Innovation in Ad Formats and Targeting on Social MediaEvolution of Social Media Advertising Since 2007

The trajectory of social media advertising has undergone a monumental shift since its nascentstages in 2007, particularly with the advent of platforms like the Facebook Ads Platform. Thistransformation signifies a paradigm shift in marketing strategies, compelling marketers to adapt tothe dynamic digital landscape presented by platforms such as Facebook, Twitter, and Instagram(Lee, 2020). Traditional marketing approaches are facing challenges due to the rise of empoweredcustomers who actively contribute to a firm's marketing efforts (Li et al., 2022). Social mediamarketing integrates the utilization of social media practices and principles into broader marketingstrategies, underscoring the increasing significance of technological advancements in economicactivities (Praja et al., 2023). The evolution of social media platforms has progressed significantlyover time, integrating more sophisticated technologies, increasing their effectiveness ininfluencing customer behavior, and optimizing customer reach in a timely manner (Dhingra &Mudgal, 2019). Consequently, marketers have widely adopted social media as a crucial marketingchannel, leveraging its potential to reach vast audiences who dedicate substantial time to various