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In my opinion there are two reasons for that.
One the one side Social Networks like Facebook have a massive user base. Facebook has over 1 billion user every month and that is a huge potential.
On the other side you can target your marketing campaign very good with social media. That's because everyone is sharing their interests and hobbies inside these social networks and you can target them with you ad campaign.
For example if you have a product for young men between 18 and 25 years which are interested in Basketball it is very easy to target such a target group and place ads.
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