Brands are shifting their advertising spend away from Facebook and toward Instagram, according to the latest data from Marin Software.
Companies are now spending 21% of their paid social advertising budget on Instagram promotions, compared to the 27% that is being spent on Facebook. Further, 61% of businesses expect their Instagram budget to increase during 2019.
One-third of these brands anticipate that the extra funding will be taken directly out of their Facebook funds.
Running promotions on Amazon is also seeing an uptick, with more than half of the companies polled seeing serious growth potential there.
SVP of Marketing at Marin Software Wes MacLaggan said to Business of Apps: “This year’s report shows a shift in advertising spend as marketers explore alternative channels and emerging ad formats.
“The digital advertising landscape continues to evolve, with advertisers struggling to close the skills gap as publishers innovate.
“At Marin, we’re seeing a greater emphasis on video and new ad formats like Responsive Search Ads and Shoppable Images to gain mindshare and drive growth. The eCommerce landscape is a hotbed of innovation, presenting retail brands with many opportunities and some challenges to navigate.”
32% of respondents told Marin Software that they thought video was the most effective form of advertising, while 26% believe it is Instagram Stories.
At the start of 2019, Facebook announced plans to integrate Instagram with Messenger and WhatsApp to create a single conjoined messaging network.
Read more here.