FOX NEWS — Which brands and brands are performing better on social media than in-person ads?
A new study from Pew Research Center found that the three biggest players in the social media advertising market have more than doubled their social media spend over the past six months, and are growing faster than any other major brand.
The brands most impacted by this trend are brands that have been around longer than a year, such as Facebook, Instagram and Twitter.
These companies are also seeing a significant jump in their advertising spend.
As we reported in February, Facebook had increased its advertising spend by more than 2,000% in just one year, and Instagram had increased their spending by almost 30% in the same time frame.
According to Pew, the social advertising market has grown nearly 20% in 2016, but the brands most affected by this growth have been those that have seen their sales drop over the last two years.
In the study, the study team analyzed 1,000 social media ads purchased by brands, with the top brands representing more than a quarter of the overall spending in 2016.
It found that more than half of the top three brands, including Nike, Adidas and Target, have experienced their sales declines for two consecutive quarters.
Among the brands that did not experience sales declines, Nike, Under Armour and Under Armour’s flagship retailer Under Armour were the only brands to experience a positive growth in the past year.
For brands that saw sales decline, the average time it took to build a brand brand was nearly four years, which was the same as the average of four years for the next largest brands.
Only one of the three brands was a competitor of Under Armour, Nike and Adidas, and the company only experienced a positive market share increase for five of the six years.
For brands impacted by a negative market share, the most important takeaway from the study is that the most effective social media marketing can be found in those brands that are growing fastest than any competitors, and not those that are struggling to maintain a presence.
The top brands on this list include Air Force One, Amazon, CVS and Kmart, as well as the popular Netflix and Apple.
But it’s the brands not in the top 10 who are doing well.
A study by marketing agency Diverse, which polled 100 marketing professionals, found that social media engagement among consumers was the biggest factor for brands not making the top 20, with a median of 5.7% of respondents saying they had never heard of a brand they liked before.
“While brands are making strides, consumers are still being challenged to engage with brands in ways that are meaningful and meaningful to them,” said Daniel Wieder, Director of Social Media Marketing at Diverse.
“It’s critical that brands keep the conversation going by engaging their loyal audience, whether it’s by connecting with them on Facebook, by reaching out to their community through social media, or by engaging with them in more than just social media.
Social media is one of those critical platforms where brands can reach a broad audience and grow the brand.”
However, even with these trends, the top six brands were not the only ones in the best position to capitalize on this trend.
Diverse polled more than 700 marketers across six different industries, and found that, on average, the six top brands spent more than twice as much as the next-best brands.