5 Reasons Why Facebook Is Still A Must for Businesses in 2022
Facebook has had a hard time recently, with Facebook stock dropping and users leaving en masse. We’ve also seen Facebook down for extended periods, and things like Facebook messenger and Facebook marketplace are losing ground to competitors.
However, at the start of 2022, Facebook was still the most used and most popular social media platform worldwide. Facebook has around 2.91 billion users with 1.93 billion users that log in daily.
So, whether you’re concerned about Facebook stock or if the Facebook marketplace is still a viable option for you, consider those numbers compared to competitors. You’ll see that Facebook is still the biggest social media player in the market that you can’t ignore.
If you need some additional convincing, then listed below are 5 reasons why Facebook is still a must for businesses in 2022.
Facebook Is Still The Biggest Social Media Platform
Facebook has 2.91 billion users, with 1.93 billion users active every day and 2.83 billion users active every month, putting them in the number 1 spot for social media platforms.
- Facebook – 2.895 billion users active monthly
- YouTube – 2.291 billion users active monthly
- WhatsApp – 2 billion users active monthly
- Instagram – 1.393 billion users active monthly
- Tiktok – 1 billion users active monthly
- Twitter – 363 million users active monthly
- Reddit – 430 million users active monthly
So if those stats show you anything, it’s that Facebook stock could drop further, you might find Facebook down sometimes, but you’re still seeing huge numbers of people visiting Facebook to socialise, view posts, use Facebook messenger and Facebook marketplace.
There are a lot of high-earning users on Facebook from all age ranges that your business could benefit from converting into paying customers. It will take a long time before any platform reaches the levels that Facebook has reached for a user base.
Facebook Is Still Bringing In Huge Revenue For Businesses
Facebook earned almost $32 billion in 2020, and revenues continue to climb for them. Almost all of their money comes through Facebook Ads that companies are using to sell their products and services. The fact that businesses continue to pour in money and resources to Facebook marketing and see amazing results should indicate to you that it’s worthwhile.
You do see certain demographics move away from Facebook, such as younger generations to Tiktok; however, Facebook still dominates the marketplace for users between 25-54 and is has the biggest influx of people over 54 coming to the platform.
So, with huge profits available, an older generation of high-earners watching ads and engaging through Facebook, it’s still a hugely beneficial area to market your business and bring in sales and leads.
Facebook users spend on average 50 minutes every day browsing the platform, and 26% of Facebook users make purchases after clicking on ads or seeing promotional posts, which is a huge number of users, and no other social media platform can compete with that.
Build Your Brand Awareness
It doesn’t matter what type of business you have; you need to be advertising and building awareness of your business so people buy your products or services and you can thrive. Most people these days are utilising search engines or social media to find businesses that sell what they want.
A place like Facebook and Instagram allows you to showcase your business, your products, and your services without having to build your own search engine results, and you get access to a wealth of information on who is looking at your business on Facebook and who you can target Facebook ads towards.
With the huge user base and the excellent demographics for most businesses, building your brand awareness through Facebook is still the best option, with the best ROI available from any social media platform.
Communication With Customers
Customers want an easy and familiar way to interact with the businesses they use or may want to use in the future.
With Facebook being the Goliath it is, most people are familiar with it and spend a lot of time using it on the hunt for businesses they want to utilise, and they will need to reach out for further information either through your page, will want to see your products through something like Facebook marketplace, and may even want some customer support through a familiar interface like Facebook messenger.
If you don’t have a Facebook account, you cut out your ability to showcase your products, services, and customer support from any customers that only use Facebook or prefer to connect with brands on Facebook due to the security and validation Facebook businesses need to go through.
Targeted Ads and Huge Marketplace
Facebook is the king when it comes to collecting information on its user base; this information can be used through your Facebook ads so that you can target your products and services at specific groups of people that will actually want to buy whatever you’re selling.
Many social media platforms offer ways to advertise products but don’t have the same user base demographic information that Facebook does, so your ROI on Facebook ads will constantly be better than other platforms.
You’ve also got access to directly sell products through Facebook marketplace, which is one of the biggest marketplaces that a huge range of people will use exclusively. So without a Facebook business account, you miss out on access to this range of high-earning prospects.
You also miss out on the detailed and accurate demographic information used by Facebook ads to target the exact demographic that is most likely to buy your products, and with 26% of Facebook users making purchases through Facebook ads, that’s a lot of prospects available to you.
Is Facebook Still A Must For Businesses In 2022?
Facebook is still a must for businesses in 2022, especially if your overall demographic of prospects falls between 25-54 years old and is in the high earning range of incomes.
You shouldn’t pay must attention to the facebook stock drops or reports of Facebook down; the user base is continuing to grow and gives you access to Facebook marketplace for great sales and Facebook messenger as an effective way to communicate with your customer base.