TikTok may be talking a good game for advertisers but it still has a long way to go to get even close to Facebook’s dominance, with three times as many marketers choosing the Meta platform over its Chinese rival for social media ads in 2023.
Facebook, which has an active user base of close to 2.9 billion, virtually invented social media, and remains the number one choice for most marketers.
According to a Social Media Examiner survey, Facebook was the most commonly used social media platform among marketers worldwide in 2023, with 89% of them using the network to promote their business.
Instagram was the second most used platform for social media advertising, with an 80% share; 65% of marketers have chosen to advertise on LinkedIn, while YouTube and Twitter follow with 54% and 44% shares, respectively.
Statistics show that only 26% of respondents named TikTok as their top platform for social media ads.
The survey also reveals that just over half (53%) of marketers plan to increase their use of Facebook in the near future, while only 5% planned to cut their budgets for Facebook ads.
Two-thirds (66%) will increase their spend on Instagram and YouTube, compared to 43% of those who plan to boost TikTok advertising. Nearly half (45%), however, are not planning to use the video-sharing app for ads at all.
According to separate research from Statista, brands spent a $189.5bn (£149bn) on social media ads last year; a figure which is forecast to rise to $207bn (£162bn) in 2023 and $247bn (£194bn) by 2027.
Bellwether reaction: Is sales promotion killing brands?
Adland hit by surge in direct and promotional marketing
Marketers hunt specialists to join the TikTok revolution
WARC/AA report reaction: Time to tackle the big issues
Adspend hits £34.8bn despite tarnished golden quarter
FCA plots new rules to batter rogue social media ads