Is Facebook marketing dead?
Depends on whoever answers the question!
If a multinational company (who have had their fair share of success through social media) answers the question, there’ll be endless praises about how Facebook marketing is the true savior of marketing and whatnot!
On the contrary, if a failed startup owner answers this, they’d throw their hands up in disappointment and look up in the sky searching for answers. Then they’d come up with the answer, that “yes, Facebook marketing is dead!”
Who’s right, then?
Surely both can’t be right when the answer isn’t as complicated as a Schrodinger’s cat.
So, let’s not jump into conclusions without looking at it objectively.
Look at the facts, first.
Facebook is the biggest social media platform right now, with almost 2.5 billion monthly active users. Of those 2.5 billion, nearly 1.75 billion are active mobile users. And when that is the case, it is virtually a marketer’s paradise.
But here’s the catch!
Some marketers have no idea what to do with the return of investment (ROI) in social media. And by some, I mean 44% of marketers. Of the remaining 56% who do have an idea, 36% of marketers can’t quantify the return, while the rest 20% can.
You know what’s worse?
Almost 60% of agencies consider customer engagement and count likes or shares as an ROI metric. Only about 20% of firms consider conversion and revenue growth as key metrics.
And the ones who do consider conversion and revenue as key metrics, believe that Facebook marketing is real, and it’s going to stay!
You see where I’m going with this?
It’s not hard to understand that there’s nothing inherently wrong with Facebook marketing, even if Facebook’s latest algorithm changes have made it increasingly difficult for businesses to persuade customers with their ads. What’s wrong is the way marketers are going about the business!
Having ambiguity about such a crucial marketing mode is never beneficial for anyone. The untimely death (or not!) of Facebook marketing is an extremely subjective issue. What we can view objectively, we are going to. And that is, the majority of marketers need to have a much clearer idea about quantifying the ROI from Facebook marketing.
Once we’re all on the same page about the ROI of Facebook ads, maybe we’ll all agree that marketing on Facebook is alive and kicking!