Some of eMarketer’s latest stats are now showing that this year will already reach $15.5 billion in SMM ad revenue.
It is no great surprise that social media marketing is increasing in its use, but according to research from eMarketer, this form of advertising is also consistently breaking spending records and will continue to do so for the foreseeable future.
Advertising over SMM is expected to reach a tremendous $36 billion by the year 2017.
This represents a tremendous amount of growth from what is predicted for this year. The research from eMarketer also indicates that the social network that will be experiencing the greatest benefit from this advertising trend will be Facebook. As the popularity of these networks continues its increases among consumers, advertisers are catching on to the potential at a growing rate. This is causing them to spent more in order to be able to make contact with their target market in a more meaningful and effective way.
This year, advertisers around the globe wills spend nearly $24 billion on social media marketing.
The eMarketer research has predicted that this will represent an increase of 33.5 percent over the spending for social media advertising, last year. In only two years from now, the use of social media for ads and marketing will make up 16 percent of the worldwide digital ad spend.
The top spenders on SMM will be located in the United States and Canada, where it is anticipated that marketers will be boosting their payments to the various social networks by a whopping 31 percent in 2015, alone. This will bring the amount of spending on that medium up and beyond the $10 billion mark for the first time in history.
When looking at it from the perspective of the breakdown for individual users, this actually represents a spend of over $50 per user throughout the social networking universe. That amount has been predicted to rise to reach $71.37 per user within the span of the next couple of years, said the data and forecasts in the eMarketer report.
The market that will come in second for social media marketing spending in that time will be the Asia-Pacific region, where there will be a predicted spend of $7.4 billion. Third place will belong to Europe, where they will spend $4.74 billion.