Power of Facebook
The marketing effect of Facebook in 2014 led to $148 billion of global economic impact and 2.3 million jobs globally. The US, home to the social network’s largest market, captured nearly half of that overall economic impact - $81 billion and 870,000 jobs - through a mix of active advertising spend and high page engagement, according to the Facebook’s Global Economic Impact report from Deloitte and Facebook.
After the US, Brazil ranks as second in termsof economic impact from marketing, with the country’s huge population and highly engaged base of Facebook users have contributedto an estimated economic impact of $8.4 billion and 189,000 jobs. Economic impact in the UK is estimated to be the third-highest at $6.6 billion and 89,000 jobs, as a result of active advertising and engagement.
“The cost‐effectiveness of advertising for businesses is derived from the ability to target the relevant audience,” says the report. “Aggregated insights collected during their advertising campaigns allow businesses to further fine‐tune their campaigns. Facebook’s self‐service, auction‐based ad tool lets marketers of all sizes create campaigns at scale. These features lower the barriers to advertising and allow companies that would not be able to advertise in traditional channels to take advantage of promoting their products and services.”