About 90 percent with a preference for social media advertising are attracted to Facebook according to OnlyAccounts.io which shows that the patronage for the platform in 2023 was 10 percent more than Instagram and three times more than TikTok.
The social media landscape is constantly changing and evolving, with new players fighting for attention from audiences and marketers, but no platform stands close to Facebook which has since its inception dominated social media advertising. Buoyed by an active user base of 2.9 billion, the social media giant remains the most important platform among marketers on both the B2B and B2C sides.
The huge preference for Facebook shows that the social media must have raked in huge revenue social media according to Statista which noted that brands spent a whopping $189.5bn on social media ads last year. This figure is expected to increase to $207bn in 2023 and then jump to $247bn by 2027.
Although Facebook is one of the oldest players in the social media landscape, it is still the number one choice for most marketers according to a Social Media Examiner survey, which shows that Facebook was the most commonly used social media platform among marketers worldwide in 2023, with 89 percent of them using the network to promote their business.
Instagram ranked as the second most used platform for social media advertising, garnering an 80 percent share among respondents. Almost 65 percent of marketers have chosen to promote on LinkedIn, making it the third most used platform and YouTube and Twitter followed with 54 percent and 44 percent shares, respectively. Statistics show that only 26 percent of respondents named TikTok as their top platform for social media ads, or three times less than the leading Facebook.
The survey also revealed interesting data about how marketers plan to use social media platforms in the following years. Around 53% of them stated they would increase their usage of Facebook in the near future, while only 5 percent planned to cut their budgets for Facebook ads. Statistics also show that 66 percent of marketers will increase their usage of Instagram and YouTube, compared to 43 percent of those who plan to boost TikTok advertising. But, at the same time, 45 percent of them were not planning to use the video-sharing app for ads at all.
With brands pouring tens of billions of dollars into Facebook and Instagram ads each year, Meta remains the biggest brand in the global social media advertising landscape.
According to a Statista survey, Meta had a massive 55 percent market share last year, nearly four times more than LinkedIn, the second-largest social media advertising brand. Snapchat, Reddit, Pinterest, Twitter, and ByteDance all had around 5 per cent shares in global social media advertising revenue.
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