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R.I.P. Facebook ads?
Facebook’s stock recently plummeted 26% after it revealed that Apple’s privacy changes hurt them deeply, losing more than $230 billion in value. And it expects a $10 billion decrease in the company’s 2022 revenue.
So where’s the money going? Businesses are taking their dollars to other platforms like Amazon or Snap.
However, at Starter Story we’ve noticed some businesses are quitting Facebook ads entirely. This founder had spent $10K per month on Facebook ads for years. Suspicious that the ads weren’t delivering the results that Facebook was showing, he decided to completely kill his FB strategy.
The result? Nothing changed.
In fact, they’ve managed to get 700K new users in the last two years.
So, what platforms are founders using to grow their business??
- These founders make $3.3M/year selling watches on YouTube
- This Chrome plugin generated 150K+ thanks to TikTok
- This blogger used Pinterest to 10x web traffic in 6 months
Want more examples? Check out our growth database with 200+ ways to grow your business.
By the numbers:
- 2.9B -> Facebook monthly active users in Jan 2022
- $114B -> Facebook’s total advertising revenue in 2021
- $100B -> in revenue will Facebook lose due to Apple’s privacy changes
Facebook is still huge, that’s undeniable. But it’s showing signs of exhaustion.
We don’t recommend having all your marketing eggs in one basket. If you're solely relying on Facebook for your customer acquisition, it may be a good idea to start exploring other channels.
And if you’re not doing it already, focus on growing channels that you own (e.g. email list, content). Algorithms change and trends come and go. A healthy email database will make you money day in and day out.
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(1) This guy quit his job, learned a new skill, and started a $4K/month business. All in 6 months. At his job he was very well paid... but he still felt that something was missing. With his new gig, he couldn’t be more excited.
(2) This app made in Romania generates $35K/month. The issue of mental health finally has the attention that it deserves. And the success of apps like this is just evidence that we were ignoring something we should be very concerned about, along with a massive industry that will grow for years.
(3) This guy turned his side hustle into a $1M/year business. What started as a side project to cover the cost of living in an expensive city has become a full agency that has worked with over 120 DTC e-commerce brands.
Ready to start making some extra money?
Starting a side hustle is perfect to increase your savings, clear bills on time, or save for a holiday. And it can even be the first step to your future business.
To help you find the perfect opportunity, we have compiled a database with dozens of side hustle examples that you can start today.
It includes valuable information and essential data points such as the potential revenue, tools needed and case studies or real-life examples of people who started each side hustle successfully,
Check it out now. It’s free for our newsletter subscribers like you.
This industry generates the 10% of the global economy
Travel’s contribution to the global economy could reach $8.6 trillion in 2022. That is just 6.4% lower than pre-pandemic levels.
And in this survey, 81% of people said they plan to take at least one vacation in the next six months.
Everything points towards a bright future in the travel sector.
One business that’s already experiencing that rebound effect is this service that makes $450K/year sending people to unknown destinations.
But the travel industry is so huge - there are countless opportunities to make money in travel right now:
- Earbuds to sleep better (while traveling) -> $6M/year
- Discounts for hotels -> $3M/year
- Trips for people under 30 -> $5M/year
- Food tours -> $600K/year
- Luggage storage network -> $1.2M/year
- Golf trips -> $1.98M/year
- Frequent flyer programs tracking app -> $1.8M
By the numbers:
- 10% -> share of the total GDP generated by the travel industry worldwide
- 54% -> of people will spend more on travel than they did before the pandemic
- 300+ -> case studies of successful travel-related businesses
People have had a rough past couple of years. Spending on leisure and travel activities is going to grow tremendously.
The pandemic has had a “carpe diem” effect on people, enhancing the importance of the experiences you live. That’s probably why over 50% of people say that they’re going to spend even more than before COVID-19.
All this makes it a great time to get involved in this industry, now that it’s recovering at full speed.
Thanks for reading!
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