Facebook Set to Become Second Largest Media Investment by WPP
In a recent CNBC interview Martin Sorrell, the media giant and founder of WPP, the worlds largest advertising group hinted that Facebook is set to become 2nd only to Google in it’s total media investment – or the total spend of clients advertising dollars across all platforms.
This report comes just weeks after Proctor & Gamble announced that they were cutting $140 million from their digital advertising budget to which many speculate is a prelude to an increase in their social media advertising budget.
None the less, the worlds largest brands are seeing significant results from their Facebook (and Instagram) campaigns that are more measurable directly to sales dollars than they have been able to achieve before. Media Buying agencies and the industry as a whole will continue to follow suit and I believe will create a massive trickle down.
The result of this will be new advertising money in the Facebook advertising space. This will drive the cost to advertise up. So, the moral of the story is, it’s important to get in now while you have time to find strategies that work for less significant of a cost than it will be a year or 6 months from now to do so.
Garland here! Most have come to know me as Gar but in honor of my namesake, my grandfather I have grown to appreciate the unique name I have. Speaking of weird names, it’s actually how my wife Tasia and I met…something like “Hey nice to meet you. I know what it’s like to have a weird name too!” We’ve been together ever since and happily married for 2 years. We have 2 dalmatians Rio and Sochi and love spending time with our family here in Grand Rapids where we both grew up. We spend many weekends on Lake St. Clair where Tasia’s family currently resides. I love all things sports and am especially passionate about golf and the Michigan State Spartans!