As social media's presence in our lives continues to grow and expand, we are seeing the industry around it adapt as well. The general acknowledgment that an online social media ad has replaced the common advertisements in newspapers and on billboards is beyond the current transformation we are witnessing over the next ten years. The new age is here, and we are seeing the relevancy of social media in the average consumer's life reflected in the financial projections for the social media marketing industry.
The article listed breaks down the growth of social media advertising globally over the next 6 years, showing staggering increases in a growing and expanding market. More and more brands are beginning to understand the success that social media marketing has set in place for the future of their brand. With big data increasing our AI intelligence to tailor ads to the specific consumer, it is becoming a more effective and efficient system to outreach to the consumer base they hope to reach.
Not only is the industry-transforming, but the changes we are seeing to the marketing for all brands are creating more efficient systems to reach their desired audience. Before the technological era we live in today we were seeing an inefficient system. Overreaching for an audience, or not being able to place your advertisements in a place where they would be effective. In today's age the market research required to find your tailored audience is entirely done with analytics through click-throughs, screen time with demographics, and other effective activity statistics. Additionally, the modern age's technology base is cheaper than past marketing approaches, providing smaller firms that require lower marketing costs a chance to grow in similar methods.
The adaptation to social media marketing can also be reflected amongst its consumers, as we are seeing the younger generations appealing to niche and smaller name brands. The trends of consumers in this regard are accelerating the need and innovation of social media marketing, as these firms tend to operate on a much smaller basis than your Nike or Adidas of the world.
Social media marketing is the marketing of today, and its success has been imminent in our world so far. The inefficiencies of the marketing field have been revealed through success with new strategies, and we will continue to see this world go in the direction of social media as it continues to absorb more time from daily life.