

 

  • Artificial intelligence (AI) is helping us to observe consumer buying behaviour like never before, whereby we can now predict future buying patterns. These predictions help us to deliver relevant content that converts.

 

  • Optimised ads – Google micro moments are now making it possible for marketers to gain insights that are valuable for a limited time. By using real-time data to optimise ad placement at any given time, marketers can now create personalised content for their consumers at the click of a button.

 

  • Optimised ad spend – through targeted and bid adjustments this is helping marketers to drive ROI for their campaigns.

 

 

Here at ICG we’re constantly evolving, through listening to our clients and the latest market trends, you’ll find we are always looking ahead to see what’s new and how we can stay relevant!

 

Just last year we invested in the next generation social media management tool and we’re now using big data and audience insights to really maximise our clients' digital advertising budget – making us the perfect partner for your next ad campaign.

 

If you need help with your digital marketing or for the best way to achieve ROI from your ad spend click here

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