Facebook is not what it used to be – kind of. It is still the premier place to connect with friends, family and business. In this way it hasn’t changed except to make it easier for people to connect via desktop, tablet and mobile device. To date, 84% of Facebook viewers are visiting from mobile devices which equates to about 1.19 billion people. These days, they are easier to acquire than finding a desktop in many countries. Some 890 million people are logging into Facebook every day. This is an opportunity.
What has changed is how social marketers can get face-to-face with these users for maximum impact. Content is still king and relevant content will always interest your existing followers, subscribers and customers. But, it is not enough in this new arena. Ads are where it’s at and Facebook is demanding that you put your best foot forward in this regard.
A well-crafted Facebook ad can be a goldmine. It takes some tools (provided by the good guys at FB), ingenuity, savvy and great images. If you’ve ever created an online ad before, then you are familiar with these skills. Here is what these skills equate to in Facebook advertising terms*:
- 92% of social marketers are using Facebook for business
- 30 million businesses have created a Facebook fan page
- 19 million have optimized their pages for mobile devices, which is a good thing, considering the stats on mobile Facebook users
- 1.5 million businesses spend money on mobile advertising
- 64% of advertising revenue came from viewing ads on other devices
- In 2014, with 65% fewer ads than the year before, the revenue was higher, registering at $3.85 billion
- Second quarter of 2015: revenue climbed to $4.04 billion, a 39% increase
- Facebook is showing fewer ads but advertisers are paying about 335% more per ad, spending about $3.59 billion (53% more than the year before)
- Total Facebook revenue in 2014: $12.47 billion
- Mobile ad revenue accounts for 76% of advertising revenue and 72% of total revenue
*Sources: (http://blog.hubspot.com/marketing/facebook-advertising-statistics, http://adage.com/article/digital/facebook-s-mobile-revenue-hits-2-5-billion-prices-soar/296869/, http://www.statista.com/chart/2496/facebook-revenue-by-segment/)
What does this mean for you, the online social marketer? Facebook is on to something. If fewer ads are bringing in bigger revenues and more advertising dollars, then the competition is fierce. But, you can compete when you put together the best ads that money can buy.