As the landscape of digital advertising continues to evolve, LinkedIn and Meta remain the top players in the business-to-business (B2B) social ad market. In 2024, social ad spending will make up nearly half of all B2B digital advertising, accounting for a projected 46.3%. LinkedIn and Meta are forecast to bring in substantial revenues, with LinkedIn expected to earn $4.21 billion and Meta (including Facebook and Instagram) reaching $2.91 billion. Together, these two platforms will represent nearly 80% of the $8.50 billion B2B social ad market, which has seen a 15.2% growth from last year.
LinkedIn’s Dominance in B2B Advertising
LinkedIn continues to lead the B2B social ad space, with more than 90% of its advertisements geared towards business-to-business audiences. In 2024, the platform will capture a significant 47.2% of B2B display ad spending and 22.9% of overall B2B digital ad spending. While LinkedIn’s growth rate has slowed from the highs seen during the pandemic, it is still projected to see a year-on-year increase of 12.7% in ad revenues for 2024.
Meta’s Strong Position in the B2B Market
Meta ranks second in B2B social ad spending, with its platforms Facebook and Instagram offering advertisers the ability to target businesses and decision-makers. Although growth is expected to slow to 13.8% in 2024—down from 24.8% in 2023—Meta will still claim 15.9% of total B2B digital ad spending this year.
The Role of AI in Enhancing Ad Campaigns
Artificial intelligence (AI) is playing an increasing role in streamlining and optimising social media ad campaigns. LinkedIn’s AI-powered Accelerate tool helps advertisers design campaigns more efficiently and improve performance. Meanwhile, Meta’s AI-based Advantage+ automates and optimises campaigns, though it is not solely focused on B2B marketing. YouTube is also leveraging AI to enhance content creation, media buying, and campaign personalisation, which is contributing to the platform’s growing share of B2B ad revenues.
The Rise of YouTube in B2B Advertising
YouTube is set to experience significant growth in B2B advertising, with revenues expected to surpass $298 million in 2024. As demand for video content continues to surge, driven by the popularity of social media platforms, YouTube is benefiting from this shift. Its B2B ad revenues are forecast to increase by 12.1% year-on-year, while overall B2B video advertising will grow by 14.1% to reach $1.74 billion, accounting for 9.5% of all B2B digital ad spending.
Looking Ahead
Although year-on-year growth in B2B social ad spending is slowing, LinkedIn and Meta’s dominance in the sector remains strong. The market for B2B digital advertising continues to expand, with platforms like YouTube gaining traction as video content becomes an increasingly important medium for business communication. By 2026, social ad spending is expected to rise further, as businesses continue to adapt their marketing strategies to meet the demands of an increasingly digital and video-driven world.
Reference: https://www.emarketer.com/content/linkedin-meta-continue-dominate-b2b-social-ad-spending
