This newsletter comes from the hosts of The Marketing Architects, a research-first show answering your biggest marketing questions. Find us on Apple Podcasts or wherever you listen to podcasts!
From Facebook's 20th anniversary reflections to surging ad spend on platforms like TikTok, we're dissecting the social media landscape and how it has profoundly transformed marketing.
—Elena
$82 billion will be spent on social networks in the US in 2024.
That equals $357 per internet user, and more than half of this spend is directed towards video content.
It's time for social media marketers to embrace change.
20 years ago, Facebook was born, and our lives changed forever. Now, we’re incredibly connected online, and advertisers can reach audiences on a highly targeted and personalized level.
Meta still dominates marketers’ social budgets, with a projected ad revenue of $63 billion in 2024. However, growth over 2023 is only 7%. That’s compared to TikTok’s 31% growth and Reddit’s 29%. The rise of these platforms signals a shift in user engagement—and advertising opportunities.
While many consumers can still be reached on Facebook and Instagram, that’s starting to change. Plus, it’s getting harder to target specific individuals across all platforms thanks to new privacy regulations.
So what do social media marketers do now?
- Lean into first-party data for targeting. Third-party targeting capabilities are already diminished. Start planning for when they’re non-existent.
- Experiment with emerging platforms. Facebook isn’t the only player in this space anymore. Test other options according to where your audience spends time.
- Focus on video. There’s a reason half of social ad spend goes here. Video has repeatedly been proven more effective than other ad formats.
"How Facebook changed the internet as we know it”
This article for Mashable by Christianna Silva reviews Facebook’s impact on social media over the last 20 years—and where social media might be headed next. Read the article.
The power of social is undeniable.
“Content is fire, social media is gasoline.”
—Jay Baer, author and president of Convince & Convert
