There is nothing that you cannot sell on Facebook, unless you are a big fan of profanities and have managed to provoke somebody to report you! Facebook over the span of 15 years has served as an excellent platform for marketing and reaching out to a broader audience that also involves your friends and family. Apart from the outstanding updates received every year we have observed how it has claimed its territory and acquired every other business that tried getting between their way.
However, last year the network seemed to be at its most vulnerable when the founder Mark Zuckerberg appeared before Congress to address the concern related to user privacy. This happened after Cambridge Analytica acquired indecorous access to personal data of about 87 million users. After `Conjuring` this managed to scare people the most. Soon after two months, this was followed by another heavy blow where Facebook`s value took a sharp, deep plunge by 119 billion dollars. Well, the apology ads surely couldn`t stop the investors from fleeing the stock. Also, it created a history of its own by accounting as the most substantial one-day loss ever suffered by any company. Facebook inevitably never fails to surprise us!
But how does their one bad day affect your brand and your chances of advertising, right? Isn`t that what you are thinking? Let`s break it down to you. The younger users are losing their interest in Facebook; they do not find it relevant anymore. This was first pointed out by Adweek in February 2018; however, it assured the readers that the advertisers were still there.
By March 2018 Pep Boys to Mozilla had stopped advertising which put it out clearly in the air that the advertisers were fleeing. And, by July the advertisers had found other reliable mediums for running ads such as Instagram and Youtube where the ad spend showed impressive growth.
So, if you are running a small business should you also plug out of Facebook with it`s diminishing user base and follow everybody else`s footsteps? To answer this, you have to understand your audience. Presently you might be having a huge follower base on Facebook for promotion building which needed your time and investment. To ditch it all at one go doesn`t come across as a feasible solution. Even if it comes across as one of the many options you consider for promotion, you have to understand that your customers are still there. The other thing to consider is your target audience; if they are not the younger generation taking the flight to land across different social media platforms, you don`t have that big of a problem.
Devote your time, energy and resource to Facebook but don`t be a fool to use it blindly. Check out how your ads are doing on other platforms and which ones are delivering you the most promising results. While news of Facebook`s demise may have been massively exaggerated but it asks you to be on your toes and extra vigilant about your customers.