Facebook remains a powerful platform for advertisers. With more than 2.8 billion monthly active users, the social media platform offers unparalleled reach and targeting capabilities. But to truly maximize your success, staying informed about the latest trends and data surrounding Facebook advertising is essential. In this blog, we've compiled 13 insightful Facebook advertising statistics for 2024, highlighting the platform's influence, performance, and potential for driving engagement and conversions. Use these statistics to refine your ad strategy and stay ahead of the competition.
According to Northbeam, around 70% of ad spend for all its users goes to Facebook/Instagram.
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This statistic highlights these platforms' dominant role in digital advertising, making them key channels for brands looking to maximize their reach and engagement. The high investment reflects the platforms' effectiveness in driving conversions and brand visibility across diverse audiences.
1/4 of all digital ads on paid social were dynamic product ads in 2022 (Marpipe on the Triple Whale podcast)
In 2022, dynamic product ads (DPAs) made up a quarter of all digital ads on paid social platforms, according to Marpipe on the Triple Whale podcast. These ads are widely used by major retailers and DTC (direct-to-consumer) brands because they allow businesses to automatically promote relevant products to consumers based on their browsing behavior. This personalized approach drives higher engagement and conversions, making DPAs an essential tool for brands looking to maximize ROI on paid social channels.
Facebook's user base consists of a larger proportion of male-identifying users compared to female-identifying users. (Statista)
According to the platform's data, 56.8% of users identify as male, while 43.2% identify as female. This reflects the platform's current demographic reporting, limited to these two categories.
Repetitive Ads (High Frequency) Cause a 16% Drop in Purchase Intent (Brighter Click)
A study conducted by IPG's Magna unit and Nexxen revealed that viewers who saw the same ad six or more times experienced a 16% drop in purchase intent. Despite strong ad recall, overexposure led to viewer frustration, emphasizing the need for careful ad frequency management to avoid diminishing returns.
UGC is 8.7x times more powerful than influencer content and 6.6x more influential than branded content. (Social Media Today)
User-generated content (UGC) is authentic and impactful content for consumers. Nearly 80% of respondents stated that UGC significantly influences their purchasing decisions, making it 8.7 times more effective than influencer content and 6.6 times more influential than branded content, according to a report by Social Media Today.
56% of all auction outcomes can be attributed to ad creatives
Ad creative has a vital role in the success of your campaigns, with 56% of all auction outcomes directly influenced by the quality of the creative. This emphasizes that while targeting and bidding strategies are important, the creative itself substantially impacts whether an ad resonates with your audience and drives engagement. Crafting compelling and visually striking ads is essential for maximizing ad performance and achieving the best results in competitive auctions.
In 2023, Facebook generated an estimated $118.96 billion in ad revenue. (Statista)
In 2023, Facebook's advertising revenue reached an impressive $118.96 billion, highlighting the platform's continued dominance in the digital ad space. This staggering figure underscores Facebook's power as a go-to social platform for businesses looking to reach a broad, engaged audience. With such significant revenue driven by ads, it's clear that Facebook remains a crucial channel for advertisers aiming to achieve impactful results.
Vertical video including audio sees a 35% higher click-through rate (Meta)
Meta has found that vertical videos with audio, like Facebook Reels, outperform other video formats on the platform, generating a 35% higher click-through rate (CTR). Since integrating Reels, this engaging format has proven to capture attention and drive user interactions. It highlights the importance of incorporating vertical, sound-on video into advertising strategies for better engagement and results.
In March 2023, apparel and footwear was the industry with the highest click-through rate (CTR) for Facebook ads worldwide, at 2.06 percent. (Statista)
In March 2023, technology was the industry with the cost-per-mille (CPM) for Facebook ads worldwide, at 9.98 U.S. dollars. The lowest CPM was recorded for manufacturing products and services, at 2.4 dollars. (Statista)
In March 2023, IT and software was the industry with the highest cost-per-click (CPC) for Facebook ads worldwide, at 85 U.S. cent. The lowest CPC was recorded for food products and services, at 0.18 cent. (Statista)
Facebook, the first social network to surpass one billion registered accounts, now boasts over three billion active users each month. Meta Platforms, which owns Facebook, also manages four of the world’s largest social media platforms—Facebook, WhatsApp, Instagram, and Facebook Messenger—each with over one billion monthly active users. By the third quarter of 2023, Meta’s core Family product line reached approximately four billion monthly users. (Statista)
As of 2024, the average global daily social media usage among internet users was 143 minutes, slightly down from 151 minutes in the previous year. (Statista)
59% of users on Facebook claim to have reached out to a brand on the platform (Khoros)
Nearly 60% of Facebook users have interacted directly with a brand on the platform, showcasing the importance of maintaining active customer service and engagement channels. This statistic highlights Facebook’s role as a key platform for brand-customer communication.
50% of a users time spent on Facebook is watching videos (Facebook)
Half of the time users spend on Facebook is dedicated to video content, making it a powerful medium for brands to capture attention and engage audiences. This underlines the need for brands to invest in compelling video content to maximize engagement on the platform.
The statistics highlighted in this blog demonstrate the undeniable impact that Facebook and social media have on global marketing and user engagement. From the rising influence of ad creatives and vertical video formats to the varying time spent on social platforms across different regions, it's clear that understanding and leveraging these trends is critical for businesses looking to optimize their ad strategies. As social media evolves, staying informed of these changes will help marketers create more effective campaigns, maximize engagement, and achieve better results. Whether fine-tuning creative elements or utilizing data-driven insights, staying ahead of the curve is essential in today's fast-paced digital landscape.
Facebook statistics FAQs
How much do Facebook ads cost?
The cost of Facebook ads depends on factors such as your target audience, the bidding strategy, and ad placement. The average price per click (CPC) for Facebook ads is around $0.94 globally, which can vary depending on your industry and objectives. For example, industries like finance or insurance may see higher CPCs than retail or entertainment.
Can you do targeted ads geographic Facebook?
Yes, Facebook allows you to run highly targeted ads based on geographic locations. You can narrow your audience by country, region, city, or postal code. This targeting feature is particularly useful for local businesses wanting to reach nearby customers.
Why is Facebook ad reach so low with website conversion objective
When you choose the website conversion objective, Facebook optimizes for users more likely to complete a specific action on your site, such as making a purchase. This often results in higher CPMs (Cost Per Thousand Impressions) because Facebook shows your ad to a smaller group of high-intent users rather than a broader audience.
Can you run ads for Facebook groups?
No, Facebook currently does not allow direct ads for Facebook Groups. However, you can promote a group by running ads to a landing page encouraging users to join your group or by linking your group to ads promoting related content.
Is a $50 budget good for Facebook ads?
A $50 budget can be sufficient for smaller campaigns or testing purposes. It can give you insights into how well your audience responds to your ads and allows you to make data-driven decisions. However, you may need a larger budget for more competitive industries or broader targeting to see significant results.
Does Facebook marketplace ad show in Google organic search?
Facebook Marketplace ads do not appear in Google's organic search results. Facebook ads, including Marketplace ads, stay within Facebook's ecosystem and its partner sites but are not indexed by search engines like Google.
Are Facebook ads worth it?
Yes, Facebook ads are worth it for many businesses due to their vast audience and detailed targeting options. If executed well, Facebook ads can provide a good return on investment (ROI) by reaching the right people and driving engagement or conversions. However, results depend on creative quality, targeting, and budget.
What is a good CTR for Facebook ads?
A good Click-Through Rate (CTR) for Facebook ads generally ranges between 0.90% to 1.5%, depending on the industry. If your CTR is higher than 1.5%, your ads are likely performing well. A lower CTR may indicate that your ad creative or targeting needs adjustment.
How much should I spend on Facebook ads?
How much you should spend on Facebook ads depends on your goals, industry, and competition. A general rule of thumb is to allocate at least $10 to $20 per day for smaller campaigns, but larger brands often spend significantly more. Start with a test budget and scale up as you gather performance data.
How effective are Facebook ads?
Facebook ads are highly effective when executed properly. They allow businesses to reach a vast, highly targeted audience with precision. Facebook's wide range of ad formats and sophisticated targeting make it one of the most effective platforms for driving engagement, leads, and conversions.
How to see Facebook ads of competitors
You can see your competitors' Facebook ads by visiting the Facebook Ad Library. Search for the competitor's Page, and you can view all their current and past ads and information about where they are running.
How to track purchases on Facebook ads
You need to install the Facebook Pixel on your website to track purchases from Facebook ads. The Pixel allows you to track user actions, including purchases, and attribute them to your ads. It also helps optimize your campaigns for conversions.
What does not delivering mean on Facebook ads?
When a Facebook ad is labeled as "Not Delivering," it is not shown to your target audience. This could be due to various factors, such as low bids, budget exhaustion, disapproved creatives, or an overly restrictive audience.
How to see comments on Facebook ads
To see comments on your Facebook ads, go to the Ad Manager, click on the ad, and then click the "Preview" button. From there, select "View in Facebook Post with Comments," which will take you to the live version of your ad, where you can read and respond to comments.
What is scaling Facebook ads
Scaling Facebook ads refers to increasing your budget or expanding your targeting to reach a larger audience while maintaining or improving performance metrics like ROI and conversion rates. You can scale vertically (increasing budget) or horizontally (expanding targeting or adding new ad sets).