Chapter 8: 6 Powerful Facebook Statistics & What They Mean For Your Business
So you’ve already bought into the idea that Facebook and Instagram are powerful marketing tools, otherwise you wouldn’t have made it this far into this blog. But what else can Facebook and Instagram offer your business?
Understand The Efficacy Of Social Media
So you’ve already bought into the idea that Facebook and Instagram are powerful marketing tools, otherwise you wouldn’t have made it this far into this blog.
But what else can Facebook and Instagram offer your business?
What kind of statistics and results are there that can give you a better idea of how you can leverage these platforms and make a return on your investment?
In this section, we’ll be diving into 15 powerful statistics that make these social media platforms indispensable, and what this can mean for your business, whether you are just starting, or have been in your respective industry for a while.
1. More than 78% of American consumers have discovered products to buy on Facebook.
This is a staggering statistic that highlights just how important the internet and social media are for the day-to-day consumer and their influence on their purchasing decisions and habits.
Retail e-commerce sales are set to hit 6.38 Trillion dollars in 2024 up from the 4.2 Trillion US dollars in 2020, which means that businesses will start to prioritize online selling and shipping as their main channel.
2. The average user clicks on 12 Ads per month
You may be wondering just how often Facebook users are clicking on ads. You may be someone who endlessly scrolls through your feed, not engaging with anything in particular. This is where targeted advertising comes into play, ideally showing you a product or service that you didn’t think you needed, but do. While organic social posts can help create brand awareness, paid advertising is more calculated in that it is shown to those who are the most likely to engage and click.
12 clicks per month equates to 3 ads clicked on per week, which is a number that will surely surprise some. Create a compelling ad with a stand-out offer and you could easily be one of those 3 weekly clicks, helping you drive traffic and sales.
3. 84% of Canadians have a Facebook account
Okay so there is a healthy amount of demand for products on Facebook judging by the last two statistics, but you may also want to consider that this comes from a very large pool of users.
84% of Canadians have a Facebook account in 2017, which equates to just over 31 million people you could be reaching with ads run on the platform. If we think back to the newspaper era, it starts to show us just how many people we can reach versus traditional, old-school methods.
4. 75% of online users with an income of more than 75K are on Facebook
If you are selling high-ticket items, products, and services, you know that many can be considered luxuries by those who make an average or less than average salary. You may even think that social media may not be the best avenue to market your products and services on as a result.
With ¾ of online users with incomes above 75K being on Facebook, we can put that assumption to rest. Facebook has sheer volume and numbers when it comes to their user base and yes this does include those who are making some serious coin and can be targeted with more expensive products.
5. 18.3% of US adults made a purchase through Facebook last year
When it comes to digital marketing, there is only one metric that truly matters at the end of the day for business owners. SALES! If you have been hesitant about what kind of ROI you can see using Facebook as your platform of choice, this statistic may make you reconsider. This is almost a 5th of the adults in the US making a purchase through Facebook in 2020.
Considering we are constantly bombarded with physical advertising which mainly hits upon brand awareness for the consumer, creating a digital funnel through the use of Facebook gives customers a tangible place to go (online stores & vendors) to complete their purchase.
6. The average US user spends 58 minutes a day on the app
Americans spend an average of 58 minutes per day on Facebook, driven up in the last little while due to the pandemic. The most used service out of all platforms, this equates to 325 hours per year per user. This is a large reason why advertising on Facebook when you are jumping into digital marketing is the foundation of most social media strategies. Facebook is the core on which you can expand and reach the slightly more specialized audiences of Instagram and TikTok.
Tying It All Together
Throughout these chapters, we’ve been going on about how important Facebook and Instagram are for your marketing efforts and why digital marketing is a potent method in driving sales, leads, and brand awareness.
The numbers behind what makes these platforms and efforts so powerful, highlighted above, help you conceptualize and picture how and why a digital marketing strategy of your own may help elevate your business to the next level.