Surprise, surprise: they’re targeting millennials
Newer social ad venues are intriguing marketers. Many senior ad buyers plan to point their advertising dollars to new social media venues in 2016. According to recent research, more US senior ad buyers are planning to begin advertising on Snapchat than other social media sites. Snapchat is an effective way for marketers to reach consumers. Particularly, the social media platform is a great way to reach the United States’ millennial audience.
Social media newcomers
The findings come via a recent poll by Cowen and Company. The poll of US senior ad buyers asked them what social media sites they did not advertise in 2015 that they plan to begin new advertising in 2016. Of the senior ad buyers, 22% said they plan to advertise on Snapchat this year for the first time. Instagram and Pinterest were the other top platforms identified, each with 12% of respondents saying they planned to begin advertising this year.
Of respondents, 10% said they plan to begin advertising on social media site Tumblr. Tinder, a social dating app, was identified by 6% of ad buyers as their new destination for advertising dollars they intended to spend in 2016. However, a staggering third of respondents said they plan to keep things the same and don’t plan to allocate any new spend to social media sites in 2016.
Solid return investment
According to marketers, paid advertising on social media has been delivering a solid return on investment. While Snapchat hasn’t traditionally rated high for social ad effectiveness at driving ROI, it is still receiving attention from marketers. In fact, newer social ad venues in general are intriguing marketers.
A September 2015 survey from RBC Capital Markets and Advertising Age found that marketers are especially interested in several fast-growing social media services, like Instagram. In their survey, almost three-quarters of respondents indicated interest in advertising on Instagram.
Pinterest was also indicated as a new ad platform by 41% of respondents. Of respondents, 36% said they were interested in allocating their ad budgets to Snapchat.
Overall, it seems that newer social media venues have the attention of marketers in 2016.