Twitter Facebook LinkedIn Flipboard 0 Social media advertising provides a slew of benefits for brands looking to reach a qualified audience. But when it comes to social media advertising spending, geotargeted ads take the cake. In fact, according to a new BIA/Kelsey forecast, total geotargeted social media spending will jump from $400 million in 2010 to $2.3 billion in 2015! So what are geotargeted ads? Using location information provided by consumers through social media platforms, advertisers can reach a targeted audience in contextually appropriate ways. And this form of advertising is actually growing even faster than social media advertising spending overall, with a cumulative annual growth rate (CAGR) of 33.3% compared to 25.7% for overall social spending. In 2015, geotargeted social media is expected to make up 27.7% of total social media spending, up from 19% in 2010. Currently, the most popular social media advertising format, geotargeted or not, is display. This isn’t expected to change over the next few years. In fact, it’s forecasted to increase to $7.7 billion in 2015, up from slightly less than $2.1 billion in 2010. Although the CAGR totals 24.2%, display’s total share of social media advertising spending will decrease to 92.8% from 97.6%. Non-display ads are expected to increase to $610 million in 2015, for a CAGR of 51.6%. Some of the social media sites with geotargeting capabilities include Foursquare, Gowalla and Facebook. According to Pew, 58% of smartphone owners use a geosocial or location-based information service. This number is likely to grow, providing a huge opportunity for advertisers looking to reach local consumers or targeting specific geographical locations. As this channel continues to grow, it’s crucial to have a comprehensive social strategy in place, better positioning your brand to compete in a challenging digital marketplace. Twitter Tweet Facebook Share Email This article originally appeared on Asking Smarter Questions and has been republished with permission.Find out how to syndicate your content with B2C Join our Telegram channel to stay up to date on breaking news coverage Author: Connor Brooke Connor is a Scottish financial expert, specialising in wealth management and equity investing. Based in Glasgow, Connor writes full-time for a wide selection of financial websites, whilst also providing startup consulting to small businesses. Holding a Bachelor’s degree in Finance, and a Master’s degree in Investment Fund Management, Connor has … View full profile ›More by this author:ACH Crypto Price Prediction 2022 – Is it a Buy?Lucky Block Partners with Dillian Whyte ahead of Heavyweight Showdown with Tyson FuryNFT Pixel Art – The Best NFT Collections for 2022