Sure, there are plenty of social media networks to choose from.
But even when shiny, new networks pop up, there’s one platform that has continued to reign over the social media space.
Don’t believe us?
The Stats speak . . .
There are over 1.71 billion active monthly Facebook users. Compare this to other platforms like Twitter at 310 million and Snapchat at 150 million.
The average person spends 40 minutes a day on Facebook, compared to only 17 minutes for both Twitter and Snapchat.
24% of non-Facebook users use someone else’s Facebook account. At the end of the day, Facebook is like a huge, socially-driven online directory, so people that won’t commit to a Facebook account can still find value in the network.
49% of people ‘Like’ a Facebook page to support a company and 42% ‘Like’ a page for coupons and discounts.
Let’s put this into perspective:
If your business wants to reach the largest audience – an audience that spends the majority of their social media surfing on this platform – you need to be on Facebook.
However, there’s one very important thing to take note of:
The Facebook Algorithm
In 2011, Facebook introduced a system that recorded and analyzed your activity and intelligently distributed posts a user would engage with the most.
The original algorithm, called Edgerank, consisted of these three components:
- Affinity: How closely connected the user is to certain content or a particular page
- Weight: How important actions performed from a page are
- Time Decay: How new the content is
On top of these components, the present day algorithm is now composed of up to 100,000 additional elements.
And on top of that, Facebook also chooses to prioritize users’ newsfeed based on a set of core values. Due to these values, users mostly see content related to:
- Family and Friends
- Informative Stories (Latest world news, Latest news with family and friends)
- Entertaining Media (Videos, Memes)
- Authentic Communication (Non-salesy content)
So what exactly does this all mean for businesses?