Social Media Marketing is the ability to reach and engage with a wide audience.
The Social media advertising spend is projected to reach $219.8 billion in 2024, with mobile generating $255.8 billion of this total by 2028.
In 2024, there will be around 5.17 billion total social media users worldwide. The total spend on social media ads accounts for 28.8% of all social media platforms.
Businesses put around 8.7% of their total revenue towards their advertising budgets.
Now discuss some social media platform investments and their ROI.
Facebook is the most visited website after Instagram and YouTube. The platforms boots 3.065 billion active users on a monthly basis in worldwide. 2023, Facebook’s total ad revenue amounted to $135 billion.
There are 2 billion monthly users active on Instagram worldwide.There are 200 million active business accounts on Instagram, and 90% of users follow at least one brand on Instagram.80% of marketers use Instagram for promoting products, and 68% of brands confirm positive ROI from Instagram.
WhatsApp has reached an impressive milestone, with over 2.7 billion active users now using the platform worldwide. WhatsApp business had reached actively 200 million users in 2023, and 40 million users view the WhatsApp business catalog monthly to discover products and services.
YouTube generated $3.1 billion in global advertising revenue in 2023. 90% of marketers use YouTube for their video marketing efforts.78% of marketers see YouTube as an effective channel for video marketing, and 67% of B2C marketers use YouTube for their content marketing.