In the ever-evolving landscape of social media, Facebook has been a trailblazer since its inception in 2004.
But I don’t think it is any secret that Facebook has had a bit of a tough stretch recently.
Between lawsuits, privacy scandals, and all sorts of other bad press, they have lost the confidence of a lot of people in their user base across the country. This lack of confidence has also translated over to the world of business.
As we step into 2024, the question arises: Is Facebook still relevant?
“Is Facebook still relevant?”
Now don’t get me wrong, it’s a good question. With channels like Instagram and TikTok dominating the attention of a younger demographic, it’s tempting to completely throw Facebook aside and focus your attention elsewhere.
In my opinion, that would be a HUGE mistake.
Reason #1: Facebook users aren’t THAT old… and they have the cash!
Much has been made of the statistics around the aging user base of the Facebook platform. As we sit here today, the largest group of Facebook users is between the ages of 25 and 34 with the 35-44 age bracket not far behind. While yes, these numbers do show that the average Facebook user is much older than the other popular platforms, this is actually an ADVANTAGE for businesses.
With a mature audience comes a mature life stage, and with a mature life stage comes something very important for your business. Disposable income.
Cash. Money. Moola. Dough.
That’s right, Facebook users can actually afford your services, they make buying decisions, and most know how to use the platform pretty darn well. All this adds up to an audience that is profitable and technologically advanced enough to purchase right through the app.
Reason #2: Despite all that bad press, the user base is actually GROWING
While Facebook has almost completely reached growth saturation in the United States, it is still keeping pace and growing at a decent rate throughout the world.
In fact, as of the end of 2023, the number of Facebook users worldwide is around 3.05 billion. That is an increase from 2022 where the yearly total users was 2.96 billion and they’re predicted to get above 3.07 billion during Q1 2024, showing that the platform is still going strong!
Reason #3: Facebook advertising is still a great tool to reach a LOT of people.
Now with all that being said, Facebook does have a little bit of a news feed issue at the moment. Between all your friends and family, companies, events, the marketplace, and all the other features, there is very limited space for your business page to show up organically. Luckily, Facebook has one of the best advertising platforms that make it easy to reach your audience.
Now this “pay to play” thing is a big negative for some, and I get that, but it really doesn’t take much to get your content seen by a lot more people than just those who like your page.
So if you are looking for the short answer here, it’s yes. Facebook is still an extremely relevant platform and we recommend that you keep Facebook as a big part of your strategy. While you are going to be tempted to ignore it completely, it can still pay out massive dividends for your business to be active and create the content of Facebook.