As one might expect, there are no signs of social media ad spending letting up in 2013. Why should it? It’s new, it’s relatively cheap (complain about that claim in the comments if you feel differently) and it’s ‘what’s hot’. It’s the last one that seems to get the attention of most marketers these days but that’s for another post.
Studies conducted by Digiday for Vizu as reported by eMarketer show that marketers are looking to increase spend. Some of the reasons for doing it, however, raise some questions. First, a look at the spend intentions.
Most are not putting a very large percentage of budgets to the efforts. In fact, it would be interesting to see what type of companies are investing higher percentages of budgets. Safe money would be on smaller companies that can’t afford other avenues of advertising.
Now the most interesting information which answers the ‘Why’ social media advertising is being used. For all of you “It can be measured to the ‘nth’ degree!” fanboys out there the main reason it’s being used sounds an awful lot like describing traditional advertising like TV.
Branding and brand opinions lead the way by far. In today’s world of ‘everything should be measured down to the sale’ thinking that is an awful soft metric to lob out there for an online technique.
So is social media advertising really any different than anything other than it being a different channel and being affordable (in some cases)? We like to scream ‘Yes!’ but what we are showing might be just saying ‘maybe’?