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The following was taken from socialmediatoday.com 

How Brands Reach Consumers: Both good and bad, Facebook (and all social media for that point) have changed how brands communicate with consumers. The proliferation of social advertising created an entirely new advertising model and ecosystem (with hundreds of businesses) around social media marketing. Why? Word-of-mouth recommendations from friends and family, often referred to as earned advertising, are still the most influential and trusted, as 84% of global respondents across 58 countries said in a 2013 Nielsen survey. In turn, brands create content they think you’ll want to share with friends. In 2013, Facebook even blew past Google in driving site referral traffic (as depicted in the graph below), showing that producing premium content on Facebook is a serious business model.


Source: http://socialmediatoday.com/dubois/2143791/decade-facebook-10-things-social-network-changed-forever