Almost everyone who wants to be in the First World social loop is plugged into Facebook. The social media company has become the world’s living room where family fights are played out, romances bloom, careers are made or broken, lost pets are found, homeless pets are provided with forever home, jokes are laughed at or ignored, and friends and family solidify their bonds or part ways forever over disagreements concerning religion and politics. Collectively, the people of planet Earth spend 20 billion minutes on Facebook every day. No wonder the social media giant has become a marketer’s paradise.
When social media first hit the scene, it was mainly used by younger people. However, people of all ages use Facebook. Although 83 percent of 18-to-29-year-olds in the United States use Facebook, the rest of the population isn’t that far behind them. Sixty-seven percent of people of all ages have a Facebook profile.
Officially started in 2004 by college student Mark Zuckerman, Facebook is now a billion dollar company that derives the majority of its profits from advertising. Facebook’s status as the top dog on the social media food chain is not likely to come to an end any time soon. Although other social media sites exist, Facebook faces no significant competition, and advertisers continue to flock to the site to sell their wares.
One of the most attractive aspects of Facebook in the eyes of advertisers is the “like” button. Every time a user “likes” a product or service, that means positive exposure to all of the people on that user’s friends list. If even a small percentage of those people “like” the product or service, that increases the exposure substantially because everyone on their respective friends lists will see the “like.” No other service has ever been able to offer advertisers the amount of sheer exposure to consumers from every corner of the planet as Facebook.