Socialbakers evaluated the growth of global social media ad spend and reach in 2020, amid the pandemic.
Social media ad spend worldwide continued to grow in 2020, despite COVID-19, as per the report. With a steady surge from March 2020, social media ad spend returned to 2019 levels by November 2020, while an initial decline was observed at the onset of Spring.
Further, during the peak holiday season, YoY spends for peak spending doubled, this trend held till early 2021. Global average of Facebook ads’ reach increased by 30% in 2020, while regional improvements in one place were as high as 96%.
Improved business spends and with consumers more likely engaging with ads could have driven advertisements on Facebook. Click-through-rates (CTRs) in April 2020 experienced a drop but stayed above 0.8%. However, the average CTR in the past 16 months was 1.01%.
[2 minute read]