A lot has been said and written about Facebook revenue and usage in the past few years. This hot topic will stay hot for years to come because the popularity of this giant is only increasing.
The growing importance of Facebook and its popularity drives marketers crazy. Businesses would like to use Facebook to reach out to their true audiences.
Choosing the right target audience is not possible unless you dig down on demographics. Different elements of demographics such as age ranges and gender are important to look at.
What are 2020 stats about Facebook usage and revenue? How to demographics to find the right audiences? This article will answer these two questions. Continue reading if you want to learn more.
2020 Facebook Usage & Revenue Stats
Facebook is the most popular social media platform among other notable social networking websites. Started in 2004, it went on to become one of the biggest internet-based business success stories ever. Along with its subsidiaries Instagram and WhatsApp, Facebook is set to become the most profitable and largest digital media company in the coming years. Here are the current stats about its usage and profits.
Facebook Usage Statistics
There were more than 2.45 billion monthly users as of quarter 3 of 2019. The number has grown since then because people have been using it more often during lockdowns. Most Facebook users use it to stay in touch with their friends on Facebook and check updates of pages or groups they follow or joined respectively. Most Facebook users in the United States are young adults. Other age brackets are also active and there is a huge percentage of adults that use it regularly.
Facebook Revenue Statistics
There is more than 50 million business on Facebook as per the latest statistics of Facebooks. The success story of Facebook Ads is no surprise if we see its more than 7 million advertisers. Some of Facebook advertisers spend millions of dollars on Facebook Ads of different sorts. Some of the main objectives of these advertisers are to increase their brand recognition and brand awareness. As long as Facebook provides value to its advertisers, its advertising business will keep growing. If you are a business, you should use Facebook ads to grow your business.
Target Audience and Demographics Age Ranges
Demography is a branch of sociology that studies classifications of human populations. It is essentially a statistical study and analysis of populations. This subject provides valuable insights into human interests. How did this concept work for businesses that want to advertise on Facebook? Let’s discuss demographics and target audience in detail.
What are Demographics?
The population of an area can be divided into different structures that are known as demographics. Dividing a population into different groups helps in describing their interests.
Elements of Demographics
Age, race, belief, education, nationality, and gender are the key elements of demographics. Over the years, social status and household income have emerged as important concepts for marketers. All elements mentioned above are important. If a company wants to target women only, it should select women only when selecting the target audience in Facebook Ads Manager.
Demographics are Important in Marketing
The more you know about your audience, the better. If you have a detailed account of the interests of your audience, you can run effective promotion campaigns. If you do not know much about the likes and dislikes of your audience, you may not be able to run effective promotion campaigns. For example, if a company wants to target a specific age bracket, it should select that specific age bracket when selecting the target audience in Facebook Ads Manager.
Last Word About Facebook Revenue and Usage Stats
You have read some important numbers about Facebook usage and revenue in 2020. We can conclude that understanding the demographics of the target audience is can help improve targeting.
One of the important elements is demographic age ranges because you can determine the interests of your target audience simply by knowing their age ranges.
For more details on this topic, you can read more articles or watch videos. For a personalized review and understanding, you can hire a Facebook Marketing expert.
If you want to suggest any change, please do not hesitate to contact me. I hope you learned a lot here. All the best with your business promotion and growth goals.