Ah Facebook, you either love it or hate it. It’s dominated social media for a decade with 2.8 billion active users as of March 2022. It bought out two of it’s biggest competitors, WhatsApp and Instagram to further dominate the market. The likes of Twitter and Pinterest have never been able to get anywhere near keeping up. Linkedin too, but that’s not a straight comparison — it will also have less users because it’s a professional social network, whilst Facebook is for everybody.
As recent as 2017 and 2018, Facebook started to decline. Lawsuits were successfully issued to Facebook and it’s owner Mark Zuckerberg for huge sums of money. By huge sums I mean huge for you and I, not for Facebook!
The lawsuits were caused by uproar when it became clear to the world that Facebook had so much data on it’s users and their activities. It was argued that users didn’t realise how much information they were freely given away.
Alongside the lawsuits, millions protested by the only way they knew how — deactivating their accounts and never going on again. Facebook initiated changes such as removing some of the data advertisers could use to target audiences, as well as making it easy for every user to openly see any ads any page or business was running.
All of this impacted Facebook’s primary stream of income — businesses running ads on its platforms. It was, and still is, harder to target the right kind of people in your Ads. And there is less people to target. In addition, a lot of users are more aware of advertising in general, and really oppose them.
It’s not over, not by a long shot
Facebook Ads has been the #1 tool that I use for Marketing for 5 years. I have very much seen things get slightly harder, but not to any extent where I’d consider stopping them. Facebook Ads are arguably the best performing paid ads in the game — better than Google, Youtube, Linkedin.
The biggest and most successful businesses in the world advertise heavily on Facebook.
Some would say that big businesses can afford to burn money on advertising that has seen it’s time, but I disagree. Every industry & niche is becoming increasingly competitive — and worldwide financial stability is wobbly at best. Do you really believe even the biggest companies would spend thousands, millions on ads if it wasn’t worth it for them? Nope.
Now of course, eventually, one day, Facebook will be replaced by superior social media and advertising platforms. We’ve seen it time, and time again. Before Facebook, you had Bebo and Myspace.
I believe Facebook is more resilient to the typical rate at which social networks expire, because they have already acquired their biggest competitors. And when other’s come up, they may buy them. Or maybe they will get buried by them.
Facebook’s time will absolutely come. But do I see it any time soon? Not a chance. In my professional opinion, and seeing the changes and impacts to paid advertising each and every day (I’m never off Facebook Ads!), Facebook has many years left in it.
It’s still an amazing way to run paid ads, allowing advertisers to target only the right type of people. This is great not just for advertisers, but the literal billions of daily Facebook users. Nobody wants to see adverts for things that are not applicable to them or would ever be of any interest.
My message for current advertisers: Keep going, don’t stop investing in Facebook Ads.
My message for potential advertisers and new businesses: Start running Facebook Ads already!
A Gift For You
As a thank you for reading today I want to offer you a free copy of our guide: The 9 Key Components For Running Facebook Ads To Your Webinars And Events.
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Finally, I have an ever increasing catalogue of free resources to help you fill your events and webinars.
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