2024 Digital Marketing Platform Showdown: Which Channels Delivered the Best ROI?

In 2024, brands and businesses will continue to navigate a dynamic digital landscape, striving to identify the best marketing channels that deliver the best digital marketing ROI.

With more platforms than ever competing for budget allocations—including Google Ads, Facebook, Instagram, LinkedIn, TikTok, and others—understanding each platform’s unique strengths and weaknesses can mean the difference between a successful campaign and a missed opportunity.

In this 2024 platform comparison, we explore which provided the best social media advertising ROI for different sectors, such as e-commerce, B2B, and local businesses, and how marketers can strategically allocate their budgets to maximize returns.

Google Ads: Dominating High-Intent Searches 

Google Ads has consistently demonstrated its value, especially for businesses focusing on high-intent keywords. By capturing users who are actively searching for products or services, Google Ads provides a more immediate opportunity to convert potential customers.

For example, an e-commerce business with high-demand products can benefit greatly from Google’s Shopping Ads, which display product images, prices, and descriptions directly in the search results. For local businesses, Google Ads’ location-based targeting ensures that users searching for “near me” services are served relevant ads, driving foot traffic or local conversions.

One of Google Ads’ greatest advantages is its versatility across ad formats—text ads are ideal for conveying value propositions quickly, while display and video ads engage users across the Google Display Network. 

While competition has driven up cost-per-click rates in many sectors, Google Ads remains invaluable for capturing immediate user intent and can be highly effective when managed carefully. Brands with smaller budgets may benefit from focusing on less competitive but relevant long-tail keywords.

Facebook and Instagram: Social Media Powerhouses for B2C

Facebook and Instagram are crucial for B2C brands, particularly in the fashion, lifestyle, and food sectors. 

In 2024, these platforms continued to drive ROI for businesses looking to expand their brand reach and nurture customer relationships. Facebook’s advanced demographic targeting allows marketers to reach audiences based on interests, behaviours, and location, while Instagram’s visual format is perfect for showcasing products and driving impulse purchases.

Instagram’s shoppable posts have become a game-changer, letting users purchase directly from ads without leaving the platform. 

This has increased conversions, particularly in e-commerce, where users can seamlessly move from discovery to purchase. However, one challenge with social media advertising is ad fatigue—frequent exposure to similar ads can diminish engagement rates. To counter this, marketers are leveraging video content, Stories, and Reels to keep ads fresh and engaging. 

Brands that continuously test creative elements and rotate ads frequently tend to see higher engagement and avoid ad fatigue, making these platforms more effective.

For businesses targeting consumers in visually engaging fields, Facebook’s broad reach and Instagram’s product-focused capabilities ensure that these platforms remain the top choices for social media advertising in 2024.

LinkedIn: B2B’s Most Reliable ROI Driver

For B2B companies, LinkedIn is unparalleled in delivering high-quality leads from relevant professionals. LinkedIn’s user base consists of decision-makers and industry professionals, making it a premium platform for software, finance, and consulting companies. 

Its Sponsored Content and InMail features provide a direct line to potential clients, allowing brands to share thought leadership articles, case studies, and other content that builds trust with prospective clients.

While LinkedIn’s cost-per-click can be significantly higher than other platforms, the potential for a high-value B2B lead often justifies the cost. 

By focusing on job titles, industries, and even specific companies, LinkedIn allows brands to precisely target their ads to those most likely to make purchasing decisions. This unique targeting capability is why LinkedIn continues to offer strong ROI for B2B-focused marketing strategies, despite the high CPC. 

LinkedIn’s Content Ads and native video options also help brands engage users with content that establishes authority, encourages trust, and invites conversion, making it an ideal choice for professional industries.

In 2024, LinkedIn saw a notable uptick in the usage of video ads, especially in industries like technology and consulting. Videos are shared 20 times more than other content. 

Brands leveraging these formats have reported stronger lead quality and higher engagement levels, demonstrating LinkedIn’s capability to adapt to new content trends while maintaining its unique B2B appeal.

TikTok: The Viral Potential of Gen Z and Millennial Reach

Although TikTok is still a relatively new player compared to giants like Facebook and Google, it has quickly established itself as a platform with serious ROI potential, especially for brands targeting Gen Z and Millennials. 

In 2024, TikTok ads continued to drive high engagement rates thanks to the platform’s addictive format, which emphasizes organic-feeling, creative content over traditional ads. The For You Page (FYP) algorithm is one of TikTok’s most powerful assets, surfacing content based on user behaviour to provide brands with extensive reach and engagement.

The platform’s unique ad formats—such as hashtag challenges, branded effects, and sponsored trends—encourage user interaction and participation, allowing brands to connect with audiences authentically. However, one challenge with TikTok advertising is the need to continuously produce fresh, creative content that fits the platform’s tone. Unlike Facebook or LinkedIn, where ads can be more traditional, TikTok’s audience demands authenticity and creativity, which can be challenging to scale.

Despite these challenges, brands that invest in understanding TikTok’s audience and produce content that aligns with the platform’s trends have seen impressive results. 

Sectors like fashion, lifestyle, beauty, and even some tech brands targeting younger consumers have achieved significant returns on TikTok in 2024.

Key Insights: What Influenced ROI in 2024?

Across platforms, several key factors have shaped digital marketing ROI this year:

• Audience Targeting: Each platform has strengths—Google Ads captures high-intent users, LinkedIn excels at reaching professionals, and Facebook and Instagram offer unparalleled demographic targeting. Choosing the right platform based on audience needs has been crucial for maximizing ROI.
• Ad Formats: The versatility of ad formats, such as Google’s Shopping Ads, Instagram’s shoppable posts, and LinkedIn’s Sponsored Content, gives brands more ways to reach and engage users effectively. Testing and optimizing ad formats has been essential to sustaining engagement.
• Creative Strategy: As platforms evolve, so do user expectations. Ads with dynamic visuals, interactive content, and engaging stories have performed best as audiences increasingly favour immersive experiences over traditional ads.
• Platform Algorithms: The algorithms behind platforms like TikTok and Instagram have given brands unique reach, with each platform rewarding different engagement styles. Understanding and adapting to these algorithms has allowed marketers to enhance visibility and engagement.

Strategic Budget Allocation Recommendations for 2025

For brands looking to maximize their digital marketing ROI in 2025, allocating budgets strategically across platforms will be essential. Instead of mapping out Google Ads vs. Facebook Ads, a strategic approach can identify the best marketing channels and maximize ROI.

Here’s how we recommend approaching budgets for next year:

• E-commerce: Invest in a balanced approach between Google Ads, which drives search-driven purchases, and Instagram, which excels at discovery-driven shopping.
• B2B: LinkedIn should be the core focus for B2B lead generation, supported by Google Ads to maintain visibility in search results. A small budget for Facebook retargeting can also be beneficial.
• Local Businesses: Google Ads with local targeting remains the most effective tool for capturing nearby customers. For businesses with a community angle, Facebook can supplement Google Ads with brand-building campaigns.
• Gen Z and Youth-Oriented Brands: TikTok is the key platform for reaching younger audiences, with Instagram Reels coming in second. For the best results, brands should also explore interactive ad formats that resonate with these users.

In 2024, each platform demonstrated unique advantages based on the type of audience and ad goals. To capture the best results, brands should prioritize platform strengths that align with their target audience and consider diversifying strategies where possible.

Boost Digital Marketing ROI with the Help of Consultus Digital

For expert assistance in managing digital marketing strategies tailored to platform strengths, Consultus Digital offers comprehensive support. 

From Social Media Marketing to Google Ads Management, our team is dedicated to helping businesses achieve measurable results with optimized platform performance.

Contact us to learn how we can help you!