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Facebook Advertising in 2022

Updated: May 23, 2022

In our increasingly complex digital world, it can be hard for marketers to get a clear view of how their online advertising activity truly impact business performance. Consider Facebook ads! A lot has changed for marketers and advertisers in the past two years with targeting and iOS updates being the most impactful.

Despite all the changes, research shows that more than 62% of companies increased ad budgets on Facebook in 2021 and more than 50% of companies expect their Facebook ad budgets to increase again in 2022! Having this said, only in 2020, the social media titan made £67.39 billion from advertising and £1.44 billion from other payments. This is despite the fact that over 40% of businesses and agencies say performance from Facebook advertising either stayed the same or performed less well last year.

Okay so what’s happening? Is advertising on Facebook still worth continued investment? And for who? And how?

Well first off, Facebook simply can’t be ignored. It is used more than once a day by 45% of UK monthly active users and of the total online population of the UK (an estimated 61 million), only 15.25 million people do not use Facebook. The remaining 43 million use Facebook at least once a month!

So to bring Facebook advertising effectiveness into focus, we need to explore the opportunities and the challenges agencies and businesses are facing. This includes setting and managing budget and choosing the right ad objective, to selecting the right ad format, setting proper targeting, analysing and reporting on results, and much more. Understandably there’s no silver bullet! In reality what it takes is renewed focus on all these elements as well as truthful assessment of how compelling your proposition is and how, if necessary, it can be improved.

Whilst some may still lament the not so new privacy policies but the reality is companies will need to get more educated and generally improve their data tracking and analysis to drive growth and win on the advertising playing field. Further, agencies that want to prove and improve ROI to their clients, will need to educate them on the KPIs that precede revenue, to more quickly identify the ad strategy that will drive their business forward.

In summary, it’s possible to concluded that the two main drivers of change in Facebook advertising have been the sudden increase of competition that escalated with the pandemic and the latest privacy update that came in 2021 for iOS users. These changes mean that business owners, their marketing teams, as well as paid ads specialists in agencies, will find it more challenging to stay competitive, deliver results, and drive growth. Closer and more attentive campaign monitoring will be a necessity for all.

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