In 2020, I think it's clear that "everyone" is on Facebook. But, even so... the question remains: who is actively using Facebook and what are they doing while they scroll? These insights can help us better target our ads, and develop more relevant organic content.
As we spend precious advertising dollars on Facebook, it couldn't be more valuable to review current metrics and statistics.
Who is on Facebook, anyway?
I can still hear a former client sitting in his board room saying: "Well, I'm not on Facebook... and neither are my friends. Can you really reach our clientele using Facebook?"
So, let's review. An amazing 2.6 billion monthly active users scroll the walls of Facebook, and 1.73 billion visit every single day. Every. Single. Day. That means you can reach an astonishing 33.3% of the global population on Facebook.
You shouldn't -- you should target. A lot. But, the point remains that it's an extremely important space to maintain a presence.
Interestingly, only 10% of Facebook's users are from the United States and Canada. While that number may seem small, it's the same set of people that are bringing 48% of the ad revenue across the platform. This leaves it an incredibly viable advertising space for the average American company.
The Boomer and Silent generations, specifically people 65+, are the fastest growing demographic on Facebook. And, 74% of users are high-income earners. Senior-serving industries (like funeral homes, home care, senior living, etc.) will find that Facebook is an increasingly important place to advertise and reach their audience.
It's also clear that users really on Facebook for communication -- every day 100 billion messages are sent and 1 billion stories are shared.
These monthly users are spending a significant amount of time on Facebook -- almost an hour a day (whoa!). And users age 35 years or younger continue to be 65% of the total demographic. However, there is a clear decline in Generations Z, ages 13-17.
So, how should we advertise to these demographics?
With videos! Square videos receive 35% more engagement than horizontal videos. And remember that these video ads (or video content, for that matter) are being viewed silently at a rate of 85%. Be sure to use the caption builder in Facebook's Creator Studio when publishing a video.
Given that 78% of users report having found something to buy via Facebook, the platform is a growing source for retailers to bring e-commerce sales.
And, don't forget! A whopping 94% of ad revenue is from mobile. As you build ads, be sure to preview your ads on your mobile device, and pay special attention to how your creative and ad copy appears on a phone.
Finally, what is our benchmark for cost-per-click (CPC)? The current benchmark is $1.72. At Story, our ads typically range between $1.70 and $0.30 per click. But, remember, it's all about our goals. If your goal is impressions and awareness, you cost-per-click could go relatively high ($2 or $3 is not out of the question). If you want clicks and landing page views, the cost should be relatively low. Build you ad for you goal, and Facebook's algorithms will spend accordingly.Photo by Glen Carrie on Unsplash