Almost 90% of marketers choose Facebook for social media advertising
Despite the ever-changing nature of social media with new “players” emerging, no one is “touching” Facebook when it comes to social media advertising. With approximately 2.9 billion active users, Facebook remains the leading platform for marketers in B2B and B2C. According to OnlyAccounts.io, approximately 90% of marketers chose Facebook for social media advertising in 2023, a rate that is higher than Instagram by 10% and triple that of TikTok.
53% of marketers plan to increase their use of Facebook in the future
Although Facebook is one of the oldest “players” in the social media landscape, it is still the first choice for most marketers. According to a survey by Social Media Examiner, Facebook was the most frequently used social media platform among marketers worldwide in 2023, with 89% of them using the network to promote their business.
Instagram was ranked as the second most frequently used platform for social media advertising, with an 80% share among respondents. Nearly 65% of marketers chose to advertise on LinkedIn, making it the third most frequently used platform. YouTube and Twitter followed with shares of 54% and 44%, respectively. The statistics show that only 26% of respondents named TikTok as the top platform for social media advertising, three times less than the top Facebook platform.
The survey also revealed interesting facts about how marketers plan to use social media platforms in the coming years. Some 53% of them said they would increase their Facebook usage in the near future, while only 5% planned to reduce their Facebook ad budgets. The statistics also show that 66% of marketers will increase their use of Instagram and YouTube, compared to 43% of those who plan to boost advertising on TikTok. But, at the same time, 45% of them were not planning to use the video sharing app for advertising at all.
Meta holds 55% of the global social media advertising market
With brands pouring tens of billions into Facebook and Instagram ads every year, Meta remains the largest brand in the global social media advertising landscape. According to research by Statista, Meta had a whopping 55% market share last year, almost four times that of LinkedIn, the second largest social media advertising brand. Snapchat, Reddit, Pinterest, Twitter and ByteDance had shares of about 5% of global social media ad revenue. Last year, brands spent a whopping $189.5 billion on social media advertising. Statista expects that figure to rise to $207 billion in 2023 and then skyrocket to $247 billion by 2027.
