Strata has a new report out finding that, unsurprisingly, Facebook leads social media in advertising by agencies, with 86% saying they will likely use the platform in client campaigns. YouTube is in second place with 62% followed by Twitter at 57% and LinkedIn at 38%.
The survey of agencies found that confidence in the ad economy is the highest it has been in the past five years. 62% of these agencies said they see business increasing this quarter compared to the same period last year, which is the highest that number has been as long as Strata has been conducting the survey.
53% of them projected future growth to be better in the first half of this year than the last half of last year.29% are increasing their ad budgets from last year, which is the most Strata has found since 2008. 32% plan on hiring staff this year, and only 3% plan on reducing staff.
“Ad agencies revealed an interesting dichotomy within the advertising industry; agencies are displaying high levels of confidence and are increasing their ad spend while they question the accuracy of reported Web traffic numbers and the inflated CPMs they may command,” said Strata president Joy Baer. Another interesting parallel was the optimism many agencies felt while they looked cautiously at rising ad costs as a major concern. The strength that our clients are reporting bodes well for the rest of the year.”
As far as agencies' plans for social media go, 49% of advertisers said they're most likely to use Promoted Posts for their Facebook ad purchase, followed by Page Post ads (27%). YouTube is obviously the top online video site at 76%, followed by Hulu at 34%. 51%, the survey found, are more interested in streaming/online radio.
BIA/Kelsey recently projected social ad revenues to hit $15 billion in 2018.
Image via PR Newswire