Facebook has become part of our routine. We often don’t realise how much we use it anymore. We pick up our phones, or open up our laptops, and go straight to Facebook to see what’s going on. In fact, Facebook has entered our lives so effortlessly, that at this point it’s hard to imagine a life before Facebook.
Whether it’s politics or our private lives, Facebook has made information sharing easier than it ever was before. Or…there is so much more that we depend on Facebook for.
With over 2 billion monthly users it is undeniable that Facebook connects more people than any company ever has in the past.
And, businesses know this too.
The rise and popularity of social media, and in particular that of Facebook has made brands rethink their marketing strategies and how they deal with customers.
So it is unsurprising to see how millions of businesses around the world rely on Facebook to connect with their customers. That’s why it’s crucial that businesses stay ahead of Facebook trends in order to make the most out of their marketing efforts. And that’s why Facebook statistics heading into 2021 can be a game-changer for your business.
Here’s a list of Facebook statistics that you need to know about in 2020:
How Many People Use Facebook?
Facebook is the undisputed king of social media with 2.6 billion monthly active users (Facebook, 2020). There are also 1.73 billion users that are visiting the social network site on a daily basis.
To put that in to perspective, China has a population of 1.44 billion, India has a population of 1.38 billion and the USA has a population of 331 million.
Facebook first hit the 1 billion monthly active user mark in October 2012, and crossed the 2 billion active user mark almost 5 years later, in June 2017, it is safe to assume that it won’t be long before they cross the 3 billion user mark.
The fact that Facebook has reached such a massive audience that it’s become impossible for marketers to ignore. And since a large portion of Facebook users visit the site on a daily basis, it makes them a great potential audience for your digital marketing efforts. Facebook’s mantra has always been about bringing the world closer together, and since its launch, it has not only achieved that, but it has exploded in popularity.
Facebook – The King of Social Media
When it comes to dominating the social media landscape, Facebook comes out on top. As the leading social media platfrom it reaches over 60% of internet users (Facebook, 2018).
Since its creation, Facebook has ruled the world of social media, and it seems like there’s no stopping the giant. There are many strong competitors like Instagram, Snapchat, Twitter and a number of others that are trying to compete, but Facebook still stands strong among the competition.
The success of Facebook has a lot to do with its willingness to adapt to new changes, but to also admit when it needs to spend money to stay ahead of the curve.
For example, one of the reasons why Facebook has been able to maintain its staggering growth is due to its ability to meet its users needs. When social media began to shift to an image first audience, Facebook snapped up smaller rival Instagram. This allowed them to reach more people with more features and in turn attract more advertisers.
Facebook Advertising Revenue
With Facebook’s massive reach and popularity among marketers, it’s no wonder that the bulk of Facebook’s revenue comes from advertisements.
In the first quarter of 2020, the company brought in $17.44 billion in ad revenue (Facebook, 2020). That puts its average revenue per user at $6.95. Not only does this make up nearly all (98.3 percent) of its $17.737 billion revenue for the entire quarter, it’s also a 17 percent year-over-year increase from the first quarter of 2019.
You might be thinking that because of the boost to online retailing during COVID-19 that Facebook would have more ad revenue. However it appears that even Facebook “struggled” with a “significant” fall in the demand for advertising towards the end of the quarter in March 2020. This is evident in the higher seasonal fall in ad revenue from the final quarter of the previous year to the first quarter of the following year.
For instance, 2020’s first-quarter ad revenues fell 15.9 percent from the $20.736 billion in 2019’s fourth quarter. By comparison, 2019’s first-quarter ad revenues fell just 10.4 percent from the previous quarter.
Whether the same will be true moving into 2021 is yet to be seen.
Businesses Use Facebook Pages
Facebook has more than 80 million small businesses around the world using Facebook Pages (Facebook, 2018). Your Facebook Page is a place where you can share all that your business offers. It gives you the possibility to increase the online presence of your business.
The reason why so many people are using Facebook Pages for their business, is because of the benefits linked to having one. Through Facebook, businesses can reach one of the world’s largest online communities quickly.
By creating a Facebook Page for your business, you can build an audience and connect with people who are interested in what your business has to offer. Your Facebook Business Page also helps to make it easy for people to find out more about your business, or to get in touch with you. It provides a platform where people can connect with your products or services, and strengthen customer relationships. Customers have the possibility to post questions and reviews to your Facebook Page, and your team can respond, which saves time and streamlines communication. A Facebook Business Page is a free opportunity for your business to increase brand awareness and promote positive word-of-mouth.
Facebook Users Choose Mobile Over Desktop
One of the reasons that Facebook has grown to dominate is mobile accessibility. Unrestricted access through apps for all mobile devices has given it the edge over competitors. 96 percent of active Facebook users accessed the social media platform via mobile devices, which includes tablets or smartphones (DataReportal, 2019). That means that only 4 percent of Facebook active users logged in on desktop devices to use the social media platform.
Due to Facebook’s reach on mobile devices, it comes as no surprise that it ranks as one of the annually most-downloaded apps worldwide. For instance, in the Google Play Store, Facebook Messenger, Messenger Lite, and Facebook are frequently ranked among the top most downloaded apps every month. This Facebook statistic also helps to emphasize how important it is to optimize your content for mobile devices. With user comfort becoming the primary goal, mobile accessibility is something that marketers can’t afford to ignore.
Products Discovery via Facebook
There is a reason why so many brands use Facebook to interact with their customers. 78% of consumers have discovered retail products to buy via Facebook (Kleiner Perkins, 2018)
Facebook is becoming as increasingly important to product discoovery as Google, Amazon and retailers own websites. Users aren’t just spend time on the platform to get in touch with others, or to share more about their lives, but also to browse, research, and find inspiration.
This information can also be of value to marketers, in order to help them improve the customer journey. Understanding what the customer is looking for can lead to marketers making it easier for people to discover products on mobile and as a result businesses driving more sales.
Conclusion
It’s safe to say that in this day and age your audience is using Facebook, and your competitors are too. In order to stay on top of trends, you need to make sure that your Facebook strategy is up-to-date. Especially with the use of Facebook evolving over the years, it’s important for businesses to step up their game.
If done right, Facebook can be a game-changer for you and your business.
