Canadian marketers are increasing the amount they spend on paid social advertising, tallying an expected total of $257 million by the end of 2013, according to a new study released by eMarketer.
Social spend is up 35% over last year, though the market research firm expects this growth to slow to about 22% in the next two years. Taking paid ads on social networks as well as those placed in social games and apps into consideration, eMarketer found social media ads now account for 10% of all dollars Canadian marketers spend on digital media.
The study also showed that Canadian advertisers spent an estimated $15.11 to reach each of Canada’s social media users, up 29.3% over 2012. In Canada, more than half (51.2%) of all consumers who use the internet log into a social network site each month, creating an audience of 17.7 million across all social media.
The social media market in Canada, however, may be reaching its saturation point and showed just 4.6% growth in 2013, down from recent years. In the study, eMarketer noted most Canadians interested in social networking are already active.
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Originally appeared at Marketingmag.ca