March 2023 Social Media Ad Update: Twitter And Facebook Witness Continuous Decline As Snapchat Up 127.5%

The statistics for the March 2023 social media advertising performances for leading platforms are out. And we’ve unraveled the details for our readers below.

While some big names struck breakthrough performances, others continued to witness a decline.

Thanks to estimates from Similarweb, we’re outlining the ones that really experienced a rollercoaster performance.

Elon Musk may not be too happy with the way Twitter failed to drive huge subscription volumes this past month. But what has really opened up so many people’s eyes is the trend of YoY declines. It was off by a massive 2.6% YoY. After the end of the quarter, Twitter saw an 18% decline in ad buyer traffic. Meanwhile, Facebook experienced a similar decline comprising 4.6%.

But in terms of some serious wins, Snapchat deserves a special mention. The company witnessed a winning share against all arch-rivals. This came in the form of a 127.5% rise YoY last month and a massive 125% rise in this quarter.

Traffic monitoring for businesses and ads of leading social networks serves as indicators of how well a business is performing and that’s exactly what was done here.

The traffic directed to the Twitter platform’s ad portal went down by 18.7% but it did see an improvement of 8% from February onwards. And while tech billionaire and head of Twitter, Elon Musk did mention how keen he was to take a step back and replan Twitter’s business model far away from the likes of advertising, it’s not working out too well.

The platform’s advertising businesses are in a dire situation and Twitter Blue subscriptions rarely see too much success.

But things are not looking too great for Meta Platforms either. The firm’s business model linked to advertising across its leading Instagram and Facebook apps saw a drop in traffic comprising a 2.6% YoY decline for March. This accompanied a 1.3-point decline in traffic shares.

On the other hand, Snapchat has been seeing growth in terms of advertising purchasing traffic of nearly 127% YoY. TikTok which is the leader in terms of the popularity of apps is called out as the champion for attaining momentum in the past few years. There was a 23% YoY rise with Pinterest being up by 30.5% YoY.
The gains witnessed by Snapchat, Pinterest, and TikTok were more dramatic than the losses seen in traffic for both Twitter and Facebook. So this kind of trend is very common when you compare sites based on a quarterly basis.

When compared to Q1 of 2022, Twitter experienced a decline of 17% while Pinterest, TikTok, and Snapchat were winning big.

Then February was a period of bouncing back for Twitter and others, which suggests how some advertising was developing more interest in social media apps. As a whole, TikTok witnessed the biggest month-over-month gain. And it’s interesting considering how the US continues to increase scrutiny against the platform.

The traffic share still shifted away from Facebook and we saw the engagement of firms and advertisers display signs of shrinking for traffic shares. But you can’t really put Facebook in the same league as others.

The app’s business portal is made used for purposes such as organic social media marketing. There’s more focus on things like changes in share and changes in comparison when used for measures of indication of change.

Experts predict the app may end up losing out on advertising traffic share for a while now before it gets back into the race and goes head-to-head against Twitter.
Read next: Twitter Witnesses The Most Growth In Mobile Revenue Since The Launch Of Its Blue Subscription
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