How to Measure Success – The Current Facebook Situation
Keywords – how to measure success – Facebook growth
With the recent data protection breaches at Facebook, what did the most of us expect?
Given that 3 of these 5 options – which in fact have the most users after fb – are anyways owned by Facebook, most of us were quite wrong to begin with.
But, the recent scandals did not affect fb even slightly. They actually exceeded their financial predictions for the first quarter in 2019. So, what has changed?
Success is Measured Differently Now
Until a few years ago, the measure of social media success was simply the number of active users. But, what is the point of all these users when organisations are unable to utilise them effectively. Facebook has been reinventing itself to accommodate the needs of businesses. It is not just a social platform now, it is an advertising machine.
Facebook provides the reach and depth for marketing that is hard to match. Even at Marketing Voice, we spend more money on fb ads as compared to Google. The direct connection with the target audience is hard to beat here.
And, even if Facebook starts going down, the substitutes will keep the company going. The next big marketing options with the continuous reach are the 3 options owned by fb – Instagram, WhatsApp, and the Messenger. This takes us well into the next point.
How fb played the story card is one of the best marketing ploys in recent times. Brands are spending more and more on story ads, a more recent addition. In fact, leading marketers are suggesting that story ads are the next marketing standard.
Combine this with the rise of Facebook videos and you have got the full mix. At least for now. Research suggests that organisations are open to spending more on video ads on Facebook, given the high number of average views accommodated by brands and influencers alike.
And, that is not it. Facebook is even preparing for the future with its VR and home technologies research. Oculus seems to be succeeding with its goal of making the VR price worthy, meaning that we are not far off from even further marketing options for the organisation.
All in all, social media is maturing now. It is not just about the number of active users anymore. It is about what you are capable of doing with the active users. And, this lesson extends to all businesses.
You need to develop your reach. But, you also need to be clear about what you are going to do with the reach.
And, if you are unclear for now, you need to bring back this question when you have acquired a better understanding of your audience.