These days, a lot of people have already shunned Facebook, opting to deactivate or delete their accounts. Whether it’s either because of fear that personal data on Facebook is not secure anymore or because of Facebook’s ruined reputation with its ties to Cambridge Analytica that has made it a major purveyor of fake news, it feels like the era of being considered cool if you have a Facebook account is already a thing of the past.
But then, among social advertisers, Facebook is still considered the best platform to put your digital marketing efforts in. It has become essential for marketing strategies to include Facebook, or they would miss a lot of potential customers. Moreover, businesses are willing to pay top dollar in Facebook advertising. After all, customers being acquired through organic means is virtually impossible already, having been taken over by paid and boosted advertising.
Thus, in 2020, despite the Facebook backlash, businesses realize that a solid Facebook plan is still important, perhaps more important than ever before. To help those who are still doing so, here are some trends that are seen to affect Facebook marketing in 2020.
The rising cost of Facebook ads
Truth be told, most businesses can still afford Facebook ads. However, it should be noted that every year, the cost of these ads has steadily risen. Unfortunately, the law of supply and demand has tipped towards the social media giant’s favor, as the number of advertisers has risen in the millions for the past couple of years, despite user account figures appearing flat in the US. As a business, Facebook must capitalize on this rise in advertising businesses, thus the more expensive ads.
However, there may be some strategies to lower FB ad costs:
Understanding how Facebook works is the first step to reduce your Ad spend. Knowing your customer comes close second. So, now that you have a fair understanding of how Facebook charges for advertising, what can you do about it?
The rise of AI, AR, and automation
The past few years have seen Facebook putting a load of investments in artificial intelligence (AI) that aims to o help develop advertising performance on their platform. Also, Facebook has introduced Augmented Reality Ads, allowing users to “experience” things while viewing ads. US users have been known to be very interested in augmented reality, which presents a great opportunity for advertisers.
It looks like Facebook is doubling up its efforts to be an authority in AR with its acquisition of a British company.
Facebook Inc. reportedly has acquired London computer vision startup Scape Technologies Ltd. in an apparent move to build out its augmented reality capabilities.
Facebook gets serious on mobile
According to Facebook, a bulk of its ad revenue is from mobile advertising, so it wouldn’t come as a surprise that the company will put more effort into (and tied to the first point, also try to get a bigger ROI) mobile ads. Mobile ads only contain a URL and headline without a description as desktop ads have.
And it seems the social media giant's efforts are rewarded, with ad revenue increasing to record numbers, thanks to mobile advertising.
Last year, the company said that about 94% of its total ad revenue came from mobile devices, underscoring its near-total dependence on smartphone advertising.
Ads from the News Feed to Stories
Since Facebook started its prominence in social media marketing, its News Feed has always been where its ads get rolled out. However, with the rise of its Stories feature, it seems that the platform will also be putting ads on that, for good reason: 500 million Facebook account holders use Facebook stories. It will not really be a shock if Facebook will encourage more businesses to post ads on Facebook Stories, and advertisers are expected to hot on this trend’s trail.
Ads that are designed specifically to the Stories format are performing better – simply running your news feed ads, or cuts from your TVC assets, in Stories won’t bring you the best results. Visually engaging ads enable brands to tell their story in a more expressive manner, capturing and holding the attention of today’s easily distracted consumer.
For assistance with Facebook marketing, trust All Systems Go Marketing to support you. Get in touch with us about your digital marketing strategy today.
The following post What’s Ahead in Facebook Marketing is republished from All Systems Go Marketing Blog