MJ and Lebron. Messi and Ronaldo. Tiger and Arnold.

But what about social media and YouTube advertising? 

Both are firmly entrenched at the top of the digital advertising world. Through April, 43k companies across industries such as Media & Entertainment, Retail, Technology, Apparel, and Finance, spent almost $14.3b on ads across Instagram, Facebook, Twitter, and YouTube, representing 69% of the digital spend during that time ($20.5b). 

But which ecosystems do advertisers actually favor? 

SMBs Ride Solo with Social Media

A staggering 88% of companies (37k) that invested in social media or YouTube ads did so on one or the other, and we can attribute much of that to the love affair between small-to-medium businesses (SMB) and social media. 

Through April, 75% of advertisers (31k) spent exclusively on Facebook, Instagram, or Twitter, collectively spending $2.1b, with much of that spending coming from Retail ($1.2b) and Apparel ($693mm) advertisers. Retail advertisers collectively spent $1.2b on social media ($523mm on YouTube). At the same time, Apparel advertisers spent more than $693mm on social media ($172mm on YouTube).

The investment by SMBs and industry-specific advertisers is nothing new. Through August 2022, we found that 57k out of 64k (~89%) investing in Facebook and Instagram spent less than $1mm.

It also speaks to the investment by major social players, namely Meta, in helping smaller advertisers.  

For example, Meta introduced Meta Pro Team in June 2022 to provide more customized guidance to SMBs. A month later, the social media giant launched Small Business Studios, a virtual and in-person initiative to support small businesses. Mature advertising technology and a track record of ROI also go a long way in attracting advertisers with limited budgets.  

For Retail and Apparel advertisers, sizable investments in Facebook, Instagram, and Twitter come as consumers continue to embrace these channels as a critical part of their buying journey. 

While social commerce hasn’t gained the momentum most expected, largely because most consumers don’t want to make purchases directly on the platform, the social giants aren’t abandoning the projected $53b in social commerce sales this year. 

Nicole Silberstein of Retail TouchPoints said it best: “That’s a lot of money [$53b in social commerce sales] to walk away from, and Meta isn’t…So while Meta has indeed removed some shopping features from its sites—most recently live shopping and the Shop tab on Instagram— these changes are more about shifting strategies than a signal of defeat.

As Meta and the rest of the social community shift, Apparel and Retail advertisers will likely continue to embrace the power these channels have over consumers. 

The Elon effect 

Twitter’s unlikely to give up its status as a social mainstay, but it’s hard to ignore the seismic impact of Elon Musk’s acquisition, especially on ad revenue. Despite Musk declaring that “almost all advertisers have come back,” Twitter’s ad revenue fell by 59% to $88mm for the five weeks from April 1 to the first week of May. 

Twitter’s advertising ecosystem is also taking shape under the watchful eye of new CEO Linda Yaccarino, who previously overhauled NBCUniversal’s (NBCU) ad sales business and launched Peacock in 2020.

Despite a rocky stretch, Yaccarino’s appointment may be the saving grace for Twitter’s ad revenue and enough to convince advertisers its inventory is worthy. 

Dave Campanelli, the Chief Investment Officer of Horizon Media, said he hoped for change after Ms. Yaccarino started because “media agencies like his struggled to maintain contact with Twitter last fall after Mr. Musk arrived.”

He said, “For a period, we weren’t even sure who to get on the phone with to talk to. With Linda coming in, that could change that in a big way.”

YouTube Carves Out a Niche 

Through April, 7k companies, including mobile and online gaming company Come2us Studios (Summoners Wars and MLB 9 Innings 23), collectively spent $426mm on YouTube-exclusive strategies.

The love for YouTube from Come2us Corporation comes in the wake of online gaming’s boom on YouTube during the pandemic. In Q3 2022, people watched more than 1.2b hours of content on YouTube Gaming Live. Despite that being a sizable drop from the all-time high in Q4 2020 (1.9b), there’s no denying the gaming community’s collective embrace of the video goliath. In Q2 2018, people watched just 428mm hours of content on YouTube Gaming Live. 

Advertisers at VidAngel and Pancake Pillow also went exclusive with YouTube ads, the latter of which invested more than $9mm on online video (OLV), primarily between 46-60 seconds. More than 80% of those dollars went to ads on channels related to Kid’s Education & Entertainment, Music, and Society & Culture. 

Advertisers in the Technology, and Media & Entertainment industries also fancied YouTube through April 2023. (Technology advertisers, including Wix.com and T-Mobile, invested 57% of their budget in YouTube, while Media & Entertainment advertisers invested more than 55% in the video platform.)

For example, advertisers for Warner Bros. Discovery, Paramount Global, and the Walt Disney Company invested 88%, 81%, and 56% of their budgets in YouTube. For advertisers at Disney, that strategy shaped up primarily with ads running in tandem on YouTube’s music channels. 

Is There Really a GOAT Debate?  

It depends on who you ask. 

While just 12% of advertisers invested in social media and YouTube through April, the overwhelming fondness for social media, especially Meta, among SMBs skews the data. 

Remember: More than 30k advertisers invested only in Facebook, Instagram, or Twitter.
While that’s a rational move given social media’s track record and growing sway over consumers, there’s still inventory—and performance gains—on the table for many advertisers across industry lines. 

For more insights, sign up for MediaRadar’s blog here.

Even more staggering is that over 1.5k companies have spent $500k+ on these platforms; nearly 90% of them also invested in other channels, including OTT, display, video and YouTube.

However, there are some major misconceptions floating around about the value of social media and how to use it in advertising. We hear a few of them regularly—and now we’re here to do some social media mythbusting.

Here are 5 social advertising myths you should ignore and what you need to know to debunk them.  

1. Social Media Advertising Insights Aren’t Important

“I’m not a social platform, so these insights don’t mean anything.”

Please, never say that again. 

As of January 1, more than 332mm people lived in the United States.

In Q1, Facebook reported 264mm monthly active users (MAUs), meaning that roughly 80% of the US uses Facebook. 

Instagram can’t tout quite the same numbers, but it’s holding its weight, with more than 35% of the country logging in monthly. As Instagram continues to soar past its big brother—Instagram contributes more than half of Facebook’s ad revenue—that 35% will rise quickly.

This story repeats itself across the social media world. 

Advertisers know this, which is why social ad spending continues to rise. As more inventory becomes available and more of everyday life transitions to the social world, ad spending will follow. 

Here’s why that’s important: these advertisers are also spending outside social’s hallowed walls. Understanding how they’re spending on social is fundamental to telling the broader omnichannel story.

2. Social Media Companies Aren’t Fighting for the Same Advertisers As Me

If you’ve heard it once, you’ve heard it a thousand times. 

My audience isn’t on social media. 

In this case, the phrase would be, “Social media advertisers aren’t my advertisers.” 

For whatever reason, despite more than 70% of Americans using social media and advertisers pouring billions into it, the belief that certain parties aren’t part of the social world persists.

In reality, nearly everyone uses social media, and as younger generations gravitate to newer platforms—like TikTok—and consider the likes of Instagram as gospel, this won’t change.

Advertisers know this, which is why social spending on major platforms will continue to rise.

As long as these platforms offer advertisers a frictionless way to reach a large part of the addressable online world with absolute precision, their audience is your audience. 

3. Meta’s Not a Threat

Few companies have experienced more ups and downs than Mark Zuckerberg’s darling. 

In the beginning, many people hailed Facebook and Zuckerberg as heroes. An article published by Wired in 2007 went as far as to say that Facebook is “the world’s hottest platform.” 

Early investment by Microsoft and rapid user growth made Facebook as close to an overnight success as you can get in the tech industry. 

Unfortunately for Facebook, headlines turned, especially of late. 

Between privacy scandals, a pivot into virtual reality that has people laughing, and an identity crisis, many people are under the impression that Goliath is falling.

When Meta, Facebook’s parent company, announced that it lost money for the first time, those thoughts seemed like they were becoming a reality. 

But counting Meta out now would be a colossal mistake. 

While there’s no denying that Meta is struggling in the press, it’s doing fine from an advertising standpoint. 

In H1 2022, Meta reported just shy of $60B in ad revenue, and it’s showing no signs of resting on its laurels. 

Last month, Facebook expanded the Meta Advantage ad suite to help businesses generate more sales. It also introduced Meta Boost Small Business Studios to provide small businesses training, inspiration and networking.

For better or worse, as long as users and advertisers are flocking into Meta’s kingdom—like these Facebook advertisers to watch in Q3—its reign will continue. 

4. Twitter Is Just for Crypto Advertisers

Elon Musk shocked the world (again) when news broke that he was buying Twitter. 

After some back and forth that saw the world’s richest person question the number of bots on the platform and a whistleblower calling attention to security holes, the deal went through. 

As of Tuesday, September 13, 2022, Elon Musk owns Twitter.

While people worldwide scratched their heads, certain advertisers were chomping at the bit. 

We’re talking about crypto advertisers.  

Since news broke that a deal was in the works, the biggest names in crypto, including Coinbase and Crypto.com, have invested millions in Twitter ads. Other advertisers that align with Musk’s persona, including many in the financial industry, have also upped their spending. 

That said, will crypto’s recent collapse impact how these advertisers are spending?

Absolutely. 

But Musk’s ties to the industry will continue to attract these niche advertisers. (It’ll be interesting to see how things develop now that he officially owns the platform though.)

There’s no denying that crypto advertisers are finding a home inside Twitter’s walls, but it’s still a far cry from a crypto paradise. 

Through the first six months of 2022, less than 3.5% of Twitter’s ad revenue came from these advertisers, making it clear that the platform is still very much in play.

That said, Twitter’s approach may differ slightly from the other major players. While the likes of Facebook and Instagram attract the masses, Twitter may home in on more niche audiences (and advertisers), including those in gaming and video streaming.

5. Instagram Only Caters to Influencers

Influencer marketing continues to gain steam as consumers make it clear that they trust their peers much more than brands. 

With influencer marketing spending slated to surpass $4b this year and $5b in 2023, it’s impossible to ignore Instagram’s role in it all (right alongside TikTok’s). 

The rapid ascent of influencer marketing on Instagram and other platforms could lead some to believe that these ecosystems are catering directly to them—and they are. 

Instagram’s made it clear that influencers will be a big part of its M.O. moving forward. 

In July, Instagram launched new tools for creators to connect with subscribers. The month before, it added more ways for creators to make money. 

But it’s important to remember that Instagram isn’t a one-trick pony. It’s far too big for that. 

Instagram—which is projected to reach nearly $40b in ad revenue next year—attracts dollars from all corners of the advertising world, including SMBs, B2B and everything in between. 

No matter how many brands take advantage of the influencer craze, the widespread appeal won’t fade. Instagram will remain an advertising option for advertisers of all stripes.

Don’t Believe All the Headlines and Hype

The advertising industry is no different than any other; headlines and hype are everywhere.

Some of these talking points deserve your attention—like retail media eating into social advertising budgets and the TikTok takeover—but some don’t deserve the time of day.

We’re talking about the downfall of Meta, a crypto takeover on Twitter and an influencer-only Instagram. 

Do these headlines matter? 

Of course. Any turbulence and slight development will impact advertising strategies.

But these are just storylines in the greater plot. If you assume they’re the story’s beginning, middle and end, you’ll leave opportunities on the table. 

Don’t let that happen.

For more insights, sign up for MediaRadar’s blog here.

Now, sales teams using MediaRadar can access Twitter and Instagram ad spending—in addition to Facebook, Snapchat and other ad ecosystems—to improve prospecting, create more compelling pitches, connect with the right media buyers and more. 

“The advertising landscape is constantly changing, and social media has become an important part of ad buys,” MediaRadar co-founder and CEO, Todd Krizelman, said. “By adding Twitter and Instagram to our social tracking, we’re providing a more accurate omnichannel view of any brands’ media mix.”

Omnichannel: From Buzzword to Backbone

When the word “omnichannel” first arrived around 2012, industry pros used it as a buzzword to describe the surge in all things digital.

In just a few years, the average person went from digital minimalism—just 35% of respondents in a 2011 survey owned a smartphone—to digital overload. 

According to a 2014 article from Vox, more than 90% of U.S. households had “digital devices pinging the Internet.”

As this connected lifestyle took hold, marketers and media buyers fought to wrap their heads around the idea of doing their jobs in this increasingly fragmented world. 

To say it’s been a struggle would be an understatement—and it’s only getting harder. 

Today, the average household has access to 25 connected devices. 

For sellers, understanding this connected world is key, but it’s even more important to understand it in the context of their prospects and customers. 

Omnichannel is no longer a buzzword. 

It’s the backbone of nearly every digital ad strategy.

Building a 360-degree view for social media spending

If a seller—however experienced they may be—can’t walk into the room (or log into Zoom) and deliver an all-encompassing pitch that considers every digital touchpoint, they won’t close deals. 

To turn potential deals into dollars, sellers need a 360-degree view of spending across all channel, including spend distribution, spend by product line and creative executive. 

Social networks are a huge part of this.

“Understanding which channels their prospect values the most helps media sales teams create a compelling pitch,” Krizelman said.

Social media ad spending is projected to reach $56b this year, representing an increase of more than 270% in less than a decade.

Instagram and Twitter are cogs in this growth engine, which is why we’re so excited to add them to our suite of products.

By 2023, Instagram’s expected to generate about $40b in ad revenue. 

While Twitter has historically struggled to keep pace in terms of users and ad revenue, Elon Musk’s acquisition (if it goes through) could provide a much-needed boost and get some advertisers excited. 

Regardless of their current state, these platforms are integral to most strategies, meaning that sellers need visibility into how companies are spending in these ecosystems. 

With Twitter and Instagram insights now part of the MediaRadar toolkit, they can do that and get the holistic view of spending required to close deals.

MediaRadar insights in action: Microsoft

Here’s an example of what that could look like for a seller looking at Microsoft (as it relates to Twitter and Instagram):

Based on this data, Microsoft spent very little on Twitter and Instagram in Q1.

The seller can look at this from a couple of angles: 

• Use it as an opportunity to pitch Microsoft on a social strategy, i.e. “you’re not advertising on these channels, but should be.” 
• Use it as an opportunity to pitch a Microsoft competitor on a social strategy as a way to fill a gap, i.e., “Microsoft isn’t advertising on these channels, which is why you should be.”   

How a seller uses this information will vary, but idea remains the same: This data added value to the pitch by offering relevant insights that apply to them and market.

Selling is Hard; MediaRadar Makes it Easy

Just 3% of buyers trust sellers.

Forty percent of salespeople say prospecting is the most challenging part of the process.

Sixty percent of customers say “no” 4 times before saying “yes.”

While there’s no secret sauce to eliminate these challenges, data does help navigate them.

Approaching buyers with relevant and timely insights can build trust. 

A holistic analysis can help sellers rank leads and improving prospecting. 

Highlighting gaps in a strategy can create urgency and accelerate deals.

The list goes on. 

MediaRadar brings these insights front and center. 

With Twitter and Instagram now a part of our ad intelligence tools—the same ones that already include comprehensive data on digital, print, events, and TV advertising—sellers and others using MediaRadar can get a true omnichannel view of the advertising world.

For more insights sign up for MediaRadar’s blog here.

That’s probably not a question you thought you’d ever ask, but here we are. 

If you don’t know, Elon Musk, the world’s richest person, bought Twitter for $44b. 

That sentence alone may be shocking, but there’s more. 

According to reports, he bought Twitter for $54.20 per share. That’s 38% above the company’s share price earlier this month, which seems like a lot for a company that’s experienced its fair share of growing pains.

The second shockwave comes from how long it took him to close the deal. 

Musk Tweeted about his desire to buy Twitter on April 14, 2022. 

The sale went through less than two weeks later. 

Basically, he decided to buy Twitter, which cost him more than the GDP of some developed countries, in less time than we’d spend deciding if we want the new iPhone. 

Shockwaves aside, Twitter’s change in ownership has real-world implications—and not just for its more than 200mm users. 

Advertisers will be impacted, too. 

It’s Elon’s Twitter and Advertisers Are Just Living in It

A quick Google search about Musk’s purchase would make it clear that most people are concerned with more foundational elements of the platform—think unbanning former President Donald Trump and open-sourcing Twitter’s algorithm. 

These aren’t necessarily the topics advertisers are worried about, though. 

For them, the pressing question revolves around what will become of Twitter’s advertising capabilities. 

If it were up to Musk, a lot would change. But, in reality, that’s unlikely—at least in the short term. 

Despite his desire to move away from advertising (in 2019, he tweeted that he “hated advertising”), this is how Twitter makes money. 

In 2021, 89% of its revenue came from ads. And now, Musk has a fiduciary responsibility to keep Twitter in the green. 

Cutting ad revenue from the equation would do the exact opposite. 

So, what will change? 

Crypto advertisers may dive deeper into Twitter given Musk’s long-standing interest in the technology, which he made clear when he expressed his wish to introduce dogecoin payments to Twitter. 

In Q1, 25 digital currency brands were advertising on Twitter, including one of the biggest names in the digital-currency world, Crypto.com. 

That said, Twitter ads are likely the last thing on the minds of crypto advertisers. 

Just this week, the crypto market lost more than $200mm as people sold their assets in the wake of massive crashes from Bitcoin and Ethereum. 

The Cryptocurrency trading platform, Coinbase, also lost half its value. 

While crypto advertisers may not be the first ones to take the plunge in light of recent events, the message is all the same: There are a ton of supporters and companies that align with Musk’s values. 

Expect many of them to dive head-first into Twitter advertising.

The Wild West of Twitter: Free Speech + Big Brands?

At the same time, Musk’s desire for a less-regulated Twitter could scare national consumer brands away that may be worried about Twitter turning into the Wild West.

Just this week, Musk said, “Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated.”

For big blue-chip companies that have historically demanded clean and brand-safe environments, this very well may be reason enough to flee.

The premium these brands place on brand safety is why other big names in the advertising world have made massive investments to curb hate speech and create those safe environments. 

YouTube, for example, seriously improved its advertising policies and tools following a mass exodus of more than 250 brands, including Toyota, Heinz and Tesco, that were concerned about their ads appearing alongside extremist and offensive content. 

If Twitter can’t show brands that it’s making a concerted effort to keep its ecosystem safe and free from controversial content, many of them will go somewhere that can. 

To illustrate what’s at stake for Twitter, in March 2022, brands with the highest concentration of ad spend included Apple, AT&T, Meta, NBCU, Alphabet and The Walt Disney Corporation. 

Most of the major names in the streaming world are also buying ads, including HBO MAX, Peacock, AppleTV+, PlutoTV, Netflix, Twitch, Crave, ESPN+ and AMC+.

Twitter’s Advertising Future Hangs in the Balance

Less than a month after one of the world’s most interesting people bought one of the world’s most popular social media platforms, we wait. 

For better or worse, it’s too soon to predict Twitter’s future. 

Will it become a haven for free speech? Maybe. 

Will Twitter’s algorithm open to the masses? Potentially. 

Will the edit button make its long-awaited debut? It looks like it.

Will Twitter change in some way, shape or form in the coming months and years? Absolutely. 

Given that Twitter is a key cog in the advertising engine of many, it’s entirely reasonable that the long list of potential changes would cause some concern. 

Time will tell what’s next for Twitter, but what’s important to take away right now is that Musk has a fiduciary responsibility to keep the company profitable. 

Considering nearly all of its revenue comes from ads, it’s hard to imagine any significant changes taking shape in the immediate future. 

But, with Elon Musk, you never know.

WeWork went from a failed IPO worth almost nothing to a public company (via a merger with a SPAC) worth $9 billion in just two years. This would be a huge accomplishment for any company, but it’s even more significant when you consider how it came back during a pandemic.

“You’ve said this is a story with drama,” said WeWork Executive Chairman Marcelo Claure. “Sure, this is a story where a lot of people wrote documentaries that it was the end of WeWork. Well the resistance, the persistence of these people is incredible. This company is here, is stronger than ever, and no doubt that we’re going to be celebrating many more milestones.”

The shared office space company is finishing the year out on a high. How has this optimism and persistence impacted their advertising?

WeWork celebrates going public

If you’re unfamiliar with WeWork, WeWork is a company that leases out office space. When you walk into an office, you see modern furnishings and a comfortable space for freelancers, small businesses, startups and even large businesses. More than 50% of Fortune 100 companies have WeWork membership access. 

In 2019, the company was planning its IPO when plans came crashing down. Concerns about unsustainably fast growth, along with the management style of eccentric and party-loving co-founder Adam Neumann and other red flags led to the implosion of the public offering. 

Now, more than two years later, WeWork finally made it to the New York Stock Exchange. 

“We got here on a different road than we anticipated, but we’re here,” remarked Claure.

Though the pandemic hit WeWork particularly hard, leaders feel optimistic about the future. The business has signed a $150 million partnership with commercial brokerage giant Cushman & Wakefield. Together, they will help provide flex-office setups for corporate service clients. 

In the lead up to going public last month, how did WeWork advertise?

MediaRadar Insights

This year (Q1-Q3 2021), WeWork spent just over $2 million in digital advertising. Their spend is down only 7% from the same period in 2020.

To put this in perspective, in 2019 (January – September), though their valuation was set at over $40 billion, WeWork spent less than $1 million in advertising across formats. 

When we look at their advertising spend month over month, we see that their spend has been concentrated in Q4 2020, Q2 and Q3 2021. These peaks coincide with their new partnerships with Cushman (Q4 2021) and in anticipation of their recent IPO.

Almost all of their spending is digital, with a heavy emphasis on Facebook and podcast purchases.

Their focus in social media (Facebook) and podcasting indicates that their target audience is millennial-aged working professionals.

The B2B working environment is in a significant time of transition. As businesses experiment with hybrid models of working and individuals eagerly seek some days out of their home office, WeWork is marketing itself as the environment in which people can thrive.

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy. 

But during the pandemic, older generations turned to social media than they did ever before. 

For some, it was a primary way to communicate with family and get updates about the virus. For others, newly in retirement or close to it, it might just have been something to do without time in the office or activities outside the home. 

Retirement services are aware of how much time older generations spend on the internet. With increased social media usage this past year, retirement services have invested more in programmatic advertising. 

Baby Boomers Use Social Media for Learning

According to Pew Research, 45% of individuals ages 65 and older use at least one social media site and 73% of 50- to 64-year-olds use social media. Of all the social media platforms, Facebook has the highest number of users in these age ranges.

The numbers clearly indicate that older individuals are on the platforms. When you look deeper, older generations interact with social media differently than younger generations. 

“Rather than taking selfies or giving out information regarded as personal, these older users enjoy filling up their timelines sharing articles, photos, and videos relating to their interests, and do so quite frequently,” explains Jake Tully, head of the creative department at Trucking Unlimited. “With this in mind, we try to cultivate an online presence with news stories that may bring the opinionated people out of the shadows.”

Older generations treat social media as a place of sharing ideas, hobbies and learning (with bonus pictures of grandbabies). This makes it a great place for learning about something that matters greatly for their current stage of life—retirement. 

How are retirement services trying to build brand awareness, educate and attract customers with programmatic advertising?

MediaRadar Insights

Financial services—and retirement services specifically—have been buying much more than last year.

Across formats, retirement services spending was up 37% year-over-year between January and August. But programmatic placements specifically were up even more. In the same time period, buying was up 63%.

Month-over-month growth within the programmatic space is slowly starting to decrease, but in August spend is still up 68% year-over-year ($20.4 million in 2021 vs $12.1 million in 2020). 

The largest yearly growth was in January at 119%. But the largest difference in spend was in June 2021 where retirement services spent $23.4 million in programmatic advertising vs $11.9 million in 2020.

Between May and June 2021, we saw the largest jump in spend, an increase of 38% month over month.

In digital spend, programmatic advertising made up 54% total digital spending in 2021 (Jan – Aug).

When we look at specific companies, we found that:

• 54% of digital spend from Charles Schwab is programmatic.
• 47% of digital spend from Fisher Investments is programmatic.
• 31% of digital spend from TD Ameritrade is programmatic. 
• 31% of digital spend from Fidelity Investments placed is programmatic.

For more updates like this, stay tuned. Subscribe to our blog for more updates on coronavirus and its mark on the economy. 

According to MediaRadar data, there were 22.7k new digital advertisers in the B2B space between January 2019 and June 2021, with more than half currently active.

Marketers aren’t only investing in digital ad placements. They are using their budget to work with influencers. 

Here, we dive into the overall status of B2B digital marketing, plus what’s taking shape with B2B influencers.

B2B advertising spending is above 2019 levels

B2B companies are back at it. 

Overall B2B ad spend is up 16% year-over-year. And even when we look at 2019, we see improvements. 

In July 2021, we found that brands spent 10% more on advertising than they did during the month of July 2019. This includes both print and digital media.

Unsurprisingly, digital ad spending is a driving force in the return of B2B buying. Total B2B ad spend in 2021 (January – July) is $2.4bn, of which $1.28bn is digital. 

In 2021 (January – July), B2B digital advertising is up 73% over 2020 and 118% over 2019. July 2021 marked the highest month of digital advertising spend in B2B media, where 56% of spend was dedicated to digital ad space.

While brands are investing specifically in digital ads across podcasting, native, OTT, programmatic and more, they are also investing in partnerships with influencers, a strategy typically employed by B2C brands.

B2B brands experiment with new influencer strategies

As brands shifted to digital advertising, they also began to try out influencer marketing. 

In the B2C world, influencer marketing has been around for a while. Brands pay influencers or celebrities to do a sponsorship post or participate in an entertaining campaign. 

In the B2B landscape, executives typically become social media influencers by curating thought leadership content. In this way, they develop trust with their potential customers and become a perceived authority in their industry. 

While Twitter and LinkedIn tend to be the most popular social channels for B2B influencers, B2B brands have been breaking into TikTok and seeing success. 

Using TikTok, brands are trying new ways to take advantage of influencers in micro-communities. For example, Adobe will feature artists who use the software, turning their creative work into a TikTok tutorial. 

“There’s an old rule of thumb that consumer brands lead with entertainment, while B2B brands lead with education,” explained Lauren Silverman, group strategy director at Doremus, Omnicom’s B2B marketing agency, to AdAge. “Usually, educating consumers can be a higher barrier to get them interested, but B2B brands are finding ways to make that education entertaining.”

B2B buyers spend nearly 27% of their time researching products independently online, compared to the 17% of their time meeting with suppliers. Because of this, it’s critical to have helpful and educational content about a product—but it’s even more effective for that information to be interesting. 

Influencer marketing simply feels more human and engaging. 

Digital ads and influencer marketing have distinct differences. Ads have consistent messaging, while the influencer’s voice will play a part in the creative. Programmatic placements are placed within milliseconds, but becoming a trustworthy influencer can take years. Shifting an ad campaign from print to digital might feel somewhat natural, while identifying up and coming influencers will take more research and creativity.

Because of their differences, the two go hand in hand for building a brand and converting more accounts. As digital advertising and influencer marketing grow in the B2B space, we hope to identify brands and leaders who pull together their cross-channel strategies well and highlight them here.

For more updates like this, stay tuned. Subscribe to our blog for more news.