The short answer is No, but in a way, the best years have gone for marketers.
Not going away
Facebook is not going to be going anywhere very quickly, due to the large numbers of users, and the types of users it has. The Majority of Facebook users are the less sophisticated or savvy users. These are the same people that don’t change their banks or energy supplier when plenty of cheaper options are around, simply because they change rarely.
These people that use the platform the most do seem influenced by fake news and quite naive about the marketing being done around them on the platform.
The sophisticated users, and that includes many of the younger generations, are already onto many better platforms that suit their lifestyles.
Facebook does keep many users for the conversations on Facebook groups. For many businesses, these are a much better medium for keeping in contact with their user base, than the facebook business page. Primarily as everybody will see a group post, but few see a business page post without paying for a boost!
Facebook advertising will never be as cheap
As the numbers of businesses try Facebook advertising, the price is starting to climb. In many areas, we have seen costs almost double in just over a year and they are likely to continue to climb as more people see it as a place to use their advertising budgets. It is also evident that the number of people seeing a directly accountant ROI (Return on investment) is also falling.
Would I still recommend Facebook
Yes, there are many places where Facebook is a great way to find and communicate with potential and actual customers.
- No other platform can profile users as well as Facebook. Although must of the recent Facebook scandal is incorrect, i.e. You should never own the Facebook data about people, you can only create lists with Facebook using what it knows to add to that list by targeting or finding similar people to your list.
- No other platform has the size, in the social media space. Google search and youtube doesn’t really count in the same way.
- As already said, the facebook groups feature can be powerfully used.
Before you start, you need a proper sales funnel and analytics, you can then start with a modest budget and test test test and test again
Where else should I look?
You should try and support some of the other big social media channels, often with the same information because they will target a different group of people. have you ever heard of email? – There are still ways to communicate with users that are not under the control of social media. Physical Mail, the phone, SMS and email.
However you do this, you need a long-term strategy. I suggest promoting in name at least, with every social media platform and method you can accommodate. You then start with the same message to all of them and then concentrate your effort on the top 2 or three that show engagement. Kepp the others ticking over in case the market moves. Create and model your content for your main medium and share it with the others to keep them ticking over.
Every few months I might start a new campaign on a new direction on a new platform. After 90 days I look at the analytics and see if continuing this will make any sense. It is fine to fail online if a marketing campaign has no interest, that who will know you ever tried it? If nobody hears you, stop shouting and try something else. It is not just the medium, you need to try different approaches and stories.
But, you have to keep trying. There are lots of marketing frogs out there, every business is different and you never know exactly which your Prince will be.