In 2023, most of the world is now connected seamlessly through social media. Combined with the power of modern search engines, this represents an incredible pool of potential customers that businesses around the world are becoming experts at tapping into.

Digital advertising provides precise targeting and metrics that are easy to track and facilitates the flexibility needed to iterate and optimize ad campaigns on the fly. Here are the facts you need to know about the state of digital advertising this year.

Illustration of a group of people working in Digital Advertising

We’re Nearing 5 billion Social Media Users

Your kid has a Facebook, your grandma has a TikTok, and you’re active on LinkedIn, trying to grow your business. In 2023, the world is more connected to social media than ever before. Over 60% of the world is using social media in some form, and by 2027, it’s expected that almost 5.8 billion people will be reachable by social media ads.

Most of the world is on social media, and the vast majority of consumers don’t just passively maintain profiles. They regularly engage with platforms. 94% of consumers engage with their platform of choice at least once per month.

All of this means that social media advertising is a treasure trove of potential customers from every walk of life. No matter the business you run, the demographic you’re targeting, or the location you’re doing business in, social media has quickly become one of the most powerful advertising tools we’ve ever seen.

LinkedIn is Rising

PPC, or pay-per-click, advertising, means paying only for those customers who click through your paid media and engage with your website. While LinkedIn is currently the 6th most popular PPC ad platform, it’s the 4th most popular social media, ahead of both X and TikTok. Advertisers know the value of LinkedIn and are taking advantage of it.

This is because nearly half (45%) of marketers say they’ve gained customers through LinkedIn, a trend that’s likely to rise in the coming year as more advertisers adjust to this impressive fact.

What Makes LinkedIn So Great for Advertisers?

First, it’s a highly popular platform with more than 950 million active users. This potential reach makes it valuable all on its own, but what really makes LinkedIn special is who those users are and how accessible they are to advertisers who want to target them.

LinkedIn benefits from its image as a business-first networking platform. Thanks to its professional reputation, users of LinkedIn are already in a business mindset when they pull up the website. They’re looking to grow their brands, make connections, and find value they can act on. This makes them perfect recipients for well-placed ads, which LinkedIn enables with its strong advertising tools that allow companies to target specific job titles, companies, and groups.

Businesses Are Relying on Digital Advertising More than Ever Before

Digital marketing brings a slew of important advantages when it comes to advertising products and services. The range of potential customers, the ease with which they can be accessed, and the measurability of paid media all make online advertising a strong choice for companies looking to close the year out strong.

Businesses from every industry are catching on: this year, 63% of businesses increased their digital marketing budgets.

Marketers know how useful it can be as well, which is why 86% of marketers use two or more digital marketing channels.

The benefits seem undeniable, but do businesses that use digital marketing really see results? That all comes down to how consumers feel about ads in their social media and search engine feeds. Well, the data is in: 80% of consumers have purchased a product directly from an online ad, including 49% of the 18-29 demographic.

Digital advertising is here to stay, and savvy business owners and marketers are learning the best ways to use paid media to achieve and surpass their revenue goals.

Search Engines Still Dominate Digital Ad Revenue

Social media is the fastest-growing digital advertising channel, and for good reason. Marketing on social media can help curate brand images, connect with customers personally, and provide a steady stream of viewership and engagement on critical ad campaigns.

However, despite social media’s rapid growth, search engines (Google) still reign supreme on the paid media front. When it comes to all internet ad revenues, search engines make up 40.2%. Paid results for a strong keyword guarantee viewership and a chance at conversions.

Businesses that combine paid search engine results with a well-curated customer journey and lead nurturing make an average of $2 in revenue for every $1 they spend on Google ads.

If you’re looking to start your own digital advertising campaign, don’t neglect social media, but keep a tight focus on paid SERP placements to get the most out of your ad budget.

Optimize Your Digital Advertising with 120/80

Whether you’re tapping into the rising star that is LinkedIn or harnessing the proven power of search engines, one thing is clear: digital advertising is becoming an unstoppable force in shaping consumer behaviors and business success.

Now is the best time to work with an expert in the field of digital advertising, like the seasoned marketers at 120/80. We’re a data-driven PPC management agency that knows how to turn those numbers on the page into a detailed story that drives conversions.

Take the next step towards a thriving online presence – contact us today, and let’s craft a digital paid media advertising strategy tailored to your success.