Emerging Technologies Shaping the Social Media Advertisement Market Landscape

The social media advertisement market has seen significant growth in recent years, driven by the increasing popularity and usage of social media platforms worldwide.

Increasing internet penetration coupled with rising social media users underwrote to the growth of the social media advertisement market. The tremendous growth in the number of social media users worldwide is expected for advertisement and marketing companies to focus on social media platforms to advertise their products and services.

According to The Next Web’s article published in January 2019 on Digital Trends, internet users across the globe were 4.38 billion with 57% infiltration in the total population. Moreover, social media users increased to 3.48 billion in January 2019, recording a growth of 9% or 288 million users, then in January 2018.

Therefore, rising internet infiltration together with the growth in the number of social media users across the globe is projected to drive the revenues for the social media advertising market.

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Currently, social media marketing professionals are gradually implementing artificial intelligence, since it can help to rise the revenue and diminish business costs. In social media marketing, several AI-powered tools exist to deliver insights from a brand’s social media profile and audience.

Brands often use AI to personalize email marketing campaigns based on consumer behavior and preferences. Presently, businesses are spending an extreme amount of money on influencer marketing to expand their reach among consumers.

Social media, in present times, is mostly controlled by influencers who receive PR kits by brands of every new launch, and are paid massive amounts to promote the same.

The existence of a brand on different social media platforms is a task and it’s easy to fall prey to the deadliness of similar content. It is critical for marketers to understand the target audience and create posts that surge audience engagement.

Social media marketing professionals are often focused on gaining followers and promoting a brand. They tend to forget that audience engagement not only increases credibility but also attracts new customers.

Therefore, brands need to know the audience better by appealing in conversations with them on social media platforms, at which they often fail. 

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COVID-19 scenario analysis:

• The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown restriction on movement has disrupted the supply chain across the globe but gave opportunities to the media industry and has positive impact on the growth of the social media advertisement market.
• The outbreak of COVID-19 pandemic implemented shutdowns in several country have brought about unprecedented changes in all industry segments – social media marketing and advertising industries are no exceptions. Presently, people are spending more time indoors, as a result of which content consumption has skyrocketed.
• In addition, it is notable to see the changes in consumer behavior and demand, purchasing patterns, re-routing of the supply chain, current market forces, and significant interventions of governments. 
• Furthermore, there are strong indications that the current decrease in demand for technology and digital solutions will be just a short-term phenomenon. In the medium-to-long run, the COVID-19 technology impact may be extremely positive. Everyone is forced to embrace new technologies and discover their benefits. Additional investments in digital infrastructure can be expected.

The social media advertisement market consists of promotional activities to connect with the audience to build the brand, increase sales, and drive website traffic on social media. Advertising refers to communication with the consumers of a product or a service.

Social media advertising or marketing includes generating and sharing content on social media platforms such as Facebook, Twitter, and Instagram to accomplish marketing and branding goals. It comprises activities such as image updates, posting text, videos, and other content that drive user engagement.

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According to market research reports, the global social media advertising market was valued at around $90 billion in 2020, and it is projected to continue growing at a rapid pace. Factors such as the growing number of internet users, particularly on mobile devices, the rise of influencer marketing, and the effectiveness of targeted advertising on social media platforms are contributing to this growth.

Additionally, the COVID-19 pandemic has accelerated the shift towards digital advertising, with businesses reallocating their advertising budgets to online channels, including social media. The ability to precisely target specific demographics, interests, and behaviors on social media platforms makes it an attractive option for advertisers looking to maximize their return on investment.

As businesses continue to recognize the importance of a strong online presence and the role of social media in reaching their target customers, the social media advertisement market is expected to see sustained growth in the coming years. Marketers are constantly innovating and adapting their strategies to capitalize on the opportunities presented by social media advertising, ensuring that it remains a dynamic and rapidly evolving sector of the digital advertising landscape.

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Key benefits of the report:

• This study presents the analytical depiction of the social media advertisement market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of global social media advertisement market share.
• The current market is quantitatively analyzed to highlight the global social media advertisement market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides detailed global social media advertisement market analysis based on competitive intensity and how the competition will take shape in coming years. 

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