Worldwide spend on social media advertising was up 50.3% at the peak of the 2020 holiday season compared with the same period the year prior, according to social media marketing firm Socialbakers´ fourth quarter report on social media trends. The fourth quarter noted a “meteoric rise” for the channel, with North America posting a 92.3% year-over-year spike in social media ad spending. Video content and especially livestreaming was a focus featuring new shopping possibilities. Directly shoppable media, including livestreams, is by the Interactive Advertising Bureau predicted to be one of the fastest growing ad categories.
Socialbakers says influencer marketing appeared to cool in Q4, with usage of the #ad disclosure dipping 17.6% year-over-year.
“The research indicates that while social media advertising broadly continues to gain traction during the pandemic, the most effective tactics are changing with consumer preferences and the introduction of new technology”, socialmediatoday said.
Socialbakers says that Q4 2020 was a breakout period for the channel with marketers pouring steep investments into tactics that would engage homebound consumers and get them to shop during an uncertain holiday period.
LIVESTREAMING ON TOP
”Livestreaming has climbed to the top of the agenda and increasingly stands as an outlet to generate direct sales, with top platforms like Facebook, Instagram and TikTok integrating new shopping capabilities. Facebook Live was the most engaging format on the social networking site in Q4, per Socialbakers, while video made up 18% of all Instagram posts.”
Directly shoppable media, including livestreams, are forecast by the Interactive Advertising Bureau to become one of the fastest-growing advertising categories in the near future.