Cost-per-click in the US rose by 19.5%.
This article cites a trends report by Socialbakers which revealed an increase in global social media ad spend in Q3 2020. Global social media ad spend in Q3 2020 went up 56.4%. Where US saw spending go up 61.7%, it was 43% for UK.
The report found average industry ad spend improve by 38.9% in Q3. FMCG spending jumped 61.3%, auto by 59.4%, finance by 35.3% and ecommerce by 27.5%. Cost-per-click was observed reaching $0.168 in Q3 2020, a 42.4% jump in the quarter.
The study found Instagram to be generating 22 times more interactions as compared to Facebook. Facebook, however, saw its ad reach increase on average by 12.3%. The audience reach of Instagram’s 50 largest brand profiles was 34.7% higher than those on Facebook.
[3 minute read]