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The rise in online ad spending could potentially impact small businesses in several ways. Firstly, it could increase the cost of advertising for these businesses, as the demand for online ad space increases. This could make it more difficult for small businesses to compete with larger companies who have bigger advertising budgets. Secondly, it could also lead to more competition in the online space, as more businesses move their advertising efforts online. This could make it harder for small businesses to stand out and get noticed by consumers. Lastly, the rise in online ad spending could also lead to more opportunities for small businesses. With more consumers spending time online, businesses that are able to effectively leverage online advertising could potentially reach a larger audience and increase their sales.
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Since the pandemic accelerated online spending to $26.7 trillion in 2020, the average starting cost of 1000 impressions for a Facebook ad went up with it. For example, the average starting CPM in 2019 was around $5.12, but by May 2020, it had risen to $7.19. In October of 2021, Facebook's average CPM is $11. Now compare that to TikTok, which brings in $1.3 billion in annual ad sales. In 2020, Facebook generated around $84 billion. In fact, for every one dollar per user TikTok makes, Twitter makes five, YouTube makes seven, and Facebook and Instagram make nine.
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Does your team need better ways to close leads? Don’t miss your sales targets due to misqualified leads or poor sales controls. Extract from our compi...
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