Global spend on Facebook advertising has rocketed by 114% year on year for the second quarter of this year according to new data from Kenshoo.
The growth is twice as fast as a year ago as the market continues to grow with mobile phone and tablet ad spend up by 167% year on year and now accounting for 63% of total paid Facebook budgets. The figure is up from 51% the year before.
The research also showed an increase in paid search for the quarter, up 10% year on year. In this sector on the move advertising has also driven growth with mobile ads accounting for 71% of spend and tablet ads for 4%. Desktop search spend fell by 2%.
Mobile devices are playing a bigger role in search advertising accounting for 38% of spend (up by 37% year on year) and accounting for 44% of clicks and 34% of advertiser revenue.
“Both paid search and social are showing healthy increases in spend and clicks with social obviously showing the much faster growth as it’s a far younger market,” said Rob Coyne, Kenshoo’s managing director for EMEA. “Existing social advertisers are ramping up spend and getting better results in terms of click volumes despite fewer available impressions, while new social advertisers are also entering the market. Mobile has been the key driver of growth in both search and social, with 36% of revenue from advertiser sales now coming from mobile phones, up from 16% last year,” he said.
The study also showed that marketers are driving better engagement with their Facebook advertising. Total clicks increased by 129% over the year on top of 64% few impressions. Social advertisers have also enjoyed a dramatic 535% rise in click through rates as they adjust, adapt and take advantage of changes in the structure and available inventory of paid social publishers, the report said.