Still no ROI business case… but Facebook media consumption trends revealed

Still no ROI business case… but Facebook media consumption trends revealed

 

We’re pretty sure even the most technophobic media commentator has given up predicting the end of the Facebook-era. However, it’s perhaps surprising that Zuckerberg’s company has continued to grow. In March this year, the site’s monthly active users almost hit the 2bn mark and the Facebook media consumption insights are interesting. We’ll talk later on about Facebook’s role in your Marketing Strategy.

Shifts for 2020 – Facebook Consumption Insights

For its “Shifts for 2020” series, Facebook has released a new research report which investigates how new tech is impacting user actions. It specifically looks at “tech-driven shifts that will change the way we connect, come together and create community.”

According to Social Media Today, the company has identified these core trends:

Mobile increases media consumption speed

In case you missed it, the average attention span is now reportedly shorter than that of a goldfish. However, Facebook’s research argues that access to a continuous stream of information has sped up our ability to consume media, especially on mobile.

In fact, it found that users consume content faster on mobile than on a computer, with people spending an average of 1.7 seconds looking at a piece of content on their mobile devices, compared to 2.5 seconds on a computer. That doesn’t give you much time to make an impact!

Explosion of mobile video

Cisco predicts more than 75% of the world’s mobile data traffic will be video by 2020. And Facebook believes mobile and millennials will be the driving factors behind this growth.

People are 1.5 times more likely to watch video daily on a mobile than on a computer, while millennials are 1.35 times more likely to find it easier to focus watching videos on mobile when compared to older generations.

Rise of live video

Live broadcasts already account for one in five videos on Facebook, but the company predicts new technology will further enable people to share their moments as they experience them.

VR and AR will blend to create fluid realities

People have positive views about virtual reality (VR) and augmented reality (AR) and the roles it can play in their lives. In fact, more than two thirds (68%) see VR as becoming a part of everyday life. It is perhaps unsurprising that Facebook predicts the lines between VR and AR will blur.

Use of virtual assistants will grow

People are increasingly using voice-enabled digital assistants, and this is expected to grow. However, the majority of respondents said they prefer to use the tech where they can’t be heard, with 51% saying they use it at home and just 6% using it in public.

Marketers need to be prepared for these trends, as expectations for efficiency and immersiveness will continue to grow. As well as including ‘reality planning’ in your future marketing strategies, marketers must ensure their video is built for mobile.

But how should you approach your Facebook Marketing Strategy?

Facebook’s numbers are impressive on the face of it. Before your business invests heavily into the platform, you should consider who you are targeting on Facebook and how relevant your brand’s message is to the channel. In our experience, Facebook is somewhere people go to chat and spend some downtime, rather than researching the purchase of their next “Pan-Galactic Gargle Blaster”.

In terms of your Marketing Strategy, Facebook plays a much stronger role in a broader ‘Awareness’ role, but is far less influential in the actual ‘Purchase’ phase. On the face of things, Facebook is a ‘Free’ channel with high potential to gain reach to millions of consumers. But once you factor in low ‘Intent’ in users to engage with advertisers, the cost of maintaining ¬†staff to keep your timeline up to date and the lack of credible Return on Investment case studies, we recommend Facebook participation on a case-by-case basis for clients.

Need a hand creating a future-proof marketing strategy, with or without Facebook ;-)? Get in touch with Fireworx today.

2018-08-13T10:52:21+00:00