In the world of social media, Facebook is a juggernaut of user engagement and advertising revenues.
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Approximately one in two Americans regularly participate in social media – and the vast majority of them have set up a personal profile on Facebook.
For business owners and advertisers, that kind of exposure has the potential to translate into marketing gold. Even though Facebook advertising isn't right for every kind of business, the small business community is increasingly using Facebook as a cost-effective method of promoting their products to a targeted customer base.
How big is Facebook advertising? In 2009, Facebook earned as much as $800 million in advertising revenue. When you consider that many Facebook advertisers are spending pennies on the dollar (compared to other advertising outlets), it's not hard to see the amount of traction Facebook has gained with small businesses.
As a current or future Facebook advertiser, here are some other statistics you should know:
There are currently more than 400 million active users on Facebook. Although 70% of Facebook users are located outside of the US, 120 million of your fellow Americans are on Facebook. Considering that the average user has 130 friends, the social networking potential for your company is dramatic.
More than 50% of all Facebook users log on to Facebook every day. Their combined usage totals 500 billion minutes – per month. A typical Facebook user is connected to 60 pages, groups, and events. That same user creates 70 pieces of content each month. By incorporating a Facebook presence into your online advertising initiatives, it's possible to successfully integrate your company into lives of your customers and their networking communities.
Facebook's Global Reach
If your business markets products outside of the US, Facebook advertising and networking can be a valuable tool in directly reaching foreign consumers. The site itself offers more than 70 translations and more than a quarter million Facebook users have assisted with the translation process. That's crowd sourcing at its finest and it has resulted in an online media tool that can be used to reach customers around the globe.