Facebook launched Promoted Posts in May 2012 and this week the social network released new figures from that effort. 2.5 million Promoted Posts have been sent from over 300,000 local business Pages and there are now 13 million local Pages and 150 million people visiting pages daily with 50 percent of those visits arriving from mobile users.
Over three million Pages utilize Facebook’s Pages Manager app to buy Promoted Posts. The number of Pages advertising on the social network has almost doubled since January 2012 while active use of local Pages has increased by 40 percent.
Analyzing the Promoted Posts data, 300,000 local business Pages out of 13 million is around 2 percent. Just a small fraction of small businesses have opted to promote posts which shows that adoption is very slow.
The social network didn’t announce how many active local business Pages it currently serves which would help provide more insight into the slow adoption rate of Promoted Posts. Marketers have scrutinized Facebook over its new advertising products, Mark Cuban being the most vocal.
On October 26 2012 Mark shared a photo on Twitter which showed just how much a Promoted Post cost on the Dallas Maverick’s Facebook Page.
FB is blowing it ? This is the first step.. The Mavs are considering moving to Tumblr or to new Myspace as primary site twitter.com/mcuban/status/…
— Mark Cuban (@mcuban) October 27, 2012
The idea of businesses paying for more fans to see their posts has been a hot topic of debate. Facebook has been free for so long and with just 2 percent of local business pages actually using Promoted Posts, it’s clearly showing that people aren’t fully buying into the pay to display model.