This week, Facebook reported a surge in revenue for the first quarter as more advertisers flocked to the social media platform. Revenue was $8.03 billion, up from $5.38 billion for the same period last year. Net income (profit) almost doubled to $3.06 billion, up from $1.73 billion last year. 2 billion people now use Facebook – young and old.
Here is what you need to know:
- While posting on Facebook can generate interest, Facebook is not simply a place for organic content and likes. It’s also one of the largest advertising platforms in the world and can generate very positive results. Industry experts recommend that 30% of your advertising budget should be spent online.
- Advertisers can target potential customers based their demographic and geographic factors. For example, you can target your pharmacy message (e.g. “Open Enrollment”, “Flu Shots” or “Mother’s Day”) to a 65 year old male or female who likes gardening or travel or the University of Texas, and lives within 500 yards from your store. This kind of targeting is not possible with traditional media like print or radio.
- More than 50 million Facebook users are over 55 years old.
We are helping over 450 pharmacies across the nation advertise on Facebook and we know it’s working. This past Valentine’s Day, a Facebook promotion brought 80 new customers into a pharmacy. Read more here. If you do not have a strategy for advertising online, including Facebook, let us show you what we are doing for other community pharmacies across the nation.