by Laurie Sullivan
Despite Facebook’s woes surrounding Cambridge Analytica and fake accounts intended to influence U.S. political elections, the number of marketers spending more than half of their budget on social campaigns rose 200% in the past year.
In fact, 88% of marketers invest in Facebook today, down slightly from the reported 93% last year. Despite a tough year, the platform remains on top, with 66% of advertisers planning to spend more on the platform, according to findings published by Hanapin Marketing on Thursday. The survey ran from April 2 through May 4, 2018.
The findings indicate that 57% of marketers say their approach to Facebook advertising will not change. The rise of video also continues to push more money toward platforms such as Instagram, YouTube, and LinkedIn.
It turns out that the majority of the marketers participating in the survey focus on search in one way or another, according to Hanapin. Some of the job titles for survey participants listed include search marketers, analysts PPC specialists and marketing analysts, marketing directors, senior managers search marketing and more.
About 87% of advertisers participating in the study said they spend on social advertising, and 49% said they will spend more this year compared with last. In fact during the next 12 months, 60% of advertisers will spend more budget in social platforms.
About 430 marketers participated in the survey, 43% were from brands and 57% from agencies. Most are based in the U.S., but some are from UK and Canada also participated.
When asked how marketers will change their budgets in the coming year, 66% said they will increase the amount spent on Facebook, while 38% said they will increase the amount spent on YouTube, 28% on Instagram, and 24% on LinkedIn. The highest decrease at 8% goes to Twitter, followed by 8% on Facebook and 6% on Instagram.
The social platforms get the most attention from agencies, meaning that reps will pitch specific platforms to brands. About 50% will focus on Facebook, 47% on YouTube, 43% on LinkedIn, and 40% on Instagram.