Although the social media landscape is constantly changing and evolving, with new players fighting for attention from audiences and marketers, no platform stands close to Facebook when it comes to social media advertising. The social media giant, which has an active user base of close to 2.9 billion, remains the most important platform among marketers on both B2B and B2C sides.
According to data presented by OnlyAccounts.io, almost 90% of marketers chose Facebook for social media advertising in 2023, 10% more than Instagram and three times more than TikTok.
53% of Marketers Plan to Increase their Usage of Facebook in the Future
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 Social Media Examiner survey, Facebook was the most commonly used social media platform among marketers worldwide in 2023, with 89% of them using the network to promote their business.
Instagram ranked as the second most used platform for social media advertising, with an 80% share among respondents. Almost 65% of marketers have chosen to promote on LinkedIn, making it the third most used platform. YouTube and Twitter followed with 54% and 44% shares, respectively. Statistics show that only 26% 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% planned to cut their budgets for Facebook ads. Statistics also show 66% of marketers will increase their usage of Instagram and YouTube, compared to 43% of those who plan to boost TikTok advertising. But, at the same time, 45% of them were not planning to use the video-sharing app for ads at all.
Meta Holds 55% of the Global Social Media Advertising Market
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% 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% shares in global social media advertising revenue.
Last year, brands spent a whopping $189.5bn on social media ads. Statista expects this figure to increase to $207bn in 2023 and then jump to $247bn by 2027.