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Facebook user growth rate was estimated at 8.7
percent in 2020. This was the highest growth
measured over the evaluated period. With the
coronavirus outbreak at the first half of 2020,
internet users resorted to social media to stay
connected.
https://www.statista.com/statistics/1202765/facebook-annual-growth-rate-worldwide/
When creating a marketing campaign (pre-pandemic), one of the
first avenues that would come to mind was the traditional trifecta of Press, Radio and TV. Social
Media was often considered as not as important, or left by the wayside altogether. Now, it’s a no
brainer...along with having a significant presence online. Granted, many companies still use traditional
media but Social Media advertising has become first on the list – not just because it’s so much more cost
effective, but the ability to tailor your ads, interact with your customers and specify your target audience
is unbeatable. Also, whereas previously, many companies did not see the importance of having an
Ecommerce website and were comfortable operating without one, COVID-19 health restrictions
dissuaded consumers from physically going into stores. This, in turn, led to an increased online purchases
from competitors who had such websites. Perception (and habits) definitely changed thanks to the
explosion of social media and ecommerce usage.
What caused the explosion on social media?
With the government sanctioned lockdown resulting in reduced operating
levels (or in other cases, physical closure), businesses needed to find a cost effective
way to still reach their customers. This was through the use of Google Ads, Facebook/Instagram ads,
Facebook/instagram accounts, Stories and Reels.)
Creating a full ecommerce website can be very expensive and time consuming.
Therefore, individuals and businesses alike turned to Facebook as it can function
similar to an ecommerce site.
The pandemic caused massive job losses, and out of this rose thousands of people trying to make ends
meet – in effect, birthing a new wave of pandemic-inspired entrepreneurs.
Today, many companies are now taking onboard the lessons learned from the last few years and have the
opportunity to use Marketplace on Facebook, and some are finally using Ecommerce websites, while
realising the potential and benefits of doing so.
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