Before we get into why to be advertising on Facebook … let’s look at the numbers to give some context. I don’t think anyone can argue that Facebook is the 800-pound gorilla in the social media world right now. Just in case there’s any doubt in your mind, check out this graph based on the statistics Facebook has released over the years:
The Top 7 Facebook Statistics In 2017
- Daily active users worldwide– 1.37 billion on average for September 2017, an increase of 16% year-over-year.
- Monthly active users worldwide– 2.07 billion as of September 30, 2017, an increase of 16% year-over-year.
- Facebook had their first quarter with over 10 Billion dollars in revenue, in the 3rd quarter of 2017. This is a 49% increase of 6.8 Billion in 2016.
- Mobile ad revenue was $8.9 billion– a 57% year over year increase — making up approximately 88% of total ad revenue.
- More than 20 million businesses are communicating with customers through Messenger.
- Today more than 550 million people are using Marketplace and Buy-and-Sell groups on Facebook to connect with other people for transactions.
- Facebook has over 6 million active advertisers and recently announced that Instagram (owned by Facebook) has over 2 million advertisers. The vast majority of these are small and medium-sized businesses.
Facebook has transformed how many people conduct business and as crazy as it may sound… how many people conduct their everyday life. I can be the first one to raise my hand and says it’s dramatically changed my life in many ways.
Even though many people are on Facebook, many have yet to realize that Facebook is more than just a social networking site to post photos, images, and statuses – it’s one of, if not the most powerful place to find the exact type of person that would buy your product or service.
Facebook Ads… people either love them or hate them.
I believe the reason some business owners ‘hate’ Facebook ads is that they either get impatient, carelessly use them or don’t have a goal of why they’re actually advertising on Facebook. This, of course, makes them lose money and they blame the platform.
Another reason is many people don’t truly understand their target audience, so they place ads in the news feed of the wrong people. The Facebook Ad platform gives anyone the ability to get their brand, products, and services in front of a VERY, targeted, specific ‘dream client’. As good as that sounds, advertising on Facebook will not fix a broken sales funnel, a dysfunctional business, or magically make people want a product nobody wants.
Facebook ads are more of a powerful amplifier. If you have a well-run business, converting sales funnels, and a problem-solving product… you will see mind-blowing results advertising on Facebook, I can almost guarantee it.
Facebook ads are super profitable… If, and that’s a big IF, you know what you’re doing. The platform is always changing, so we have to always be learning with the times.
Billions of people see ads on their platform each month. Facebook’s chief executive, Mark Zuckerberg, disclosed that the average Facebook users spends 50 minutes a day on the platform during the company’s earnings call April 2016.
In conclusion, with Facebook ads you get access to the many people, but for far less than traditional advertising. It all comes down to creating a message that truly resonates with people and knowing how to use the Facebook advertising tools that are ready at your command.