Facebook continues to be a popular platform among marketers, but how big is its return on investment? Furthermore, how does video content perform across the website?
To better understand its overall impact on marketing strategies, Buffer and Social Media Week recently conducted the “State of Social 2018.” The majority of respondents (96 percent) claimed that their business is actively using Facebook. However, 31 percent said they strongly agreed with the statement, “My Facebook organic reach has declined over the past 12 months.”
In an attempt to make headway on Facebook, about 70 percent of respondents said they post video content on the social network, yet most (69 percent) are not taking advantage of live video capabilities on social media, i.e. Facebook Live. Challenges to creating video content include lack of time (64 percent) and no budget (41 percent).
In terms of overall impact, survey respondents were positive on their social media marketing efforts – 29 percent claimed their efforts were “very effective” and an additional 45 percent indicated they were “somewhat effective.” Half of the respondents said that they do not have a documented social media strategy.
About 1,800 marketers – from both SMBs and enterprises – took part in the survey.
Facebook and Paid Social Marketing
Previous research has highlighted marketers’ dedication to Facebook, but it has also shown some of the setbacks associated with it in terms of paid social and marketing.
Merkle recently conducted the its quarterly “Digital Marketing Report” to assess how marketers invested in social media sites, such as Facebook. The data showed that while Facebook ad spend grew 20 percent year-over-year in Q4, this was a significant decrease from the 40 percent growth recorded during the first three quarters of the year.
“This decline aligns with Facebook’s stated expectation that increases in ad load would decline in the back half of 2017 as the social media giant seeks to optimize user experience,” concluded the authors of the report.