In the U.S., social media marketing spending is forecast grow in the coming years and, given its position as market leader, Facebook is at a favorable and promising position. Facebook is already considered the most important social media platform for marketers and the most used by them. In 2017, about 94 percent of marketers reported using Facebook to market their business, ahead of Twitter, LinkedIn and YouTube. Facebook is particularly popular among business-to-consumer (B2C) businesses other than (business-to-business) B2B companies, as about 97 percent of B2C marketers in North America stated using the platform in comparison to 86 percent of B2B marketers. Despite Facebook’s ubiquity, 40 percent of marketers remain uncertain of the effectiveness of their Facebook marketing, while only 34 percent believe their Facebook marketing approach is effective.
The popularity of Facebook among marketers and consumers is translated into advertising revenue for the company. Advertising in fact accounted for 95 percent of Facebook’s total revenue in 2017. That year, the company generated about 39. billion U.S. dollars in ad revenues worldwide. In terms of platforms, mobile is already of the main advertising streams for Facebook and shows healthy projections, as their global mobile advertising revenue is expected to nearly double between 2017 and 2021. Considering the vast number of Facebook users in the U.S., the country is an important advertising market for Facebook. In 2015, nearly half of Facebook’s total revenue was generated in the U.S. By 2018, Facebook’s advertising revenue in the U.S. is forecast to reach nearly 19 billion U.S. dollars. The company has the second largest net digital ad revenue in U.S. as well, and is forecast to maintain this position in the coming years.