And it is only growing. The competition to gain eyeballs, clicks, and shares is becoming more intense. The bar for quality content is higher. Paid social is becoming a necessity — even if brands want their posts to be shown to their fans and followers.
CMO Council's annual State of Marketing study found that 71% of marketers plan to grow their media budgets in two areas: social advertising and online video. Of the 525 senior marketers surveyed, 39% stated that they would increase their social media engagement campaigns by 5%, and 30% said they would increase budgets for social advertising by 5% or more.
And Socintel360 predicts that social advertising will account for 23.9% of online advertising spend by 2018. In 2013, it was 13.9% of online advertising spend.
It's a fast growing industry that is less than 10 years old.
Check out the below infographic on the history of social advertising and consider: What opportunities and challenges will brands face in the next 10 years?