Almost 90% of entrepreneurs select Facebook for social media promoting

Though the social media panorama is continually altering and evolving, with new gamers combating for consideration from audiences and entrepreneurs, no platform stands near Facebook relating to social media promoting.

The social media big, which has an energetic person base of near 2.9 billion, stays an important platform amongst entrepreneurs on each B2B and B2C sides.

In keeping with knowledge offered by OnlyAccounts.io, virtually 90% of entrepreneurs selected Facebook for social media promoting in 2023, 10% greater than Instagram and thrice greater than TikTok.

53% of Entrepreneurs Plan to Enhance their Utilization of Facebook within the Future

Though Facebook is likely one of the oldest gamers within the social media panorama, it’s nonetheless the primary selection for many entrepreneurs. In keeping with Social Media Examiner survey, Facebook was probably the most generally used social media platform amongst entrepreneurs worldwide in 2023, with 89% of them utilizing the community to advertise their enterprise.

Instagram ranked because the second most used platform for social media promoting, with an 80% share amongst respondents. Almost 65% of entrepreneurs have chosen to advertise on LinkedIn, making it the third most used platform. YouTube and Twitter adopted with 54% and 44% shares, respectively. Statistics present that solely 26% of respondents named TikTok as their high platform for social media advertisements, or thrice lower than the main Facebook.

The survey additionally revealed attention-grabbing knowledge about how entrepreneurs plan to make use of social media platforms within the following years. Round 53% of them said they might improve their utilization of Facebook within the close to future, whereas solely 5% deliberate to chop their budgets for Facebook advertisements. Statistics additionally present 66% of entrepreneurs will improve their utilization of Instagram and YouTube, in comparison with 43% of those that plan to spice up TikTok promoting. However, on the similar time, 45% of them weren’t planning to make use of the video-sharing app for advertisements in any respect.

Meta Holds 55% of the World Social Media Promoting Market

With manufacturers pouring tens of billions of {dollars} into Facebook and Instagram advertisements every year, Meta stays the most important model within the international social media promoting panorama.

In keeping with a Statista survey, Meta had a large 55% market share final 12 months, practically 4 instances greater than LinkedIn, the second-largest social media promoting model. Snapchat, Reddit, Pinterest, Twitter, and ByteDance all had round 5% shares in international social media promoting income.

Final 12 months, manufacturers spent a whopping $189.5bn on social media advertisements. Statista expects this determine to extend to $207bn in 2023 after which soar to $247bn by 2027.

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Tags: Advertising, facebook, instagram, Social Media, tiktok