Source: TheDrum
A 40% overall increase in ad spend occurred for major social channels Facebook, Instagram, Twitter and Pinterest this quarter fueled in large part by new targeting capabilities like Pinterest tags and enhanced audience targeting, reported TheDrum citing Kinetic Social research.
Overall, Kinetic Social research saw spending on the platform triple from the second quarter, and increase five times year over year.
At the same time, Kinetic has seen Instagram spending grow to represent 20% of all the money its advertiser clients spend on social media advertising. While this is just one company, it’s still incredibly high and probably a harbinger of where spend could be going as Instagram continues to perform, the study suggests.
Remarkably, Pinterest engagement campaigns are up by 300% this quarter. Pinterest website click campaign spend tripled this quarter although the study reports a 40% drop in CPM and CPC on website click campaigns compared to the prior quarter. Twitter continues as an ideal mobile channel, the report suggests, with 93% of video views on Twitter, making it a major performance driver this quarter.
Overall, mobile placements have dramatically outperformed desktop placements for both CPC and CPA metrics, the research suggests although they continue to represent only about 60% of overall investment as some advertisers continue to struggle with cross device and cross platform ROI measurement.
According to the study, Facebook ad spend increased 50% from quarter to quarter, with better targeting results due to a rise in CPM. Mobile ads across Facebook and Instagram, including video ad units make up more than 75% of retail ad spend, demonstrating the increase shift to mobile ad purchases among consumers.
