Instagram is fast emerging is one of the favourite marketing platforms among retailers.
Some 90% said they bought ads on the platform in 2020 compared to 56% in 2019 – growth that’s without a doubt driven by lockdowns motivating more shoppers to buy online.
According to a survey by social advertising platform Smartly.io, based on the answers of 300 marketing executives, 74% of marketers currently allocate 31% more of their marketing budgets to social media ads.
Around 12% allocate 51% or more.
“The past year has proved the prominence of social media within the marketing stack,” said Robert Rothschild, VP and global head of marketing at Smartly.io. “Retail marketers have always understood the value that social media advertising brings to their campaigns, but with a global pandemic accelerating the shift to digital, it has been an essential ingredient to engaging with the right consumers.”
“While our recent research indicates creative remains the primary performance lever, many retail marketers acknowledged that their social media advertising and creative teams still do not collaborate effectively at all stages of the marketing process. In 2021, it’s time to bridge the gap between performance and creative teams, and invest in technology to scale creative and improve ad performance that will empower teams to work more seamlessly – even in a remote environment.”
The study also found that companies plan to increase their ad spend on social channels in 2021 – Facebook (76%), Twitter (44%) and Instagram (38%).
While around 36% of companies are currently spending more on Facebook, 42% said they see a better return on ad spend on Instagram compared to 21% in 2019.
Most (72%) said they social media ad creation and delivery involved manual processes that are time-consuming.