Facebook will announce than more than 5 million businesses are using the free social network to advertise themselves, not only that but to announce that FB is updating its ad services to pull more small businesses onto its mobile platform.
Chief Operating Officer Sheryl Sandberg said in an interview with Reuters that the number of ad buyers was an important milepost, showing that Facebook has room to grow despite its massive scale.
The company had 4 million advertisers back in September moving from 3 million in March 2016.
The rapid growth in the number of advertisers on Facebook relies on the huge number of users (1.9 billion) on it.
Facebook is battling Alphabet Inc’s Google for dominance in digital advertising. The two companies are expected to have 46 percent on online ad spending in 2018, according to research firm eMarketer.
Facebook has big brand advertisers who do much of the spending, yet FB wants to attract small advertisers, setting tools as audience targeting, a mobile design studio and online courses available in 10 languages.
Sheryl Sandberg, Chief Operating Officer of Facebook said,” Small businesses provide such important products and services, but they also are a huge engine of job growth in a world where job growth is increasingly uncertain and something people really worry about,”.
The biggest industries among the 5 million advertisers are e-commerce, entertainment/media and retail, the company said. 75 percent of them are outside of the United States and its fastest growing markets are India, Brazil, Thailand, Argentina and Mexico.
Nearly 50 percent of the advertisers create ads on mobile devices, reflecting the increasing importance of smartphone based usage to Facebook’s future.
Additionally, more that 90 percent of Facebook’s users access the network through mobile phones and mobile advertising accounts for 84 percent of ad revenue, the company said in February.