As Facebook continues to lead the charge into our transformation to a social marketing economy, we are continuously reminded that as Facebook’s record-breaking reach continues to grow, other traditional forms of marketing and advertising continue to rapidly decline. Just this week it was announced that the NFL audience reach, which was historically most popular form of TV content, continues to decline by 8% in 2017 alone. This comes at the same time as American’s continue their chord-cutting efforts with paid TV at a record pace with an expected 30% of Americans who will not have paid traditional TV services within the next 4 years!
All of this follows the continued record amount of time the average consumer now spend on mobile (3 hours) and Facebook (1 hour) each day. With these changes, we are seeing a dramatic shift in not only WHERE we market and advertise to today’s consumers but HOW we advertise to them as well. Traditional “broadcast” marketing using such mediums as print, TV commercials, and paid textual content ads are now being quickly replaced with mobile and social-targeting (or avatar) based elements such as visuals, video, and micro-conversion based advertising.
And all of this is happening because of two major changes in today’s marketing having to due with REACH (to total number of people exposed to your ads) and FREQUENCY (the total amount of time they are exposed to it). As indicated in the accompanying chart, total reach provided by Facebook & Instagram (Facebook owns both) has grown to 68.4% of the entire US population as of September 2017. On top of this, the average mobile user now spends an hour a day on Facebook (one-third of their total time on mobile) which is crazy-high frequency. These totals together amount to a total marketing reach and frequency provided by Facebook through it’s own channels (Facebook & Instagram) that is greater than any of other competing marketing channels…combined!
So if your marketing is still stuck in yesterday’s economy and you are still marketing to yesterday’s consumer’s, this should be your formal wake-up call! Marketing is all about putting the right information in front of the right people at the right time and social media now allows you to do exactly that for today’s consumers.
Need more help in how to do this? Follow me on Facebook and I will continue to show you how…