Facebook has become part of everyone’s routine. When people pick up the phone or open a laptop, they go straight to Facebook. Companies know that the Facebook market connects more people than any other platform. They get business from active users on the website. Today, Facebook is the king of social media. With 1.62 billion daily active users, it’s an undefeated marketing platform.
The Decline of Facebook
The past two years have been a challenging chapter for Facebook. On January 31, 2018, Facebook reported loosing 700,000 users from Canada and the United States. Facebook has also been in hot water for data privacy breach last March 17, 2018. The Cambridge Analytica Scandal revealed Trump’s consultants exploiting millions of Facebook data. With trust in question, Facebook lost around $50 billion in stock market capitalization.
Competition has also outgrown Facebook. A February 2019 Forbes article showed that 33% of marketers shifted their ad spend to Amazon. The BofA Q3 Study in 2019 said that Facebook mobile app download decrease by 15%. In the same period, Snapchat, Twitter, and Pinterest downloads increase. By the end of 2019, Facebook stock drops at 7.5% as its growth decelerate.
With the number of decline in Facebook statistics, a popular question emerged. Is Facebook a dying market?
2020 Facebook Statistics Marketers Should Know & What To Do
Facebook continues to grow since its launch in 2004. Today, Facebook has an average of 1.66 billion daily users. It has maintained a steady increase of 9%. It seems like everyone is using Facebook. But for marketers, here are key demographics you might need to know this year and what you need to do:
The ‘Silent’ generation is the fastest-growing group on Facebook today.
Users born in 1945 or earlier had grown 40% in 2019. Marketers should keep this data when creating ads. The content should appeal to the ‘Silent’ thinkers being prominent Facebook users. They are contents that drive a meaningful connection.
Around 74% of Facebook users are high-income earners.
Around 74% of Facebook users are high-income earners. High-income earners have a busy lifestyle and don’t want to waste time with pushy ads. Marketers should create engaging stories and insightful content that offer them value. This strategy will increase the chances of conversion.
Highest traffic occurs on the platform during the mid-day of Wednesday and Thursday.
Facebook global engagement report showed that posts between 11 AM to 2 PM on a Wednesday and Thursday have the highest reach. For advertisers, this is the best time to post to reach more people.
Facebook stories now have 3 million active users daily.
They have grown to be a prominent place in the platform. It’s worth to invest in this kind of medium and focus on creative content.
Only 6% of ad revenues come from desktop users while 74% comes from mobile.
The percentage shows that most people access Facebook using their mobile phones. Advertisers should spend more time targeting mobile users. They must optimize their social media content to be mobile-friendly.
There is a 37% increase in Facebook Ad Reach and a decrease of 6% in ad pricing.
Now is a great time to market on Facebook. With the impressions increasing and ad cost dropping, a business will continue to grow in Facebook marketing.
Facebook is not a dying market. There may be a decline in some of their figures. But even with bad publicity, their numbers are going up. Facebook marketing is a must for every brand. By knowing Facebook statistics, a business can change its content strategy to increase engagement and meet their goals.
Facebook ads are the cornerstone of every business. To stand out with 50 million Facebook users, one will need excellent content. A digital agency can showcase your ads perfectly and effectively build your brand.