Companies spent $1.1 billion on locally targeted social...
Companies spent $1.1 billion on locally targeted social media ads in 2012, BIA/Kelsey said. The advisory firm expects that market to grow to $3.6 billion by 2017. That projected growth is part of a broader forecast for social media ad…
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revenue, which BIA/Kelsey said will increase from $4.7 billion in 2012 to $11 billion by 2017. “Social networks are evolving their ad products and features to improve performance,” said Jed Williams, director of consulting and a senior analyst with BIA/Kelsey. New ad formats, such as Twitter’s promoted tweets and Facebook’s sponsored stories, will require marketers to think about display advertising in new ways, BIA/Kelsey said.