Facebook turns 10: What marketers need to know about social media
Social media has grown up to be such an integral part of Internet marketing that it may come as a slight surprise that Facebook has only been around for one decade. With the largest active user base of any other platform, it's still important to pay attention to this network to reach new customers.
Facebook has undergone several face lifts in its 10 years of operation. Now a standard measurement of engagement, the "like" button was introduced in 2009, according to an infographic from DPFOC. The network boasts more than 1.1 billion users on the planet has an account on the network.
What does the future of Facebook look like?
As new social networks crop up, many reports have indicated that Facebook will lose a significant portion of its active user base, Marketing Week stated. However, Facebook is increasing its diversity, which could lead to new uses in marketing strategy.
In fact, Facebook has been updating its capabilities for marketers by offering better analytics that allow brands to test which ads work and which fell flat. This may enable companies to better target potential customers. While this platform is useful for sharing brand videos, it does not have the same reach as YouTube. Marketers may need to consider this if they plan to develop more online videos in the next few years.
Twitter vs. Facebook: Which will win in the future of social media?
Recently, Facebook introduced hashtags to compete with Twitter on the searchability of posts. In fact, 58 percent of ads run during the Super Bowl contained hashtags this year, which was a new record, according to Marketing Land. This highlights the growing importance of engagement through these channels.
Currently, Facebook is beating Twitter in many critical areas. It has more active users per month. The DPFOC infographic revealed Facebook users spend almost double the time on the site per day with 22.52 minutes compared to Twitter's 12.51 minutes. Facebook is also more widely used in mobile marketing strategies compared to the micro-blogging site.
In 2004 – Facebook's inaugural year – the network earned $382,000 in ad revenues. In 2013, that figure was $5.2 billion. These statistics make it clear that social media marketing will continue to be an important part of advertising strategies as these networks evolve.