The changing face of Facebook will be great for businesses
Facebook has been all over the news in recent months for all the wrong reasons. From Cambridge analytica to the latest revelation on what content is allowed on the site and how what goes and what stays is decided (See Channel 4 dispatches latest instalment).
But while this has been a lousy year for Facebook PR, businesses can take this a potential positive. Why? Well, think about this. If your customer’s newsfeeds are being freed from the scourge of ‘Fake News’ stories and far right/left propaganda then there is much more room for business posts and adverts in those newsfeeds. After all, advertising revenue is Facebooks biggest source of income by miles! Facebook pulled in a reported total of $39.9bn in 2017 purely from ad revenue (That’ll buy Zuck a few more plain grey T-shirts).
Facebook had 2.19 billion monthly active users in the first quarter of 2018, that’s a little short of a quarter of the earth population. So, when you hear a marketing company, friends, or your kids say “everyone’s on Facebook” they’re not lying. By the end of 2018, the estimation is that there will be 39.2 million monthly UK users of Facebook that’s 60% of the population.
The beauty of Facebook is businesses big and small profit from using the platform, sure the deeper your pockets the more ads you can buy. But by the same token, if your business only targets a small area then you wouldn’t need to spend a fortune anyway.
Facebook is now in a position where they need to regain the public trust and the trust of the advertisers that pay for Zuckerburgs jeans, so what I believe will happen is that your Facebook feed will now show a lot more posts from friends rather than business pages and the businesses will need to buy ads to reach the audience they want. While this started happening a few months back (Find out more) it will be very worthwhile to spend a portion of an advertising budget on Facebook ads because Facebook is going to want to get the advertisers a result from their ad to keep businesses spending on the platform.
This won’t be the end for Facebook changes, they are arguably the most powerful company on the planet. They have allegedly influenced elections, referendums, and helped to create an environment where people are free to spread their messages good or bad. They have created a beast that has no leash and is continuing to grow, one which if it isn’t put under proper control will be a real danger to the world. But, with the company being put under huge pressures from governments and other groups to try and find solutions to these problems they are going to continue to ensure that their advertisers stay on the platform, spend money and will thus be given a priority when it comes to making sure their adverts are put in front of the people that will respond to them, stay effective and give the advertiser a return on their spend.
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