The business model used to be a pretty universal term. The same skeleton applied to many businesses, and it involved a customer becoming aware of a product (billboard, print ad, yellow pages, etc.), speaking with the seller and thinking their purchase over for days (or weeks) after getting a quote, and (hopefully) an eventual purchase. That process could drag on and on, decreasing the likelihood of a sale with each and every passing step of the linear path. Fortunately for both businesses and consumers, that changed as technology and digital practices evolved, streamlining every step of user behavior and the business model. Now, if someone needs something, they can go online, find exactly what they're looking for, and have it in just one day. Or, if someone is curious about a product or service, he or she can research online, read reviews from other buyers, and watch product demos before making a purchase.
Consider that according to Deloitte 93% of consumers use their phone while shopping. "Consumers now check their smartphone more than 9 billion times per day and increasingly do so while engaged in other activities, such as watching television (TV) – with 89 percent of consumers reporting simultaneous use of the TV and smartphone." Gues who leads the way with triggering buying...FACEBOOK
Check out these Stats...
1. 68% of all adults in the United States use Facebook.
According to Pew Research Center, 68% of the U.S. adult population are Facebook users. What does this Facebook advertising statistic mean for your small business? There’s a good chance that your target buyers are on Facebook. Why not use Facebook advertising to reach them?
2. 76% of Facebook users visit the platform each day.
Another major one on our list of Facebook advertising statistics, is that 76% of Facebook users report that they use the social media platform daily. And 55% of these users visiting the site several times each day. With so many active users, Facebook offers a great opportunity for small businesses to regularly interact with their target buyers. This can help you increase brand recognition over time.
3. The average user spends about 50 minutes each day on Facebook’s channels.
In a 2016 Facebook report, Mark Zuckerberg reveals that the average person spends just a little less than an hour each day using Facebook, Facebook Messenger, and Instagram (also owned by Facebook). That means that if you want to be where your customers are, you’ll need to consider advertising on this powerful social media platform.
4. Overall, 83% of women and 75% of men use Facebook.
A Pew Research report shows that it is a pretty even distribution between the genders when it comes to Facebook use. In fact, 83% of women and 75% of men are Facebook users. This shows that no matter who your target market is, there’s a good chance that you can reach them on Facebook.
5. On average, people access Facebook about 8 times each day.
A report from comScore reveals that users access Facebook pretty frequently. In fact, the average Facebook user checks the platform about 8 times each day. If you want to stay top of mind for your target buyers then you may want to engage them on Facebook through both organic content and advertising. This can help you increase social media sales over time.
6. Of all the time spent on mobile devices, 19% of it is spent on Facebook.
The key to connecting with consumers on social media is to meet them where they are. When it comes to Facebook, it seems that many users are accessing the platform through their mobile device. According to a Flurry Analytics report, 19% of the time spent on mobile devices is used browsing the Facebook app. This just shows the importance of developing mobile Facebook ad content to attract these consumers.
7. To date, Facebook users have made over 2.5 trillion posts.
TechCrunch reports that since the social media platform’s inception in 2004, Facebook’s users have made more than 2.5 trillion posts. This not only shows the popularity of the social media site and how engaged its users can be, but it also hints at the level of competition that businesses are facing when they engage with consumers on Facebook.
Remember, the Facebook content that you publish is competing with users’ friends, family, and colleagues for the attention of your target audience. Make sure that your Facebook content can stand out in the crowd while also providing value to the user. You can also help ensure that more users see your content by integrated ad content and promoting posts.
8. 42% of millennials can’t go 5 hours without checking Facebook.
A 2017 study from eMarketer showed that 42% of millennials just can’t stay away from Facebook. In fact, they reported that they cannot last more than 5 hours without checking their Facebook feeds. If you are marketing your products or services to the millennial target market, it’s vital that you include Facebook advertising as a part of your online marketing strategy.
9. As of May 2013, 16 million local business pages have been created.
Facebook reports that 16 million local business pages have been created since May 2013. This is a 100% increase from the 8 million that had created business pages as of June 2012. This is a testament to the power of Facebook engagement and advertising for businesses. More and more businesses are quickly finding out that if they want to remain competitive in the digital marketplace, they need to get on Facebook.
10. Over 5 million businesses are using Facebook ads to reach their target audiences.
Facebook reported in April 2017 that they had 5 million advertisers on their platform. This is a considerable increase from the 3 million companies that advertised during the same time in 2016. Of all the Facebook advertising statistics, this one really shows the power of advertising on this platform. This statistic is a testament to the fact that more businesses are realizing that Facebook advertising is not only effective but vital in helping them remain competitive in the busy online marketplace.
11. 62% of marketers find Facebook to be their most important social media channel.
A Social Media Marketing Industry Report developed in 2017 shows that 62% of marketers prefer Facebook as a social media channel. This is most likely due to the fact that Facebook has a large user-base that is diverse in terms of a number of different demographics, including age, gender, and race. Facebook allows marketers to reach a wide group of consumers that may be interested in their product or service offering.
12. Facebook is the number one ad channel for both B2C and B2B companies.
The same Social Media Marketing Industry Report mentioned above found that 72% of B2C marketers reported that Facebook was their top social advertising channel. While 43% of B2B marketers also named Facebook as their most important advertising channel, passing LinkedIn.
13. On average, Facebook users make 2 billion searches every month.
Facebook users aren’t just using Facebook to connect with friends and family. TechCrunch reports that Facebook users make an average of 2 billion searches on the social media platform each month. Consumers are not just using search engines to find new brands. They are also turning to social media to search for relevant topics and businesses. This presents a huge opportunity for brands that want to increase their visibility online. (Just keep in mind these Social Media SEO tips.)
14. 94% of social media marketers are using the Facebook ad platform.
Though Twitter, LinkedIn, and Instagram are among the top platforms that social media marketers use, Facebook is still the most popular. The Social Media Marketing Industry Report 2017 shows that 94% of social marketers are using Facebook. If you are part of that 6% that hasn’t yet gotten their brand on Facebook, it’s time to act fast.
15. 49% of Facebook users like a brand’s page to show their support.
Contrary to popular belief, consumers are not just following brands on Facebook to get the latest deals or coupon codes. A study from Syncapse shows that 49% of respondents reported that they like a brand’s page to show their support. While 42% responded that they like a brand’s page to get coupons or discounts.
This can have important implications for brands who are trying to engage their customers on Facebook. Advertising with promotions and special deals is not enough. You also need to engage your followers and continue to provide value for them so that they continue to support and advocate for your business.
16. The average social media marketer posts on their branded Facebook page 8 times per day.
In a survey of social media marketers, Social Media Examiner found that on average, these marketers post on a branded Facebook page about 8 times a day. What’s more is that they found that 39% of the marketers surveyed reported increasing their Facebook posting frequency.
If you aren’t posting consistently on Facebook, you may be missing out on the opportunity to engage your fans and followers. Even though consistent posting is important, your business should still include Facebook ads as part of your strategy since organic reach has declined. But more about that in our next point…
17. Branded Facebook pages only reach about 2% of fans with organic posts.
Facebook often changes its algorithms to provide more relevant content in its users’ feeds. As a result, over time the organic post reach for branded pages has decreased. According to AdWeek, the average branded Facebook post will only reach 2.6% of the organization’s fans. This means that about 97% of your Facebook fans are not seeing your content regularly in their feeds.
What’s the solution to this problem? Facebook advertising! Facebook ads help improve your reach on this social media channel. With advertising you can ensure that your fans and followers are seeing your promoted content.
18. Brands are increasing their use of Promoted Posts.
As a result of the decrease in organic reach, many brands are increasing their promoted posts. In fact, a 2015 study by Socialbakers shows that brands have increased their use of Facebook’s promoted posts by 80% from 2013 to 2015. This will only continue to increase in the future as organic reach continues to drop.
19. 500 million people watch Facebook videos each day.
Recode.net reports that more than 500 million Facebook users are using the platform to watch videos every day. This presents an enticing opportunity for brands that want to stand out and reach more customers on Facebook. Video ads can be a very effective tactic for improving conversions.
20. The average engagement rate for Facebook videos is 6.3%.
Video content that is native to Facebook has a higher engagement rate than YouTube or Instagram videos. EMarketer found that the average Facebook video engagement rate is 6.3% as compared to 3.2% for videos on YouTube and 0.2% for Instagram videos. Again, if you want to capture your audience’s attention and increase engagement with your page, you migth consider adding Facebook video content to your advertising strategy.
21. Facebook video ads have the lowest CPC.
Not only are more Facebook users engaging with Facebook video content, but Facebook videos offer one of the best cost-per-click (CPC) rates of any social media ad. Kinetic Social’s 2015 report found that Facebook video ads have an average CPC of $0.18. This makes Facebook video ads a very affordable option for small businesses.
22. Facebook CTA buttons increase click-through rates.
Using Facebook’s call-to-action buttons can help you increase click-through rates on your Facebook ads. According to Sprout Social, using the Facebook CTA button can nearly triple your click-through rates. If you are looking for ways to improve the number of clicks on your ads, try experimenting with the Facebook CTA buttons.
23. Facebook advertising revenue just keeps increasing.
CNBC reported that in the first quarter of 2017, Facebook earned about $7.86 billion in advertising revenue. This number is up 51% from the previous year. This shows just how many businesses rely on Facebook advertising to reach and engage their target buyers. There’s a good chance that this will continue to increase as more businesses start to launch Facebook ad campaigns.
24. Engagement is highest on Thursdays and Fridays.
Based on information provided from Bit.ly, it’s clear that Thursdays and Fridays garner the most Facebook engagement. On these days, engagement is 18% higher than other days of the week. Keep this in mind as you plan your Facebook advertising campaigns to maximize results.
25. Only 42% of marketers feel that their Facebook marketing is successful.
Though most marketers recognize the importance of marketing on Facebook, not every marketer is sure about whether their efforts are successful. According to Social Media Examiner, 42% of those surveyed were not sure if their Facebook efforts were working.