Since the day when a young Harvard student named Mark Zuckerberg put the first social network in history online for the first time, Facebook has always seen the number of registered users grow exponentially. On the other hand, the strength of Facebook (and of all social networks that use the same formula) is precisely linked to the ever-increasing number of people who interact with that platform.
This business model is called the ” network effect ” and is based on the assumption that the more people are part of a network, the more people will be incentivized to join that network. In recent years, however, the increase in users that has always accompanied the social network has slowed down, and, in the last quarter of 2021, the number of users has dropped by about 500,000. And this seems to be just the beginning (of the end). So is Facebook still a channel worth investing in to advertise? Let’s find out together.
Is Facebook Still Popular?
According to data provided by Facebook or, better said, Meta, at the end of last year, there were 2.8 billion active users on the platform, with over 1.84 billion people publishing content every day. One in two people declares to use Facebook, mainly from smartphones. Despite the slight decrease in users, Facebook remains the most used social network globally.
This figure alone should answer the question we have titled this article. However, some considerations are in order. Analyzing the data in-depth, it emerges that the average age of Facebook users is between 25 and 39, with a strong presence of over 40s. This data provides two exciting foods for thought.
Trends Of Today
In the first place, it is now clear how the father of social networks cannot take hold of the younger audience. Kids under 20 prefer platforms like TikTok. This reveals a trend that will lead more and more users to other venues in the coming years. Secondly, however, it should be noted that the users with the highest spending power are adults or the age group that still frequents Facebook. Therefore, as long as the latter is densely populated, as it is now, it will continue to present excellent advertising opportunities.
To date, we can say that Facebook is still the best channel for advertising, but it is essential to predict what the future trends will be to be caught unprepared for changes. As mentioned above, young users who choose to subscribe to a social network opt for platforms that are more attractive to their young age, TikTok above all. This will lead to a shift from Facebook, which has already begun, to other platforms in the long run. Therefore, it will be necessary to continue to monitor the use of all the major social networks on the market to anticipate any commercial opportunities.
Another aspect to consider concerns the new privacy rules implemented by the web giants, such as Google and Apple. These new rules, which allow a user to choose if and when to be tracked, run counter to Facebook’s business model, relying heavily on targeted advertising. In practice, Facebook advertisements are less accurate as fewer people are tracked. Therefore, it will be up to Zuckerberg to find a solution to overcome this problem. And we will be watching. Finally, industry experts are convinced that the future of the web will consist of the Metaverse, in which Zuckerberg is investing heavily, as its leading promoter. Also, the commercial possibilities are vast, but all to be discovered in this case.
For Now Facebook
The signs indicate that things will change in the not too distant future. However, today Facebook is still the best solution for e-commerce that wants to advertise on social media. The reasons have already been partly gutted: its popularity, declining but still intact, and the age range of its users. In addition, Meta has purchased two other platforms, Instagram and Whatsapp, which add value and commercial possibilities to the advertisements on Facebook.
The most exciting strategy at a commercial level is, in fact, that of omnichannel marketing, which allows a commercial activity to reach its customers (and potential ones) through different channels, both live and online. The goal is to build a solid and constant web presence, and 18 years after its inception, Facebook is still the best solution.