During the corona crisis, the use of social media increased significantly. The number of Instagram users increased by 11% and the number of Facebook users has increased 22%. As a result, people will also make more online purchases. Facebook ads have made a huge contribution to this: it triggers people to make a purchase.
Facebook is evolving so fast that the question facing advertisers in 2023 is: what can't we do? Innovation will certainly abound, including new ways to use video, artificial intelligence (AI) and augmented reality. It really promises to be a wide choice for marketers, a wide choice that is busier and more competitive than ever.
Yet, despite all the changes that will shape Facebook ads in 2023, a few things will remain: the potential reach that advertisers have on this platform is huge. In 2017, the company crossed the 1.9 billion monthly users mark. According to some estimates, that number will rise to nearly 3 billion by 2020. To help you harness this huge reach, here is our list of Facebook ad trends you should be prepared for in 2021.
1. E-commerce: what is going to happen?
With the huge growth in the use of social media, we are also seeing huge growth in e-commerce. The e-commerce industry has grown by a whopping 18% in the past year.
Some organisations are growing at an unprecedented rate, and these organisations have additional demand for products or services.
Not surprisingly, we are seeing a decline in 10% in retail sales.
2. Facebook ad costs will remain unpredictable
As of early 2020, the global cost per click (CPC) for Facebook ads has fallen, as have Facebook ad costs across the board.
Will it stay that way forever? Probably not. Assuming Facebook's ad platform still exists in 2023 and beyond, it is more likely that companies will adjust and tweak their Facebook ad strategies, increasing competition among advertisers and thus costs again.
According to Facebook research, "About 89% of advertisers say they have taken action with their budgets in response to COVID-19; with 45% saying they have adjusted the use of media type or shifted budget between media types."
Eventually, the ad market will correct itself. Because the truth is that more people than ever before are using the platform.
Read here How to reduce your Facebook ad costs!
3. Facebook ad formats will continue to evolve
Market volatility aside, the options for Facebook advertisers have never been more extensive. The technology and resources are staggering, and it can all be quite overwhelming. Videos are of course all the rage, and augmented reality is taking off with the evolution of Spark AR Studio.
You can also do a lot on your smartphone. Facebook Mobile Studio includes a rich set of features for creating killer mobile ads, including image enhancements, short video ads, and animated stories. Facebook Mobile Studio is very user-friendly and highly effective, even for beginners.
4. Talking about ad formats, videos will continue its rise
Videos absolutely cannot be ignored by serious marketers planning to advertise on Facebook. Here's why: according to statistics collected by HubSpot, there are 8 billion video views on Facebook every day. 84% of marketers also use Facebook to promote their videos. 35% of marketers use Facebook Live to advertise. And way back in 2019, Facebook COO Sheryl Sandberg said three million advertisers had bought ads for Facebook Stories.
During these "turbulent times", many people are at home, on their phones, and looking for entertainment, joy, humour, or distraction. This, along with the incredible rise of YouTube and TikTok among Gen Z and digital natives, has created a perfect storm for videos to become the medium of choice for both consumers and advertisers.
Facebook video ads
One of the interesting things about Facebook video ads is that they often don't look like an ad, at least initially. And some are so well-crafted that viewers don't care that they are being sold. This is partly due to the way Facebook integrates these ads into the flow of a normal user experience "in-stream", in feeds, and in stories.
5. Chatbots
We all know how chatbots solve customers' problems. Chatbots will be one of the essential parts of the digital marketing trend by 2023.
This excellent AI (artificial intelligence)-based technology uses instant messaging to chat in real-time with your customer and provide them with the right solution based on their problem.
Conclusion
As you have read in this article, there are huge opportunities to advertise on Facebook. Keep this in mind when laying out your Facebook ad strategy for 2023: people will find you on their mobile phones, a trend that is unlikely to diminish. Be aware, be smart and optimise your Facebook ads for what people want.
