It was an anniversary that was not widely reported but in February of this year Facebook – now officially known as Meta Platforms Inc – was 20.
FB remains what it was originally intended to be. Connectivity within the social media landscape surpasses 3 billion monthly users, the biggest platform on Earth. But it’s a far cry from Mark Zuckerberg’s 2004 baby.
Today it is a major business and advertising megalith and one of the central players in digital marketing. But to use it effectively often takes the know-how of a digital marketing agency that can guide your business to success.
Utilising a firm with a proven track record can – appropriately enough for a platform’s 21st year – open the door to business growth.
Facebook’s own business story really started to take off in 2005 with their first major funding round that the following year opened up the site to the general public heralding the start of a business and advertising model that has been copied but rarely beaten.
In 2012 FB went public with an Initial Public Offering (IPO) of US$16 billion that valued the company at more than 100 billion bucks. Not bad for a group of Harvard buddies.
In 2013 the Ads Manager tool created targeted ads based on user data opening the door to FB becoming a major advertising platform (much to the chagrin of many who were bombarded with ads, an unfamiliar experience a little over ten years ago but all too familiar today).
After the acquisition of Instagram and WhatsApp in 2014 reach increased and following the Cambridge Analytica kerfuffle later that decade FB advertising tools and analytics offered more sophisticated targets and measurements.
These days Meta – as we might one day call it (who’s got used to X?) – has continued to incorporate new features and technologies maintaining its dominance in the digital advertising sphere utilising AI-driven ad targeting as well as crucially important cross-platform integration.
It’s been a meteoric rise over the last two decades and poking fun at it for a place where people only post their dinner is absurd.
These days for small and medium businesses in particular understanding what it can do for you is vital. It’ll put extra billions in Mr Zuckerberg’s back pocket but contacting the worldwide firm in the link may make you a mint too!
Box clever and use Facebook to YOUR ADVANTAGE.