Facebook Supremacy On Social Media
Roughly 90% of marketers prefer Facebook as their go-to platform for social media advertising, showcasing its enduring dominance in the ever-changing landscape of social media. Facebook, with its staggering 2.9 billion active users, retains its pole position as the most critical platform for both B2B and B2C marketers.
In 2023, as revealed by OnlyAccounts.io data, nearly 90% of marketers chose Facebook for their social media advertising endeavors, a substantial 10% more than Instagram and three times the number opting for TikTok.
Furthermore, it's evident that Facebook's appeal isn't waning, even as a long-standing player in the social media scene. The Social Media Examiner survey for 2023 underscores this, with 89% of marketers globally utilizing Facebook as their primary platform for promoting their businesses. Instagram comes in second place, with 80% of respondents leveraging it for advertising purposes. LinkedIn follows as the third most-used platform at nearly 65%. YouTube and Twitter hold respectable shares of 54% and 44%, respectively. In stark contrast, only 26% of respondents consider TikTok their preferred platform for social media ads, despite its rising popularity.
Looking ahead, the survey also offers insights into marketers' plans for utilizing social media platforms in the near future. Approximately 53% of marketers expressed their intent to increase their utilization of Facebook. In contrast, only 5% contemplated reducing their Facebook ad budgets. Comparatively, 66% of marketers plan to intensify their presence on Instagram and YouTube. Meanwhile, 43% intend to augment their TikTok advertising efforts. Intriguingly, 45% of respondents have no plans to employ TikTok for their ad campaigns.
In the global social media advertising market, Meta, the parent company of Facebook and Instagram, asserts its dominance with a significant 55% market share. This towering lead places it leagues ahead of LinkedIn, the second-largest player in social media advertising. Snapchat, Reddit, Pinterest, Twitter, and ByteDance command roughly 5% each of the global social media advertising revenue share.
Last year, brands allocated an astonishing $189.5 billion towards social media advertising. This figure is predicted to surge to $207 billion in 2023 and skyrocket further to $247 billion by 2027, according to Statista's projections.