One of the biggest digital trends of 2022 is undoubtedly the death of the third-party cookie, and the knock-on effect on overall digital marketing strategies for businesses across all industries. Third parties, such as Facebook Ads, will no longer receive conversion data through third-party cookies, which suggests there will be a considerable decline in ad targeting and success. Despite this decline in effectiveness, costs are still set to rise.
If Facebook Advertising is a key component of your marketing strategy this year, here are some key stats you should be aware of.
Facebook is still the world’s most used social platform, which means having a presence here is essential to most businesses looking to increase brand awareness and build a community of loyal customers.
There is also Facebook Marketplace, which has the potential to target 562 million people (26% of Facebook’s total advertising reach). This is a particularly affluent paid ad channel for B2C businesses looking to reach a large audience.
Facebook’s monthly active users is rapidly approaching 3 billion, which, given that there are 7.7 billion people globally, is a staggering statistic. The largest group for targeting is men aged 18 – 34, with women in the same age group, slightly behind. This is important to consider when deciding if this is the right market and demographic for targeting for your business.
However, if this is the correct demographic for your targeting, Facebook is proving to continue to be one of the most effective channels for ad targeting, as ads reach an average of 72% of Facebook’s monthly average users. It’s a therefore a great place to run your ads to get seen by a large portion of targeted users.
Meta, the parent company of Facebook, Messenger, Instagram, and WhatsApp, saw in an increase of 10% in ad impressions in 2021. This figure is likely to continue to increase, especially if Meta introduces advertising onto WhatsApp, their only unmonetized platform.
The cost of running ads on Meta increased by 24% year-on-year, indicating that marketing professionals need to plan and budget strategically for optimised ad spending for maximum ROI.
This increased cost isn’t deterring marketers from leveraging the platform though, with projected spend on Facebook ads predicted to exceed $50 billion in 2022. If this continues, Facebook looks to net over $65 billion in ad revenue by 2023.
Despite initial concerns over the removal of third-party cookies wreaking havoc on the paid marketing industry, marketers still seem to be holding onto Facebook Advertising as a key component of their 2022 digital marketing strategy.
If you’re looking for top digital marketing talent to drive your paid ads on Facebook, and other channels, get in touch directly, for support finding top candidates who are ready for their next challenge.
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