Image: Unsplash
Ah, our good friend Facebook. Can you believe that it has been 19 years since the game-changing platform was founded in 2004?
Yes, it seems like a whole lifetime ago that we swore never to leave the blinged-out profiles we’ve spent hours decorating on Friendster and MySpace, only to hop on to a platform that forever revolutionised social media.
Fast forward to today, Facebook has seen many changes. From the roll-out of “Timeline” (now known to us as “News Feed”) in 2011 to pushing the user-generated content game to a whole new league with 3D photos that was introduced in 2018, the top dog of social media is here to stay.
Say what you will, like how you may be spending more time on TikTok or Instagram, but we all know that Facebook is one of the must-haves for any business or brand.
From creating a reputable profile for users to discover or know more about your business, to becoming a place where customers can leave reviews (and encourage others to try your product or service), Facebook isn’t really something that you should opt out of.
So, if you’re looking to continue leveraging Facebook for your brand (or even start doing so), then these are the top Facebook stats you need to know in 2023.
The amount of Facebook users in 2023 is now in the billions. Image: Datareportal
By the end of May 2023, Facebook had 2.963 billion users who are active on a monthly basis. This puts Facebook at the top of the list of the world's most "active" social media platforms.
We’re now at 8 billion people across the globe. Taking that into consideration and with a quick math, it’s astounding that close to almost 40% of us on the planet are active users of Facebook!
Over 56.3% of users on Facebook are men, compared to 43.7% who are women as reported at the end of January 2023. If you are selling a product or service that serves a specific gender group, it would be ideal to skew your channel's optimisation to ensure that you’re connecting with the right target audience.
There are more men than women online on Facebook. Image: Students In Warsaw
A recent study saw the latest data as of January 2023 that India has the highest number of Facebook users, at an astounding 329.65 million.
A screenshot from a study that shows the average daily time spent on social media by US adults from 2017 to 2022. Image: Statista
A study conducted from 2021 until the end of 2022 saw that American users spent an average of 33 minutes per day on Facebook, which makes it the social media platform with the highest daily usage time.
Here’s an important tip for your marketing approach: it’s good to know the age group that spends the most time on Facebook so you can easily determine if your product or services are relevant, and shape a tailored content strategy to fit the audience better.
The average conversion rates on Facebook. Image: Sprout Social
When it comes to ads on Facebook, the platform has a relatively high conversion rate, with an average of around 9.21%. However, the conversion rate can vary depending on the specific industry. The fitness, education, and healthcare sectors, for example, tend to experience a much higher conversion rate on Facebook.
According to internal Facebook data, the “Stories” feature is hugely popular with half a billion users using it on a daily basis. This is a key point for you to consider when advertising on Facebook in terms of product placement and content design.
With much scrutiny on the platform and restrictions on data privacy, advertising on Facebook comes with new constraints in targeting. That, coupled with the growing share of voice of other social media platforms that appeal to the younger generation, has seen a decline in Facebook’s advertising reach year on year.
Image:Data Reportal
A decline in reach may lead to increased competition for the limited number of ad placements available on the platform. This can drive up the cost of advertising on Facebook and make it harder for smaller businesses with limited budgets to compete.
How do you work your way around this, you ask? Rather than trying to reach as many people as possible, you can focus on creating high-quality, engaging ads (with us at Brandripe, of course!) that resonate with your target audience. This can help them stand out in a crowded advertising space and achieve better engagement rates.
With the increase in the popularity of e-commerce and online shopping, and as a response to this trend, the platform has been experimenting with new e-commerce features. For instance, users can now shop directly from a brand's Facebook page. It is likely that the platform will further develop these features in the upcoming year – and this is definitely something that you and your business should take advantage of.
That being said, planning your strategy is just the tip of the iceberg.
Bringing the tactics to life requires many moving parts, with content at the heart of any successful marketing execution. Creating content and designing visuals can be a time-consuming and inefficient process for one person to manage.
However, we have a solution that can help. Consider hiring an on-demand design agency like Brandripe to take care of your visual needs!
This merely scratches the surface of the benefits of working with us! Image: Brandripe
Working with our experienced creators can save you time, effort, and even money – all the while ensuring that your visual content on Facebook remains engaging as a standalone organic post or even as an ad.
We offer Brandripe at a fixed price that suits your budget, without the hassle of complex contracts. Some of the biggest advantages of working with Brandripe are our fast turnaround of a guaranteed 24 to 48 hours and unlimited requests and revisions, allowing you to move flexibly with your strategic execution – which is something you’ll definitely need for a giant platform like Facebook.
Keen to find out more? Get in touch with the Brandripe team to discuss your requirements in more detail, by booking a 15-minute VIP Demo Call with our team and find out more about how we can elevate your Facebook marketing game to the next level!
