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For 52% of marketers, economic uncertainty is key driver for increase in social media app ad budgets

Over the last few weeks, we’ve seen social media emerge as one of the hottest media targets for app and mobile advertisers in 2023. More than half of marketers are looking to boost their ad spending on social channels and 49% are excited about the possibilities of social video in 2023. Now a new report from SaaS tracking and analysis firm Meltwater finds that more organisations are embracing social media in 2023 due to global economic uncertainty.

The importance of a social media strategy in 2023

Over half (52%) of organisations said that economic uncertainty led them to consider social media as an important channel for their company. As consumers are feeling the squeeze, it appears that brands are looking for ways to keep them more engaged.

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