Since Facebook’s inception in 2004 it’s usage has been on the rise and has steadily become the most famous social networking site worldwide (as of September 2017 and ranked on number of active users).*
Facebook’s daily active users were 1.23 billion on average for December 2016, an increase of 18% year on year and eMarketer estimates 31.6 million to be from the UK.**
Therefore we know that the audience is there using Facebook and with an age range of users between 13 to +65 years, of both genders… worldwide, you would be crazy to think that your target market isn’t using Facebook already.
So why do you need to invest in Facebook advertising when you can get a page and create posts for free? It all comes down to the changes Facebook keep making to their algorithms. Recently Facebook made it a lot harder for businesses to get any reach through their posts as they are prioritising friends posts above businesses. They say they did this to increase the customer experience but it also means that for businesses to utilise and get any benefits from Facebook they need to spend the money and advertise with them… therefore increasing Facebook’s revenue.
Now this isn’t all bad because over the recent years Facebook have been focusing a lot on the different targeting options available to businesses through advertising, which now allow you to reach people you wouldn’t have been able to before, target people in specific areas or demographic and even remarket to people who have interacted with your business previously… and much more.
These changes seem to have worked because in the fourth quarter alone, Facebook’s ad revenue grew 53% year on year to $8.6bn and of this 80% came from mobile advertising revenue***. This just shows that businesses are spending this money and advertising on Facebook.
If your competitors are doing it…. Shouldn’t you be too?
The great thing about Facebook Advertising is done correctly it can carry a great return on investment, it offers multiple ways to engage and reach your audience, and it’s a platform that audiences do engage – whatever your sector.
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*Statistics from Statista https://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/
** Campaign Online
*** Campaign Online