During the corona crisis, the use of social media increased significantly. The number of Instagram users has increased by 11% and the number of Facebook users has risen by a staggering 22%. As a result, people are also making 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?
Because of the enormous growth in the use of social media, we also see an enormous growth in e-commerce. The e-commerce sector has grown by no less than 18% in the past year.
Some organizations are growing at an unprecedented rate, and these organizations have extra demand for products or services.
With most people staying indoors, sometimes mandatory, online shopping has become an easy way to get necessities without the risk of having to go to the shop. As a result, many businesses are using Facebook ads and remarketing to reach the right target groups online.
It is therefore not surprising that we are seeing a 10% drop in retail sales.
2. Facebook ad costs will remain unpredictable
As of the early 2020s, the global cost per click (CPC) for Facebook ads has declined, 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."
Ultimately, 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 advertising 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 amazing, and it can all be quite overwhelming. Videos are all the rage, of course, 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 easy to use and very effective, even for beginners.
4. Speaking of 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 gathered 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 video 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 at first. And some are so well-made that viewers don't care that they were being sold something. 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.
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 with your customer in real-time and provide them with the right solution based on their problem.
As you have read in this article, there are huge opportunities to start advertising 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.