In order to succeed, marketers will have to diversify their ad spend.
As per LiveIntent’s study, 85% of marketers are concerned about the increasing costs of Facebook ads. Research has found the social networking giant’s CPM rates to grow 90% year-over-year for marketers. The CPM cost spiked 11% since 2019’s first quarter, touching $7.84.
Further, 42% of marketers spent more in 2019 than 2018, owing to the rising cost of Facebook ads. 13% of marketers are “extremely concerned” about these growing costs. If this trend continues, about half of the respondents believe they could be “priced out of paid Facebook ads”.
The rising CPMs could also force marketers to migrate to other platforms. LiveIntent’s Kerel Cooper says that brands may turn to email, where they are sure of reaching a known person when they are logged-in and engaged.
[2 minute read]