BIA/Kelsey recently conducted an analysis of local social media marketing and found revenue generated by the campaigns to reach more than $2 billion by 2015. Localized social campaigns earned $400 million last year and BIA/Kelsey pegs growth at 33.3 percent annually between 2010 and 2015.
While display advertising is still the primary recipient of social ad spending – Twitter’s Promoted Tweets and Facebook ads, for example – spending on social media marketing campaigns is growing consistently.
According to BIA/Kelsey, a majority of businesses using social marketing have yet to adopt local marketing, but this will change as social platforms develop new geosocial tools.
“To date, local targeting has not been widely adopted by SMBs or national brands,” Jed Williams, analyst and program director of BIA/Kelsey’s social local media practice, said in a release.
“We expect social local ad spend to steadily increase through 2015, especially as smaller businesses learn how to leverage targeting features to optimize results.”
The only thing growing faster than social spending, it seems, is the size of social networks. Brafton reported earlier this year that Facebook surpassed the 800-million user mark and Twitter now has more than 100 million active accounts. The latest entry into the market, Google+, was most recently reported to have more than 40 million users and that figure will likely grow steadily moving forward.