According to new research from Kenshoo, increased emphasis on mobile and product-focused ads drove spending growth in both social (40%) and paid search (10%) year-over-year (YoY). And Social, Mobile ad spending increased 51% YoY, accounting for 79% of total spend in the quarter.
Year Over Year results show Product Ad spending growth of 63%, accounting for 26% of e-commerce spending; in Paid Search, Mobile Ad spending increased 45% accounting for 41% of total spending; Product Ad spending increased 33%, accounting for 32% of e-commerce spending.
Other Year over Year key findings include:
Chris Costello, senior director of marketing research for Kenshoo, adds that “… more and more consumers are clicking on mobile ads, product ads and mobile product ads… encouraging more ad inventory from publishers… more investment from marketers…”
Costello continues, saying “… these ads have become the lynchpins of digital advertising… as advertisers have seen success and engagement with these devices and formats, they increased investments… sustaining double-digit growth for the whole of social and paid search…”
Beyond mobile and product ads, advertisers continued to invest in video ads in social, comprising nearly 30% of total social spending. In paid search, the transition to Expanded Text Ads accounted for 70% of clicks on keyword search ads and 75% of spending in the category.
Visit Kenshoo.com/Digital-Marketing-Snapshot to download the new infographic, Kenshoo Digital Marketing Snapshot: Q2 2017.