Facebook continues to remain the key market for online retailers looking to grow their business through social media.
Research from Efficient Frontier has found that the Facebook ad cost-per-clicks (CPCs) increased significantly in the third quarter of this year, meaning that competition is rising in the Facebook market.
Backing this finding, it was also discovered that overall Facebook ad spending rose 25 per cent between the second and third quarters.
"This quarter, we continued to see Facebook make gains as a 'must have' for marketers as they try to maximize their fan base reach. Additionally, the rise in mobile search spend – especially among tablet users – was striking," said David Karnstedt, president and chief executive officer of Efficient Frontier.
Currently, the number of 'likes' for brands on their official Facebook pages is increasing by an average of nine per cent per month, doubling consumer bases year-on-year.
The study backs claims made by analysts at eMarketer, who suggested that Facebook is still the dominant social network for advertising.
Posted by Paul Newton