These days nearly everyone has a Facebook account. And if Facebook’s Q3 2017 financial results are any indication, it’s looking like Mark Zuckerberg’s multi-billion dollar corporation is here to stay for a very long time. In fact, Facebook ended the third quarter of 2017 with 2.072 billion monthly users (up 3.3% from the previous year) and 1.368 billion daily users (up 15.9%).
What these numbers tell us is that Facebook still remains as the most robust social media platform for building a brand or a business. To bring home the point, a March 2016 survey conducted by Social Fresh, Firebrand Group and Simply Measured showed that 95.8% of social media marketers worldwide named Facebook to be the most effective in driving ROI.
Facebook shows no signs of slowing down as profits are expected to rise nearly 25% annually over the next 4 years. As a business owner, you’d do well to do everything necessary to have a piece of that big pie.
Every business needs to establish a social media presence in order to be taken seriously. Most entrepreneurs realize this, which is why there are more than 40 million small businesses who have active Facebook pages.
On top of increasing visibility, Facebook offers businesses an excellent platform for engaging and building relationships with potential customers, creating more opportunities for conversions.
As is the case with all marketing campaigns, using Facebook as a marketing tool will hardly pay dividends if there’s no sound strategy in place. And what’s the first big step in coming up with a marketing strategy that works? By knowing the lay of the land, of course. In short, you have to gather and analyze relevant data and key figures to come up with a strategy that will yield the best results for your business.
In this article, we’re going to recommend the best marketing strategies based on stats and milestones revealed by Facebook in its latest financial results.
Marketing to millennials is still the best way to go forward
As expected, millennials (ages 18-29) comprise the majority of Facebook users (87% as per latest tally), so it’s in your best interests to tailor your social media marketing strategy with them in mind. As such, millennials are more likely to respect and respond to your brand if you adopt an authentic voice. Millennials also have a deep aversion to hardline selling, so make sure that you engage them in the most organic manner possible. The best way to do this, of course, is to produce relevant, valuable, and consistent content.
Another effective way to engage millennials is to make your brand stand for something. According to a 2017 study by The Environics Institute, one in four millennials are highly likely to get involved in a cause or issue. Cosmetics giant Avon, for instance, launched a campaign to raise awareness for breast cancer in 1993. The goal here is to choose a cause that aligns with your brand’s ideals. And while standing up for a cause can boost your ROI, it’s important that you be sincere about it.
Don’t sleep on the older demographic
While millennials are still the dominant demographic in terms of Facebook users, it’s worth noting that the involvement of seniors on the social media platform continues to grow each year. According to the latest reports, 56% of online seniors aged 65+ and 63% of those aged 50-64 are on Facebook. If your business caters or appeals to the elderly (such as retirement plans and health care), you’ll do well to integrate Facebook marketing into your social marketing campaign.
Create a conversation around your product
Did you know that 74% of college graduates are on Facebook? These are intelligent, passionate people who love to discuss politics, social issues, art, music and anything that fires up their creativity and sense of social justice. There’s nothing harmful about the occasional “viral” post (we all love dumb memes from time to time) but you are likely to inspire engagement and loyalty from your target audience if you publish meaningful posts and blog articles on a regular basis.
Focus on quality and reputation rather than price
Facebook has a huge amount of users who are relatively affluent. According to the latest social media financial results, 72% of online users with an income of more than $75k have a Facebook account.
Going by this figure, the preferred marketing strategy is to highlight and focus on quality rather than price. Since the well-to-do demographic care about reputation more than anything else, it’s in your best interests to be discerning, honest, and virtuous in every content you publish through the social media site.
As of June 6, 2017, the total number of mobile daily active users has tallied to 1.57 billion -- a significant uptick from 1.15 billion daily active users registered in the fourth quarter of 2016.
By that figure alone, it makes sense that you take the necessary steps to make your business website as mobile-friendly as possible.
Create global content (on top of the local ones)
To say that Facebook has taken the world by storm is an understatement. There’s no denying that the social media site operates on a global stage. In fact, more than 83% of daily active users are living outside the U.S. and Canada -- a marked improvement from 75% from the previous year.
As a marketer, you’d be remiss not to take advantage of this demographic window of opportunity.
A great way to find content opportunities for other regions is to go to your Facebook page’s Audience Insights page, where you can get a bird’s eye view of your brand’s impact on an international scale.
To the surprise of no one, Facebook continues to be on a roll. While we stand by our recommendations, it bears noting that things are always changing. If you want to build revenue through your social media marketing efforts, it’s imperative that you pay close attention to the latest trends in the social media space.
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