On February 4, 2004, a Harvard University undergrad named Mark Zuckerberg introduced TheFacebook.com, a social networking site for his fellow students.
Fast forward twenty years, and Facebook stands tall as a social media giant, displaying unprecedented staying power amidst a landscape littered with the remains of its early competitors like MySpace and Friendster. However, with hugely popular platforms such as X, Instagram, TikTok and LinkedIn, is Facebook still a relevant tool for marketers in 2024?
With more than 2 billion active daily users, Facebook boasts the widest reach of any social media platform. For small and local businesses, having a presence on Facebook is not just advantageous – it’s essential.
Facebook’s allure lies in its “stickiness.” Users spend an average of 20 hours per month on the platform, equating to over 35 minutes daily for each of its billion-plus users. A thriving ecosystem of constant users means a higher likelihood of your target audience stumbling upon your business page.
Facebook’s dominance in social media shows no signs of waning. In the first quarter of 2023 alone, the platform’s global user base reached a staggering 3.03 billion. This presents an unparalleled opportunity for businesses to capture the attention of potential customers within their Facebook newsfeeds.
Facebook’s user base spans all age groups, offering marketers access to a diverse audience ranging from teenagers to seniors. In the UK alone, Facebook has 44.84 million users, with the average spending 23 minutes on the social network every day. Whether your target demographic is teenagers, young adults or seniors – Facebook provides a platform to engage with them effectively.
Facebook’s advertising capabilities are highly refined, allowing marketers to select audiences based on location, age, gender, interests and behaviours. Custom Audiences and Local Awareness ads enable businesses to tailor their marketing efforts precisely to their desired demographics, enhancing the effectiveness of their campaigns.
With an average cost of £11.80 per thousand impressions, £0.76 – £1.06 per click, and £4.47 per action, Facebook advertising offers an affordable option for businesses of all sizes. Additionally, the ability to set and manage budgets ensures transparency and control over marketing expenses.
Facebook provides robust analytics tools like Insights and Meta Pixel, enabling marketers to track the performance of their campaigns comprehensively. These tools offer insights into engagement metrics, ad performance and audience behaviour, empowering businesses to optimise their strategies for maximum impact.
Facebook’s enduring relevance in the digital sphere underscores its importance for marketers. From images and videos to carousels and instant experiences, Facebook supports a variety of ad formats, catering to diverse marketing strategies and objectives. By leveraging the platform’s extensive reach, targeted advertising options and comprehensive analytics, businesses can effectively engage with their target audience and achieve their marketing objectives.
In the rapidly evolving digital landscape, staying ahead requires expertise across multiple domains. At Cordis, we specialise in social media management, copywriting, graphic design, website development, events and videography. Our integrated approach ensures that your business remains relevant and competitive in 2024 and beyond.