Downward Trend of Facebook Users and How Will it Affect Your Business

According to Statista, Facebook has been going down steeply in recent years. With this Meta social media platform being one of the best choices for Micro, Small, and Medium Enterprises (MSMEs) for free reach, how will it affect businesses?

Facebook alone lost two million users in a single quarter of 2022.

“According to its latest earnings release, Facebook’s monthly active users declined by two million in the second quarter of 2022, a first in the platform’s 18-year history,” Statista said.

“In Q2 2022, Facebook had 2,934 million monthly active users, down from 2,936 million in the previous quarter. Meanwhile, the number of daily active users climbed from 1,960 million in Q1 2022 to 1,968 million in the three months ended June 2022. Looking at year-over-year growth, both monthly and daily active users follow a similar downward trend and are now in the low single digits,” the report added.

What does this mean for businesses?

Less Reach

Many MSMEs may notice a decrease in the reach they’ve typically enjoyed on social media platforms. This reduced reach translates to fewer leads and subsequently, decreased sales, especially on platforms like Facebook. Pages that once garnered high engagement may now find their audience interactions dwindling. The efforts put into social media marketing might seem less rewarding than before.

How to Mitigate It?

Adaptation is crucial. Social media dynamics are evolving rapidly, with platforms emphasizing video content over traditional graphics, photos, and text. To mitigate the impact of reduced reach, MSMEs should acquire video editing skills and explore emerging platforms like TikTok. Learning to create engaging videos for TikTok not only addresses this platform but can also be leveraged on Instagram, which now prioritizes Reels.

In the ever-changing landscape of social media, adaptability is the key to staying relevant. MSMEs must make wise choices about where to concentrate their marketing efforts and continuously analyze their social media insights to fine-tune their strategies. (GFB)