According to a new infographic report: Kenshoo Digital Marketing Snapshot; Q1 2017, highlighting the impact that mobile, product-focused and video ad types deliver for social and search advertisers, social ad spending increased 41% year-over-year supported by substantial (153%) growth in video ads, and Dynamic Product Ad (202%) spending. Increased spending on mobile ads (45%) resulted in a 10% rise in total search spend YoY.
Chris Costello, senior director of marketing research for Kenshoo, says “… the first quarter usually shows a return to normalcy following the heavily retail-focused holiday season… more so this year considering the impact of political ad spending on paid social ads… both paid search and the maturing paid social platforms sustained double-digit growth year-over-year… showing the value… rewarded with sustained growth in clicks and in click-through rates…”
According to the report, additional key findings include:
The report says that advertisers have started shifting away from the generic page post link ads in social media to capitalize on new ad types offering dedicated functionality to better engage target audiences. As the video-intensive election season concluded, video ads on social maintained a nearly 30% share of social ad spending. And, says the report, in paid search Expanded Text Ads now make up a majority of search clicks.
Search and social results are based on five quarters of performance data from the Kenshoo platform from over 3,000 advertiser and agency accounts across 20 vertical industries and over 60 countries, resulting in more than 600 billion impressions, 13 billion clicks and $6 billion (USD) in advertiser spend.
For additional information, please visit here to download the new infographic, Kenshoo Digital Marketing Snapshot: Q1 2017.