5 Reasons Why You Should Still Be Advertising on FacebookChances are, your target audience is there.

With social media platforms like Snapchat and Twitter growing in popularity, particularly among young people, you might think that advertising on Facebook is a waste of your time. But the fact is, that's just not the case.

Facebook is still among the world's largest social media platforms, withbillions of active userssigning in monthly. So much more than a home for fake news and trolls, Facebook can put your business in front of an audience you'd have little hope of reaching otherwise.

Related:3 Key Changes to Facebook Advertising After a Year of Scandal and Regulation

Here are five reasons why you should be advertising on Facebook:

1. It's still the fastest way to reach a huge amount of people in a short amount of time.

With 80 million business pages, there is a lot of competition on Facebook. And with their algorithm change last year, it's harder than ever to show up in a user's newsfeed. This may sound like a negative, but the truth is, your Facebook ads are still showing up in therightpeople's feeds -- that is, the ones who will actually engage with your content.

In order to reach an even wider audience, some businesses choose to pay for Facebook ads. By spending the extra money, you will not only appear in more feeds, but you can further target these ads to the right people. If your budget has the room, the spend is worth it.

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Targeting your ads ensures that the people who will be most interested in your product or service will actually see your ad. As reported in thenews,Facebook gathers a large amount of data on its users. Instead of being afraid of this fact, you should use it to your advantage! You can design ads to be seen by people who follow your competition, or you can set ads to be seen by a lookalike audience. A lookalike audience is exactly what it sounds like -- an audience that looks like your audience. They will be people who match the demographic of your audience but who have not yet found your brand/product/page. And more than just targeting people who do not yet know you exist, you can target your ad to your current followers and customers, alerting them to sales or new products they may be interested in. Other platforms may be growing, but Facebook remains one of the best ways to spread the word.

Related:How This One Audience Behavior Dramatically Affects Your Digital Marketing

3. You have access to an unlimited database of information.

In 2014, 25 percent of Facebook users -- that's more than a billion people -- said that most of their posts were set to public. This public setting leaves the door open for you to learn as much as you can about your target audience, including the products they purchase and like, as well as the language they are using to discuss these products. Once you have decided how to target your ads, you can use this information to build your marketing strategy and content to catch their eye and interest.

4. There's a good chance you'll reach your target audience on Facebook.

Eighty percent of all Instagram usersare located outside of the United States and 68 percent of all users are female. What's more, Instagram users are young, with only 32 percent of online adults having Instagram accounts. These limited demographics can make it harder to reach your ideal target. Facebook, on the other hand, covers a broader demographic with79 percent of American adultson the platform.

Even if your target is a younger audience, 83 percent of adults with teenage children are friends with them on Facebook. This means that any time these parents share or post about your products, their children may see it. And, don't forget, parents buy things for their children, so aiming some of your ads at them really can't hurt.

Related:How Companies Can Avoid Death by Rising Advertising Costs

5. It's easy for your audience to get in touch with you.

Should your business' posts on Facebook grab the attention of a potential buyer, it is easy for them to leave comments and questions or send a quick message to your page. Most businesses are able to respond to these messages quickly. In fact,42 percentare able to do so within the first minute of receiving a notification. Be sure that all of those with access to your Facebook business account understand that the faster they respond to messages, the better. Your overall response time is posted on your page.

Facebook makes communicating with your audience simple and easy, you are not restricted to images/video or character limits. Facebook is all about speed. More than4 billionposts are shared every minute, giving your ads and content a greater chance of being shared and going viral than on other social networks. Where other networks rise quickly and then drop off, Facebook has staying power. It will remain a dominant, driving force in building relationships between businesses and their customers.