Facebook will be celebrating its 20th anniversary in 2024. That makes it ancient in a world where companies rise and fall like so many digital blips. Moreover, some data breaches Facebook was involved in may make you think this platform isn’t worthwhile.
Are you concerned that it’s losing its edge and marketing potential due to all of this? This article will hopefully dispel such notions.
A Sprawling Marketplace?
There’s a misconception that Facebook is somehow becoming irrelevant as a social media platform where your advertising dollars won’t go to waste. The argument is that it’s mostly full of older people, while Gen Z and millennials prefer more fast-paced alternatives like TikTok.
While there’s some truth to Facebook’s shifting demographics – it is among the oldest social media sites, after all – the sheer volume of users is enough to make up for other deficiencies. The newest data points to more than three billion active accounts in 2023. That’s a slight increase over last year, not to mention more than a third of humanity.
Some people limit their Facebook use to catching up with friends and scrolling through content that interests them. Others take advantage of the Facebook Marketplace and are happy to visit digital storefronts of brands that catch their eye.
Going forward, the trick is to define and narrow down your audience. A crafts company will have an easier time than a comic book store. However, Facebook’s user pool is so large that you can market to communities far more niche than these with the right approach.
Appeasing the Algorithm
Meta likes to mix things up every year and fiddle with their algorithm, to the chagrin of marketers everywhere. For example, organic posts used to be all the rage but are much less relevant now. It makes sense from a business standpoint – why pass up the opportunity to charge for a more favorable placement?
Even so, the marketer who prepares for upcoming changes can seize new opportunities. The algorithm has set its sights on groups and events next. People spend much time on Facebook engaged in various groups, so creating marketing content that fits the vibe will yield more impressions.
You’ll also want to build a group around your brand or product for even more conversion opportunities. Users will be more inclined to check your products out or schedule an appointment if an active group of satisfied customers is backing up your claims.
The Rise of Video
TikTok might have elevated the short-form vertical video to its ubiquitous status, but Facebook isn’t far behind. Its Reels and Stories capture new audiences and will continue to grow in popularity throughout 2024.
Video lets marketers explore new avenues of organic business growth. For example, they can create useful how-to guides or share bite-sized facts about their products. Better yet, video testimonials satisfied customers share are the ultimate social proof.
The Continued Importance of Cybersecurity
A pursuit of customers shouldn’t blind you to threats that could jeopardize your Facebook presence. Meta has taken action to make malvertising more difficult. Chances that someone will use your ads to send people to unsafe websites or to download malware are slimmer than before, but not zero.
Account takeovers are a threat marketers need to remain wary of. How do they happen? Usually, it’s due to passwords being compromised either through a data breach or by nature of being weak and easy to crack. A password manager should be a marketer’s go-to cybersecurity tool for that reason alone.
You likely need to secure numerous other accounts too, spanning across various platforms like CRM tools and services such as Canva and cloud storage. Managers oversee all these logins, expediting the process of updating passwords to strong, unique combinations that enhance security. Reliable password managers are available for popular internet browsers like Chrome, Opera and Firefox. However, there are also options available for less common browsers.
The Privacy-Conscious Facebook User
Privacy issues will continue to concern users through 2024 and beyond. A growing mass of people is rejecting the notion of being data aggregates ready for exploitation. Lawmakers are also wising up, making it tricky for Facebook to collect swathes of sensitive info concerning race, gender identity, and health.
Facebook marketing is shifting away from third-party data and tracking to an approach based on consent and first-party sources. Aided by new AI implementations, this shift will help marketers tailor their campaigns to real individuals and receive more enthusiastic responses from people who are actually interested.
Advertising on Facebook is far from futile and will continue to expose billions to goods and services throughout 2024 and likely far beyond. Flexibility, understanding of trends, and a willingness to try new features will ensure the continued success of your marketing efforts.