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With more than 1.9 billion monthly active users worldwide, Facebook provides vast opportunities for any kind of business with any size of budget to reach the widest range of its target audience. No wonder so many marketers consider Facebook Ads a great opportunity to attract more customers directly to their applications.
But of the over 70 million businesses registered on Facebook, only 5 million of them actively use advertising on Facebook to promote their products and services. This mean there’s a lot of room for market growth and development.
The progress of Facebook advertising is aligned to help companies succeed quickly in this emerging market. As Facebook regularly releases new features for advertisers (as in constantly), companies must be able to quickly adapt to new ad trends to stay ahead. For example, the carousel ad format significantly increased user engagement through a more interactive feed and improved ad performance compared to traditional single-image link ads. This allowed advertisers to considerably expand their prospective audiences.
As reported in the first Quarter 2017 Earnings Call, Facebook is currently investing heavily in video, looking to draw user attention away from television and other traditional media. They recently launched mid-roll video ads and now their efforts are focused specifically on virtual reality as a new ad-powered revenue stream. According to Mark Zuckerberg, Facebook has developed new computer vision tools that can apply the style of a painting to a photo or video, which will help make the camera the first augmented reality (AR) platform.
The goal is to give developers the power to build various AR tools into the camera so more people can experience it on their phones. Creating the first open camera platform is a huge step forward, and Facebook intends to keep pushing the AR envelope.Facebook is also exploring the creation of its own original video content with commercial breaks, similar to TV shows. Another potential driver of sales growth on Facebook may come from the development of new features, such as sports broadcasts and music services.
According to the latest eMarketer research, in 2017 Facebook is expected to capture 20 percent of the digital advertising market in the U.S., and Facebook’s share in the display advertising market will grow to 39.1 percent. This trend is likely to continue in the foreseeable future, and we may indeed see a new digital revolution very soon, with Facebook advertising becoming an essential element of any financial structure.
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