If you run a small business, you need to know these Facebook advertising statistics and put them to work for you.
For context, Facebook has a combined 3 billion active users! This includes the Facebook feed, Instagram, Facebook Audience Network, Messenger, Marketplace and coming in 2020… Whatsapp!
Your Customers Are On Facebook!
The truth is Facebook is where your customers are and therefore the ideal place to advertise your product or service. Here are 5 shocking statistics about Facebook advertising:
- The average user spends 35 min/day on Facebook. Add to that another 15 min on Instagram and you have a captive audience for 50 min/day! This is by far the most of any social channel The YouTube audience spends 40 min/day.
- There are 60 Million business Pages on Facebook but only 7 million advertisers. If every business page represents a potential advertiser on the platform, this lets Facebook know they have a lot more potential for growth. They need to show profit like every other company and one way for them do it is right on the native Facebook platform.
- 85% of videos watched on Facebook are without sound. Therefore, videos posted need make use of text overlay or captions to display the dialogue or message. An interesting note is that Facebook considers a “Video View” at only 3 seconds. So even though the typical video is 60 – 120 seconds long, it only takes a few seconds to count as a view. Optimize videos for mobile viewing at the size of 800 x 800 square.
- Organic Reach continues to decline. Only 6% of a Page’s traffic will come from organic posting. However, Facebook heavily rewards any paid advertising so just putting a bit of money behind a post, can reach a large part of your target audience. Start with $2/day.
- Facebook ads are cheap! It started really low, it has increased somewhat but compared to other forms of advertising, it’s still cheap. Consider traditional advertising which costs $32 per 1000 people to run a Newspaper ad. Magazine ads are on average about $20 per 1000 people. TV and Radio sit around $7-$8 per 1000 people. The game changers, however, are social media platforms. Google Adwords is extremely targeted and costs $3 per 1000 people. LinkedIn ads are way down at only $0.75. and Facebook is cheaper still at just $0.25/1000. More competitive industries or categories will cost more to reach but the comparison is eye-opening.
These statistics show that not only is Facebook advertising very widespread but also extremely targeted making it the most efficient and powerful advertising platform we have today.
See a replay of our Facebook Live interview with Matt Scherb on our Facebook Business Page https://www.facebook.com/nunciomarketing.