One thing is for sure, 2020 was a year marked with unprecedented challenges and changes. Included in those changes is the way businesses interact with customers on a daily basis. Social media and other internet marketing tactics have drastically increased in popularity. Even these channels have been changed by the pandemic. We can expect big changes in social media marketing carrying into 2021 and beyond, specifically in Facebook ads.
Facebook has dominated the social media advertising industry for years. According to statista, “The market share of Facebook amounts to an estimated 80% of the Social Media Advertising segment and the selected region in 2019.”
With Facebook being such a large social media advertising platform, it is important to be aware of future trends with Facebook ads.
Here are the top trends to expect for Facebook ads in 2021:
#1 Costs Will Be Unpredictable
Facebook ad costs have drastically shifted due to the Coronavirus pandemic. Although global ad cost for Facebook has dropped since the beginning of 2020, this is likely to change. Facebook is the biggest player in social media advertising, giving them a lot of control over the cost of online advertising. Advertisers are likely to continue to use Facebook ads as their main platform due to the popularity among users, so it’s important for businesses to plan for shifting costs.
According to Facebook, Here are some tips to address this upcoming trend:
- Simplify your strategy
- Use A/B and multi-cell testing to optimize quickly
- Consider impact by industry and marketing conditions
These tips above will help to combat unpredictable ad costs. Focus on what your company does best. Continue to test ads through A/B testing to refine your approach. If you need help, a Facebook ads expert can help you get the most for your ads budget.
#2 eCommerce is Booming
eCommerce is one of the industries that has grown dramatically during the pandemic. Some businesses are experiencing tremendous growth while others are struggling, and one of the differentiating factors is whether or not a business offers an online shopping or ordering system. Many people have been forced to stay indoors and are ordering necessities online. Even as the pandemic ends, consumers are likely to continue shopping online as they have grown accustomed to the convenience. Thus, companies must focus on optimizing their eCommerce channels. Facebook ads can be a great way to drive more traffic to eCommerce.
Here are some tips from Cardinal Marketing:
- Increase Facebook advertising for products in high demand thanks to the pandemic
- Look for opportunities to capitalize on lower ad costs as businesses pause their spending
- Look for opportunities to be helpful with the new work-from-home life
#3 Facebook Ads are Evolving
Facebook offers a wide range of tools to help create engaging Facebook ads that are specific to your target audience. One tool is Facebook Mobile Studio which helps to create the perfect advertisement for your business. This tool offers short video ads, animated stories, and more.
As a business, it is crucial that you know your target audience. Facebook advertising is not a one size fits all approach. First, it is helpful to understand all the ad formats available through Facebook. Click here to discover the formats offered. Then you will need to choose the appropriate ad format for your target audience.
If you’re unsure where to start, it might be a good idea to contact a Facebook ad specialist who can help you understand all the options.
#4 The Lasting Impact of COVID-19
One thing is for sure, the impacts of the pandemic will continue for years to come. Businesses have made incredible strides to move towards a remote work environment. Fortunately for social media companies, social usage continues to grow. These platforms provide the opportunity to overcome boredom, shop online, and communicate socially with others.
Companies must determine their overall strategy given the lang-lasting impact of the pandemic. How consumers view business ads is starting to change. Now is the perfect time to strategize with your social media team or hire a third party social media management service.
#5 Social and Political Issues Surrounding Facebook
Companies must be aware of what is happening socially and politically with Facebook. If this is one of your main marketing channels then you need to understand the potential negative effects of Facebook ads.
During 2020, a growing number of people and businesses decided to boycott Facebook altogether due to data privacy issues and social movements. Some of these businesses include North Face, FEI, Starbucks, Unilever, Verizon, and Disney. It is important to be aware of these issues and how they might impact your brand image when you consider your Facebook ads usage.
There are a large number of changes on the horizon for Facebook advertising. The companies that will thrive are those who anticipate these future trends and adapt accordingly.