52% of retail advertisers want to increase paid social ad budgets in 2020

Paid social advertising seems to be working for retailers because 52% of retail marketers have plans to increase their budgets for this advertising type.

That’s according to a new survey by Smartly.io, which found that at least half of retailers have budgeted half of their annual marketing dollars for social media adverts.

Almost all (96%) of retail marketers want to boost their spending on Facebook. The social network came out on top as the favourite platform among marketers.

Another 56% plan to increase media spending on Twitter, whilst just 22% said they would spend more on Instagram.

Over a third (36%) of survey respondents said they were already spending most of their ad budgets on Facebook. Just under half of them (41%) said that Facebook offered the best return on ad spend (ROAS).

Instagram was a preferred ad network among 29% of marketers.

But the report remarked:

“Although marketers understand all the social ads offer, and now see a positive return on their dollar, many admit that the process is often still too manual and inefficient to easily manage. This too often forces teams to spend too much time on the nuances of campaign building, management, and analysis — which can significantly reduce their ability to actually act on a campaign’s results. Fortunately, technology affords a solution to that challenge.”

The results of the report show that 83% of retail marketers believe that there is room for improvement in terms of automating the ad creation process and 66% do not use automation technologies.

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