Although many people are thinking contrary, Facebook is not dying. Facebook is maybe less cool than it was before, but it definitely has its audience.
In the last few years, there has been a lot of speculation that Facebook and FB advertising could soon be a thing of the past.
The truth is that Facebook is currently a lot less popular than a few years ago, especially among generation Z. Although younger people don’t have much interest in Facebook, it is still one of the leading platforms for sales and advertising.
While there are many other ways to advertise, Facebook advertising is one of perhaps the most popular. Over the years, many companies and online stores have attracted their customers via Facebook, so it is hard to imagine that it will soon become a thing of the past.
Facebook is a social media that many of us still use regularly, directly or indirectly. We interact as business owners, driving social media campaigns or regular users to keep in touch with one another. Whether we like it or not, it has become an integral part of our lives.
In this article, we will try to answer the big question “Is Facebook dying?” and corroborate it with relevant statistics.
Is Facebook dying?
Some predictions were that it would slowly die in 2020, but it is already 2021, and Facebook is still alive.
There is always a risk for Facebook to die, but it all depends on what you look at. The current statistics, on the contrary, show that Facebook is doing great.
Despite the massive popularity of Instagram and TikTok, Facebook still has its place and audience in the world of social media.
When it comes to any social network, it is essential to understand its functionalities and the culture of the people who use it. From day one, Facebook was a place where people connect with their friends, acquaintances and share common interests through groups.
On the other hand, if you’ve invested your time creating a business page on Facebook, it’s still worth taking the time to engage with it.
It is no secret that Facebook makes money by selling advertising. If you are a business owner, you probably know that Facebook makes most of its revenue from advertisements. Companies from all industries pay Facebook to show their ads to Facebook users in their markets.
Because Facebook has access to more than 2.79 billion people and knows so much about its users, advertisers benefit from very detailed targeting. They can reach people by gender, age, occupation, location, interests, and much more. Every single action you do on Facebook is a data point that Facebook uses to target you better.
Facebook ads are usually a more profitable way to market your business than other advertising channels.
Facebook ad: Data you can’t ignore
Did you know that Facebook’s total ad revenue in 2020 was $20.7 billion?
Facebook is one of the most cost-effective advertising tools because of its substantial organic reach. Facebook ads have helped organizations and businesses achieve their campaigns’ goals – generating potential customers, increasing sales, or getting more traffic to their websites.
The global pandemic during 2020 shifted many retailers to focus on the online space, which increased their Facebook ad spending.
Facebook is still the biggest driver of ROAS and yet the most significant traffic driver. According to the Wolfgang Digital KPI report, Facebook is still crucial for conversion, social media traffic, and ROAS. On the example of their business, the report shows that Facebook feed drives a pretty high ROAS, which means that 88% of clicks come from the Facebook Feed.
The company analyzed the percentage of sales per placement and found out that 93% of sales are coming from ads on the Facebook News Feed. This is closely followed by Facebook Messenger and Facebook Marketplace.
On Messenger and Marketplace, users engage and shop, so try to consider them as a crucial component in your bottom-of-funnel strategy. The data shows that Facebook is still the king when it comes to conversion and traffic.
Facebook Ads and Groups are nowadays more significant for brands than ever before. If you want to increase your brand’s engagement, explore these statistics and use them to boost your Facebook engagement.
From food, parenting to pet and digital marketing groups, there are over 1.8 billion different groups on Facebook. Facebook Groups are spaces on the social media network for people who share the same interests and passion for a specific topic. Groups are a place for discussion about products, services and present the opportunity to cultivate brand awareness.
The statistics show a completely different direction. If Facebook is dying, how come it still maintained a high number of users?
Does anyone use Facebook anymore?
A few years ago, deleting a Facebook profile was a very courageous move. It used to be a platform that connected us with friends, family, acquaintances, colleagues and became a massive part of our lives.
Who are those billions of users who use Facebook? They are represented in all age groups and come from countries around the world.
As of January 2021, it was found that 9.6% of global active Facebook users were women between the ages of 18 and 24 years and male users between the ages of 25 and 34 years. They constituted the most significant demographic group of Facebook users, according to Statista.
Among countries with Facebook users, India has 310 million users, the US has 190 million, and Indonesia counts 140 million. Global usage of Facebook is not limited to the US, which is excellent news for international businesses or brands.
The statistics show that 86% of internet users with $100k+ income per year use Facebook. 81% of users earn $60–$70k, and 88% of users with household earnings of $30–$60k earners use this social network. These are great news for advertisers because with tailored ads you can target different income levels without worrying about a low target count.
According to the Facebook survey, 2/3 of users across all countries said they visit the local business pages at least once a week. Since this is valuable information, make sure to update your Facebook business Page with the latest news regularly.
Will Facebook keep growing?
With over 2.79 billion monthly active users worldwide and an increase of 12% year-over-year from September 2019, Facebook is still on the throne of social media networks.
According to data, this number is expected to grow in the US, from 228.6 million to 237.8 million by 2025. If you need proof that it is crucial to incorporate Facebook into your marketing strategy, this is it. Is there any other platform with this kind of reach? Not yet.
People think that Facebook is dying because today’s young generation, especially teenagers, has started using other platforms more. They think Facebook is not so cool anymore and connect this platform to older generations, to connect with their parents and grandparents. Facebook is now considered an old-generation platform.
The truth is, Facebook has changed the world of social media forever. Whether we want to admit it or not, Facebook is still a considerable part of our lives.
All in all, Facebook is just a social network, and every social network can fail pretty fast and easily die, just like MySpace did. Although the reputation is not the best and many want to tame Facebook finally, the statistics keep rising. Right now, one thing is sure – Facebook doesn’t have to worry about its survival.
Nowadays, businesses need to hone in on their online presence more than ever. Since Facebook is still the most-used social media platform globally, it seems reasonable that you should take advantage of it.
Let us hear your thoughts on this subject. What do you think about one of the biggest social networks? The comment section is waiting for you.