* This article is a paid service of Digiday[Japanese version]a media for next-generation leaders responsible for branding.DIGIDAY+This is a reprint from.
Agencies and brands alike continue to spend their marketing dollars on Facebook. On the flip side, according to a survey of 138 agency and brand marketers conducted by Digiday Research, buyers’ trust in Facebook as a marketing channel is declining. And this trend is more evident in brands than in agencies.
Facebook appears to be the top marketing channel for agencies, according to Digiday. Among agency respondents, 93% said they would spend “at least a little” of their clients’ marketing budgets on Facebook (as did Instagram, which is also owned by Meta). Not so much when it comes to big investments, however, with 47% of respondents saying they spend “a lot” or “a lot” on Facebook.
The view from the brand side is slightly different. 85% of brand marketers said they would spend “at least a little” of their marketing budget on Facebook (as did Instagram), third only to Google and display advertising.
Meanwhile, just over a quarter (27%) of brands say they spend a “large” or “very large” portion of their marketing budget on Facebook, also on Google and Instagram. was third after
When it comes to agency clients, Digiday surveyed said Facebook was the most likely to spend a “moderate” marketing budget. In fact, when asked about their spending in Q1 2023, nearly a third (31%) of agency respondents said their clients spent “moderately” on Facebook. And this number hasn’t changed at all in the past year.
The percentage of agency marketers who say their clients spend “a lot” of their marketing budget on Facebook is also about the same as last year. This group was the second largest in the survey, accounting for 29% of agency responses.
Interestingly, the percentage of agency marketers who say their clients spend a “significant” amount of their marketing budget on Facebook has continued to decline over the past year. In Q1 2022, 18% of respondents said they spent a “very large” budget on Facebook, down from 15% in Q3 2022 and 11% in Q1 2023.
Meanwhile, 11% of agency marketers say their clients spend a “low” percentage of their marketing budgets on Facebook in the first quarter of last year, up slightly in the first quarter of this year. 16%.
Brands, meanwhile, were most likely to spend a “moderate” marketing budget on Facebook. However, the concrete aspects are different from the agency side.
In the first quarter of this year, brands were by far the most likely to spend a “moderate” budget on Facebook, with nearly half (42%) of respondents. In fact, the second most common response rates Facebook as a “high” percentage of their marketing budget, but it only accounts for 18% of the total. And the percentage of people who say they spend “moderately” on Facebook in their budget has risen from 30% to 42% in the past year.
It’s also worth noting that more and more respondents say they don’t spend their marketing budget on Facebook at all. Looking at the first quarter of 2023, 15% of respondents said “no spending” on Facebook. This number is also low enough, but slightly better than 7% six months ago.
On the brand side, responses that rated the percentage of their marketing budgets spent on Facebook as “low” also fluctuated significantly over the past six months. In the third quarter of 2022, 21% of respondents answered “less”, but in the first quarter of this year, it dropped significantly to 6%.
There is also a slight variation in respondents rating the percentage of their marketing budget that they spend on Facebook as “extremely high.” It rose from 4% in Q3 2022 to 9% in Q1 2023.
The survey suggests that buyers continue to invest in Facebook marketing, and to what extent. The big question that remains is whether the investment is paying off. And the answer seems to be “somewhat”.
As far as the survey goes, agencies are declining in their trust in Facebook when it comes to return on investment. Most agencies (96%) have some trust in Facebook, but that level appears to be declining somewhat.
For example, the number of agency respondents who say they “trust” or “extremely trust” Facebook’s ability to deliver successful client marketing efforts has been declining since the same period last year. . In the first quarter of 2022, 19% of respondents said they had “extreme confidence” in Facebook’s capabilities. However, in the first quarter of 2023, this percentage has fallen to 13%. The percentage of people who said they “trust” Facebook’s capabilities also dropped from 40% to 31% over the past year.
Meanwhile, the number of people who say they have “a little bit of trust” in Facebook’s ability to make their clients’ marketing efforts successful has grown significantly over the past six months. In the third quarter of last year, 13% of people said they had “a little bit of trust” on the agency side, but in the first quarter of this year, nearly a quarter (23%) said they were.
Brands’ trust in Facebook’s marketing capabilities shows a greater variability than agencies.
For example, in the first quarter of this year, brands were most likely to say they “have a little bit of faith” in Facebook’s capabilities. But since the third quarter of 2021, when Digiday’s survey began asking trust questions, “trust” has been the number one answer. Specifically, in the first quarter of 2023, 27% of respondents said they had “a little trust”, up from 17% half a year ago.
On the other hand, less than a quarter of respondents (24%) said they “trust” Facebook’s capabilities on the brand side. This is a significant drop from half a year ago, when nearly half (48%) of respondents said they “trusted”. The figures for the year from the 3rd quarter of 2021 to the 3rd quarter of 2022 are almost the same.
Conversely, 12% of respondents said they “completely distrust” Facebook’s capabilities, up from 4% six months ago.
Meanwhile, the percentage of people who say they have “high confidence” in Facebook’s marketing capabilities on the brand side has rebounded significantly. While this response remains a minority (12%) of the total, it reached 14% in Q3 2021 and has continued to decline throughout 2022, hovering at 3% or 4%. rice field.
[original text]
(Text: Julia Tabisz, Translation: Junko English, Editing: Shohei Wakeshima)
Source: BusinessInsider
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