Facebook reaches over 2.4 billion users each month, and 1.6 billion users every single day, according to figures released in October 2019. This large-scale reach combined with a wealth of rich user data provides a good opportunity for advertisers to communicate directly with their target audience.
The line between paid and earned content has blurred in recent years due to changes in the Facebook algorithm, whereby to guarantee reach advertisers are increasingly needing to pay for advertising. Major changes to Facebook’s News Feed algorithm has further decreased the chances of brand content organically reaching users.
Facebook continues to offer advertisers new ways to engage with consumers, for example through advances in its video offerings, and with chatbots and augmented reality on Facebook Messenger. It is now advising marketers to shift focus form "shiny metrics" to ones based on reach which is more actionable and linked to business objectives.
However, Facebook’s reputation has been negatively impacted by a series of controversies over the accuracy of campaign reporting, the misuse of user data and the spread of misinformation on its platform. Research also warns that Facebook is diminishing in popularity among younger consumers in comparison with YouTube, Instagram and Snapchat.