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The social media advertisement market consists of promotional activities to connect with the audience to build the brand, increase sales, and drive website traffic on social media. Advertising refers to communication with the consumers of a product or a service. Social media advertising or marketing includes generating and sharing content on social media platforms such as Facebook, Twitter, and Instagram to accomplish marketing and branding goals. It comprises activities such as image updates, posting text, videos, and other content that drive user engagement.
COVID-19 scenario analysis:
Top impacting factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
Increasing internet penetration coupled with growing social media users
Increasing internet penetration coupled with rising social media users underwrote to the growth of the social media advertisement market. The tremendous growth in the number of social media users worldwide is expected for advertisement and marketing companies to focus on social media platforms to advertise their products and services. According to The Next Web’s article published in January 2019 on the Digital Trends, internet users across the globe were 4.38 billion with 57% infiltration in the total population. Moreover, social media users increased to 3.48 billion in January 2019, recording a growth of 9% or 288 million users, then in January 2018. Therefore, rising internet infiltration together with the growth in the number of social media users across the globe is projected to drive the revenues for the social media advertising market.
Rising need of AI in social media market
Currently, social media marketing professionals are gradually implementing artificial intelligence, since it can help to rise the revenue and diminish business costs. In social media marketing, several AI-powered tools exist to deliver insights from a brand's social media profile and audience. Brands often use AI to personalize email marketing campaigns based on consumer behavior and preferences. Presently, businesses are spending an extreme amount of money on influencer marketing to expand their reach among consumers. Social media, in present times, is mostly controlled by influencers who receive PR kits by brands of every new launch, and are paid massive amounts to promote the same.
Continual demonstration of original content enhances social media marketing industry
The existence of a brand on different social media platforms is a task and it's easy to fall prey to the deadliness of similar content. It is critical for marketers to understand the target audience and create posts that surge audience engagement. Social media marketing professionals are often focused on gaining followers and promoting a brand. They tend to forget that audience engagement not only increases credibility but also attracts new customers. Therefore, it is important for brands to know the audience better by appealing in conversations with them on social media platforms, at which they often fail.
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