Social Media Advertising - Greece

In Greece, ad spending in the Social Media Advertising market market is projected to reach US$356.00m in 2024.
This ad spending is expected to exhibit an annual growth rate (CAGR 2024-2030) of 8.31%, which will result in a projected market volume of US$574.80m by 2030.
In a global context, the majority of ad spending will be generated China, with a forecast of US$84.65bn in 2024.
Within the Social Media Advertising market market in Greece, it is anticipated that 71% of total ad spending will be generated through mobile by 2030.
Furthermore, the number of users in the Social Media Advertising market market in Greece is expected to amount to 9.0m users by 2030.
In Greece, businesses are increasingly leveraging social media advertising to enhance brand visibility and engage younger consumers amid a digital transformation.

Definition:
Social Media Advertising is a form of online digital marketing in which paid banner and video ad campaigns are run on social media platforms to reach the target audiences. Marketers can promote brands, products, and services and increase purchase intention.

Additional information:
Social Media Advertising comprises advertising spending, users, average revenue per user, and key players. The market only displays B2B spending. Figures are based on advertising spending and exclude agency commissions, rebates, production costs, and taxes. Key players in Social Media Advertising include Facebook, Instagram, Twitter, TikTok, LinkedIn, Weibo, Naver, and Kakao. For more information on the data displayed, use the info button right next to the boxes.

All ad spending generated by social networks
Sponsored posts

Ads within online games playable on social networks
Revenue generated from membership subscriptions or premium fees

The Social Media Advertising market in Greece has witnessed significant growth in recent years, driven by changing customer preferences and the increasing importance of digital marketing.

Customer preferences: Customers in Greece are increasingly turning to social media platforms for information, entertainment, and social interaction. The widespread use of smartphones and the availability of affordable internet packages have contributed to the growing popularity of social media. As a result, businesses are recognizing the potential of social media advertising to reach their target audience effectively.

Trends in the market: One of the key trends in the Social Media Advertising market in Greece is the shift towards video content. Videos have become a preferred format for consuming information and entertainment on social media platforms. Advertisers are leveraging this trend by creating engaging and visually appealing video advertisements to capture the attention of the audience. Additionally, influencer marketing has gained traction in Greece, with businesses collaborating with popular social media personalities to promote their products or services. This strategy allows brands to tap into the influencer's loyal following and build credibility with their target audience.

Local special circumstances: Greece has a unique cultural and historical background that influences consumer behavior and preferences. The Greek population values personal relationships and word-of-mouth recommendations. As a result, social media advertising that incorporates personal testimonials or recommendations from trusted sources can be particularly effective in this market. Additionally, Greek consumers appreciate authenticity and transparency in advertising. Advertisements that reflect the local culture and values are more likely to resonate with the audience.

Underlying macroeconomic factors: The economic stability and growth in Greece have also contributed to the development of the Social Media Advertising market. As the country recovers from the financial crisis, businesses are investing more in marketing and advertising to capitalize on the improving economic conditions. Furthermore, the tourism industry plays a significant role in the Greek economy. Social media advertising allows businesses in the tourism sector to reach a global audience and promote Greece as a desirable travel destination. In conclusion, the Social Media Advertising market in Greece is experiencing growth due to changing customer preferences, including the increased use of social media platforms and the popularity of video content. Local special circumstances, such as the value placed on personal relationships and authenticity, also shape the market. The underlying macroeconomic factors, including the economic recovery and the importance of the tourism industry, further contribute to the development of the market.

Data coverage:

Data encompasses enterprises (B2B). Figures are based on social media advertising spending and exclude agency commissions, rebates, production costs, and taxes. The market covers social media advertising generated by social networks or business networks such as Facebook, Tiktok, Instragram, Pinterest, and LinkedIn.

Modeling approach:

A combined top-down and bottom-up approach determines the market size. Starting with the top-down approach, we calculate global social media advertising by aggregating revenues from key players (Meta Platforms (Facebook and Instagram), ByteDance (Tiktok and Douyin), Twitter, Snapchat, and Microsoft (LinkedIn)). Followed by the bottom-up approach, we justify global, country, and region results using web traffic and the number of app downloads. Lastly, we distribute the results to each country individually with relevant indicators such as GDP, internet users, social media users, and digital consumer spending by country.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market. For instance, the S-curve function is well suited to forecast digital products due to the non-linear growth of technology adoption, whereas exponential trend smoothing (ETS) is more suited for projecting steady growth in traditional advertising markets.

Additional notes:

Data is modeled using current exchange rates. The impacts of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice per year in case market dynamics change.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Social media is no longer just for connecting with friends; now brands meet customers, and trends are born in these platforms. As social media advertising spending is projected to continue to grow during the second half of the decade, buying behavior is consistently impacted by likes, comments, and shares. Social influence has led marketing strategies to align with platforms that promote video content. In 2024, TikTok and social media ranked among the top three leading consumer trends according to marketers surveyed around the globe, making such channels unavoidable for most advertising strategies. The social media advertising market is not limited to one region; countries across all continents are investing in social media advertising, with the United States and China recording the highest expenditures worldwide.