Facebook marketing strategy, along with other social media marketing strategy and new trends, is challenging to keep up with; it can be hard to compare how well your business is going to that of your competitors.
In this blog, we will be talking about 2023 Facebook Marketing Industry Benchmarks so that you can find out the most critical trends in the industry. It will also give you a better idea of your competitors’ actions.
2023 Facebook Marketing Industry Benchmarks
Facebook Marketing Benchmark #1 – Monthly Active Users
Meta released an investor report in September 2022, where 1.98 billion active users (On Facebook, Messenger, Instagram, and WhatsApp), which is an increase of 3% year-over-year. Statistics examine the number of monthly active users (MAU) on different social media platforms in January 2023. Facebook has 2.96 billion monthly active users, YouTube has 2.56 billion active users, and WhatsApp has 390.1 million monthly active users.
Facebook Marketing Benchmark #2 – 70% of people who use the Internet uses at least one Meta platform
There are around 8 billion people on the planet, out of which 5.3 billion people on the earth have access to the Internet, and 3.71 billion of them use at least one meta app every month. This group of apps includes Instagram, Messenger, Facebook, and Whatsapp. People usually use more than one. Even though there is a lot of cross-usage between Meta platforms, it is essential to understand the situation overall.
Facebook Marketing Benchmark #3 – Brand Value of Facebook is 8th most valuable in the world
Meta Platforms has a market value of $373 Billion, according to statistics in January 2023, which makes Meta Platforms the world’s 8th most valuable company according to Meta statistics data. Facebook’s brand value in 2022 was approx $101.2 Billion.
Facebook Marketing Benchmark #4 – Over 72% percent of the Facebook user also use Youtube, WhatsApp, and Instagram
According to the numbers, 72.6% of Facebook users are also active on Youtube, 72.3% of people use WhatsApp, and 77.4% use Instagram. Facebook and other popular social networks have a lot in common. For instance, 50.2% of TikTok users also have a Twitter account, and 33.7% of Pinterest users have a Pinterest profile. If you have an excellent cross-platform campaign strategy, you can ensure that you send the right message on all your platforms.
Facebook Marketing Benchmark #5 – 7% of Gen Z members plan to quit Facebook in 2023
One in four people who use the platform plan to spend less time on it. Because the age ranges for each generation can change, let’s make it clear that in its case, Gen Z means people between the ages of 18 and 25. Even though 7% isn’t even close to a significant number, it does show that user behavior is changing, and marketers should keep an eye on it. It would be best to try to learn how your target audience behaves by researching and testing.
Facebook Marketing Benchmark #6 – 53% more likely to buy from a company that lets them contact the company
Facebook benefits when businesses add live chat through Facebook Messenger to their website to improve customer service and increase sales. Even though this feature is only available on Facebook Messenger, it packs a serious punch, A multi-platform live chat solution like Heyday, which can pull in messages from Facebook, Google Maps, email, WhatsApp, and other platforms, can be used to create a centralized inbox for all client communication. With the help of the right social media marketing agency, you can ensure your clients get proper and transparent communication.
Facebook Marketing, Benchmark #7 – 56.7% of all Facebook users are men.
According to data from January 2023, 56.8% of all Facebook users were men. This distribution is surprising since earlier data from various sources showed that the number of female users was higher than before.
Facebook Marketing Benchmark #8 – Facebook took down 5,057,300 pieces of content in the first half of 2022 because they were said to violate copyrights, trademarks, or be fakes.
Since 2019, the number of reports of intellectual property breaches has steadily increased. However, Facebook keeps improving its detection and enforcement tools to keep this from happening. The best way for your company to find out if its intellectual property is being stolen is to audit its social media accounts and combine that with an excellent social listening program. This is one of the best ways to get benefits of social media marketing that ensures credibility of your company and its services.
Facebook Marketing Benchmark #9 – In 2024, it is expected that Facebook’s advertising revenue will reach $75.11 billion.
If you’ve been paying attention, you won’t be surprised to hear that Facebook’s advertising income dropped in 2022. After all, you just read the two most recent reports. eMarketer predicts that advertising income will soon increase, reaching $71.32 billion in 2023 and then going over $75 billion the following year.
Facebook Marketing Benchmark #10 – Forty percent of all advertisers on Facebook use the “Click-to-message” format.
In response to changes in iOS that make it harder to retarget people who click on a brand’s website, Facebook is putting a lot of effort into making this format more widely used. By keeping customer conversations on the platform, businesses can keep track of who is responding to their ads and talk to those people directly. Using social media marketing services can help you reach the proper audience for your business.
Facebook Marketing Benchmark #11 – The majority of Instagram users are women, which accounts for 49.3% of the platform’s overall membership.
Meta statistics for 2023 show a more even distribution of users by gender, which may seem strange since it is well-known that more women than men use Instagram. As of January 2023, 49.3% of the people who use Facebook are women.
Facebook Marketing Benchmark #12 – Most of the people who use Facebook are between 18 and 34 years old.
The best way to reach millennials with your marketing message is through social media sites like Facebook and Instagram. As of January 2023, 9.3% of Facebook’s users were women between the ages of 18 to 24, while men between the ages of 25 and 34 made up the largest age group on the social media site. In 2021, 30% of Facebook’s users were under 25 years old.
Facebook Marketing Benchmark #13 – People who use Facebook also use Instagram 74.8% of the time.
There are a lot of things that are the same on Facebook and other social media sites. On the other hand, the Meta family of apps covers almost all active social media sites. If you want to reach everyone who uses Youtube, add Ads on Google to your Facebook Ads Manager Ads.
Facebook Marketing Benchmark #14 – About 47% of marketers want to use video more.
Because of how popular apps like TikTok and Snapchat are for sharing videos, more and more videos are being shared on Facebook and Instagram. The poll results show that more than 47% of marketers want to use video more in 2023. Younger people aren’t using Instagram Feed as much anymore. Instead, people primarily use Instagram stories and reels to post and interact. You should jump on that bandwagon as soon as possible, or your competitors will steal your followers.
Facebook Marketing Benchmark #15 – On average, people spend 19.7 hours per month on Facebook.
This puts Facebook in third place, behind YouTube (23.4 hours per month) and TikTok (22.9 hours per month). It’s a big jump from the average of 11.7 hours a month that people spend on Instagram. Even though this Facebook stat only applies to Android users, it tells us a lot about how business is going.
Confused Genius
Confused Genius helps you manage everything related to your Facebook business page, including the content and ads and anything related to your other social media platforms. You can measure your impact with advanced analytics, as well as plan and schedule your blogs, run ads, interact with your followers, and more.
