Social media. As the highly influential and reactive force in society, it has been fertile ground for marketers worldwide. This is due to its virality and centrality among all age groups to showcase products across any device. Among the top social media applications, Facebook has dominated in terms of the number of users and its reach. With over 1.49 million active, daily users and 2.23 billion monthly users, Facebook is the largest social media application on the web.
While it’s a place to connect with friends or interest groups, it’s also a platform for advertisers looking to reach the largest audience on social media. Now, 93% of social media advertisers use Facebook ads. An example is Tasty, Buzzfeed’s cooking company, which is the sixth-largest Facebook page in the world. They produce 40-seconds cooking instructional videos and have a following of 97 million users. Based on their statistics, each video can garner up to more than 1 million views per video – and profit up to $50,000 through Facebook ads.
With such reach potential, marketers need to adapt and evolve their marketing strategies to fit the fast-paced indsutry to advertise effectively to large volumes of online users. Hootsuite reports that 26% of users who clicked on Facebook ads made a purchase, with more than 57% of consumers saying social media influences their shopping. Moreso, 78% of American consumers discovered new products on Facebook through ads. With over 57 billion views on Tasty’s Facebook page in 2017 thanks to Facebook ads, companies looking for online success may have to start cooking up some Facebook ads of their own.