Facebook Isn’t DeadOct 31, 2022
Third quarter stats are in! The Digital 2022 October Global Statshot Report, compiled by HooteSuite and We Are Social, is sobering, to say the least.
As your resident social media expert, I’m happy to comb through the data and deliver the insights you need to know to shape your social media strategy for the remainder of 2022 and beyond.
1. Internet usage has peaked. Now, the game on social media is a competition for attention.
We believe that the world has effectively reached a “saturation point” for time spent using the internet,” says Tom Morris, Trends Manager at GW, a market research firm.
95% of working-age internet users say that they use messaging apps and social networks each month.
GWI’s research and analysis indicate that people are trying to become more “purposeful” in their use of the internet, especially after the rapid rise in time spent using social media during COVID-19 lockdowns.
2. Facebook isn’t dead.
Facebook is still by far the world’s most used social media platform, and the available data suggest that it still has hundreds of millions more active users than its next nearest rival.
People are still two-and-a-half times more likely to choose Facebook as their favourite social platform as they are to choose TikTok.
Facebook is still responsible for more than 70% of all web traffic referrals that originate from social media.
3. TikTok’s growth is impressive but still caters to teenagers.
TikTok’s ad reach has grown by 14.6% over the past year, and the platform’s ads now reach more than 1 in 6 adults on Earth every month.
Numbers reported in each company’s ad planning tools indicate that marketers can still reach twice as many adults aged 18 and above with ads on Facebook as they can with ads on TikTok.
Use it for Your Business
Though new trends and features pop up on social media each day, the core tenets of who you reach and how do not.
Don’t try to be on all the platforms all the time. Chances are you’re serving the same people in multiple places.
Get active on Facebook and Instagram if you can only pick two platforms. You can’t beat Facebook for link click-through rates and Instagram is the best at brand awareness (getting people to know, like, and trust you).
A combination of FOMO and sensational headlines try to convince us that hopping on the hot new thing will grant us instant success, but is that worth risking your most valuable commodity – your time?
Shiny object syndrome will try to distract you but you will make the most impact if you build deeper on a few platforms.
Just because it's new doesn't mean it's worth your time: Is learning the latest social data worth your time?
Yes!: I give it 5 out of 5 thumbs up.
Hopefully, this knowledge has saved you a ton of time and energy chasing shiny new things and strengthened your resolve to serve those who are already following you (even if you find Facebook incredibly boring).
Social media is constantly changing. Sign up for This Week in Social Media Marketing to stay informed of the trends and decide whether it’s worth your time to try them.