Are you using social media advertising to reach your ideal customer? Whether you are a business or a consumers the stats make interesting reading and of course you can interpret the statistics to mean whatever you want…
The first statistic shows that 78% of advertising spend is on traditional media, which isn’t bad when you consider every year someone writes that Radio / TV / Newspapers / Magazines are dead. Traditional media is here to stay but not in the formats we are currently used to. Social media sites such as Pinterest send a tremendous amount of traffic to magazines, so perhaps social media and traditional media are not enemies, but allies in the quest for consumer attention.
The second statistic shows us how US consumers view advertising – and I would think that stat is replicated worldwide. Consumers tend not to like advertising but it allows TV shows to be funded, magazines to grow and radio shows to operate… in other words advertising allows audiences to grow and to evolve but is tolerated. When we look at the third statistic about what kinds of advertising works, we can see that user-generated content is seen to be 27-28% effective by marketers and consumers. In other words influence is not effective as we think it is when it comes to getting goods sold and swaying consumer behaviour.
- U.S. advertisers spent over $37 billion on digital advertising in 2012, which amounted to 22% of all ad spending. https://www.emarketer.com/Coverage/AdvertisingMarketing.aspx
- Over half of U.S. consumers describe online advertising as “annoying” (68%) and “distracting” (51%). http://www.adobe.com/aboutadobe/pressroom/pdfs/Adobe_State_of_Online_Advertising_Study.pdf
- 36% of consumers and 49% of marketers consider advertising created by professional marketers the most effective form of advertising. 28% of consumers and 27% of marketers, however, believe that user-generated content is most effective. http://www.adobe.com/aboutadobe/pressroom/pdfs/Adobe_State_of_Online_Advertising_Study.pdf
- Earning the consumer’s trust is particularly important when it comes to online advertising. Only 40% of consumers say that they trust ads served by search engines somewhat or completely. 36% trust online video ads and ads on social networks, 33% trust online banner ads and mobile display ads, and 29% trust mobile text ads. http://blog.nielsen.com/nielsenwire/nielsen-news/trust-in-advertising-%E2%80%93-paid-owned-and-earned/
- Although 33% of social media users say that ads on social networking sites are more annoying than other online ads, 17% feel more connected to brands that they see on these sites. http://blog.nielsen.com/nielsenwire/social/2012/
- 15% of social network users have shared ads on social networks, and 26% have liked such ads. http://blog.nielsen.com/nielsenwire/social/2012/
- 14% of social network users have purchased a product as a result of a social ad. 10% purchased a product online, and 8% made a purchase at a store. Also, 18% of users purchased or obtained a coupon as a result of a social ad. http://blog.nielsen.com/nielsenwire/social/2012/
- Ad click-through rates vary by browser. Opera users have the highest click-through rate at 2.12%, followed by Safari Mobile users (1.54%) and Internet Explorer users (1.14%). http://insights.chitika.com/2012/web-usage-infographic/
- In the third quarter of 2012, U.S. online advertising revenues reached a record $9.26 billion. This represented an 18% year-over-year increase. http://www.iab.net/about_the_iab/recent_press_releases/press_release_archive/press_release/pr-121912
- North America is the region that spends the most on online advertising, accounting for 41.7% of global ad spending in 2011. Western Europe comes in second at 28.8%, and Asia-Pacific is third with 24.1%. http://www.go-gulf.com/blog/online-ad-spending/
From these stats my conclusion is simple, if you want to reach your target market you need to interact where they are and where they feel the most comfortable as advertising where they hang out doesn’t generate the results that you think. If you are a small business thinking about using social media for advertising my advice would be go and set up an autoresponder as email advertising has a far bigger return on investment and as far as I am aware, no one has declared email dead yet this year
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