Facebook has certainly had an interesting journey. Ever since its inception, in 2004, Facebook has metamorphosed into a multinational technology conglomerate now called Meta. A far cry from the simple social networking service, it was envisioned as. Actually in 2011, Facebook had become the largest online photo host which highlighted where their founders focus at the time.
While at the same time starting what became informally known as facebook advertising agency. This pseudo advertising agency got its first big deal in 2006 when Microsoft signed a three year agreement with Facebook to be the exclusive provider and seller of sponsored links and banner ads. In August, of that same year, Facebook launched its video advertising platform. A year after, Facebook launched its Facebook Ads platform and began an entire movement. It gave businesses the space to create individual profiles, just like standard users, to post content, share photos, and engage with Facebook users. In the subsequent years, Facebook introduced various language ad options and geographical targeted ads options, retargeted ads, image ads, carousel ads and video ads.
They started a real push towards mobile advertising in 2012, one that provided limited real estate to advertisers, pressing businesses to create engaging, interesting content to capture consumer attention within tight spaces. And also gave people the ability to upload photos and send or receive messages on the go. In 2013, Facebook released Facebook Pixel. An outside pixel is code provided by Facebook that was pasted into the header tag of a specific page on a website, which alerts Facebook that a conversion event has been completed. Essentially, Facebook pixel is implemented on a website, Facebook is able to track users who click on the ads that link to the website and determine whether they made a purchase on the website. In 2017, Facebook updated its Ads Manager interface and introduced two different workflows: guided creative and quick creation.
They also updated their Ads Manager to allow advertisers to save edits and publish changes immediately. But the question is are Facebook’s ads still relevant and making an impact. Facebook is more than just about me or you and all the other 2. 2 billion people on this planet. Facebook still maintains many of the tools that are used by businesses around the globe.
So Facebook is still quite relevant worldwide. Despite all the changes over the years, Facebook is still the second largest advertising market behind Google. In fact Facebook has about 1. 84 billion users daily, which means there is always a potential for new audiences for companies and brands. Although there are many recent pretenders such as Twitter, Instagram, Snapchat and more, Facebook still remains on top at least for now.
And compared to all the other social media platforms, mentioned and unmentioned, Facebook has the greatest number of daily active users. Currently, most of Facebook’s revenue comes from advertisements. In 2020, Facebook generated close to 84. 2 billion dollars in ad revenue. Pretty impressive.
In addition, 90% of marketers use Facebook for their ads and return fantastic results from the precise targeting abilities and using pixels for retargeting. If a company’s target audience is over the age of 30, Facebook ads for marketing are still extremely relevant. These ads can be tailored by demographic and interest more so than on other social media outlets. Facebook marketing also offers more freedom in terms of budget constraints. Ads can be run on an ad campaign with a low budget and still expect to see results from it. There is also more flexibility to adjust and redefine ads to generate optimal returns by exposing them to the exact target audience that will most likely take action.
Which is the name of the game. Facebook also tracks users on the platform and tracks users off Facebook across the internet. From websites, apps, to physical places, pixels and cookies collect consumer data and send it back to Facebook. This information is invaluable to marketers. Knowing more about consumers leads to a better and more relevant ad experience. As intrusive as that sounds.
There are also many options to run Facebook ad campaigns on Facebook and Instagram. If a company wants to just run ads on Instagram, that can be done as well. It’s all there in Facebook Business Manager. Facebook also has a massive team working to update their technology and keep things fresh. Facebook has identified the formats that drive engagement and sharing and added those features for brands and marketers to use. Wherever consumer behavior shifts in the future, chances are, Facebook will be adding this to their ecosystem.
In closing, Facebook advertising, and its advertising model, is still relevant in 2022. Leaving Facebook out of a paid social media strategy means losing out on its huge technological capabilities, market share and user base. Advertising on Facebook will continue to adapt and adjust – even metamorphosize – as new advert formats emerge, privacy and data regulations loosen or constrict, its user base fluctuates, and social media trends come and go. The brands that have thrived are the ones that share high quality, engaging content and advertisements. With the right expertise and strategy, Facebook ads can continue to move the needle and produce the results companies are looking for.