There's no mistaking the importance of Facebook in the social media world. It's got billions of users, 2.5 billion to be exact, and after 16 years is still the most widely used social media platform in the world with users spending an average of 38 minutes per day.
If it's that popular, there has to be some value in it for businesses right?
There absolutely is. In fact, that's why over 10 million U.S. small businesses are currently on Facebook. With Facebook, businesses can share posts, videos, and images, participate in Facebook groups, send messages, and even take advantage of paid advertising.
With so much to do that's free, why should paid Facebook ads be included in digital marketing strategies?
1. Facebook ads are cheap
Aside from the general popularity of the site making it an attractive medium for advertisement, the actual cost to advertise on Facebook is low.
Facebook's cost-per-click averages $1.10. in the United States. It also costs an average of $7.19 per 1000 impressions, and $1 per page like. Although lately I have seen these be a little bit lower.
Spending $100 on an add to get 10,000 impressions, 100 clicks, or 100 page likes is pretty efficient marketing. There's not too many other places
The average cost on Google Ads is $1.75/per click, although this depends heavily on the industry and the ad itself. Many industries have significantly higher cost-per-click than others.
2. Facebook Ads are highly versatile
The versatility of Facebook ads is seen in a few different ways.
This is simply because Facebook itself has a wide range of things users can do within the platform compared to other social media sites/apps.
The above are of course generalizations, and while these platforms all have their advantages in the advertising space, none of them offer the variety of options that Facebook grants either in user experience or in paid advertising.
First, the platform contains numerous options for ad presentation. The advertiser can boost a post, share text, images, videos, a carousel, and more. You can even create multiple ad options to show for different placements.
Second, there are a number of placement options to go along with the varied presentation styles. Ads can be placed in the news feed, messenger, Facebook stories, searches, the marketplace, and even Instagram.
You can also set these ads up with many different objectives such as brand awareness, page likes, lead generation, website clicks, etc.
Since Facebook contains so much data tracking, this actually works to your advantage in marketing. In addition to the standard tools for tracking ad performance, Facebook allows their advertisers special tools like the Pixel to track people who interact with their ad.
Pixel is a code you embed into your website that collects date on conversions from ads so you can build audiences, remarket, and optimize future campaigns.
In other social media advertising platforms you can only share specific types of ads such as image posts on Instagram, sponsored content on LinkedIn, stories, or various types of messaging ads. On Facebook, you can utilize almost all of these in one place.
3. Facebook Ads are also highly targetable
This is not unique to Facebook, but does make it an advantageous strategy for businesses over something like Google Ads.
On Google Ads, you're tapping into the power of Google's algorithm to get visibility in searches related to what you sell- but only in those searches. That can still be a wide audience depending on the area you sell within, but it's still not the same as what Facebook offers.
With Facebook, and other social media, you can target your ad to people based on demographics, interests, activity, and more whether they're actively searching for you or not.
That's incredibly powerful, because it allows you to reach a wider audience. Now you see why the efficiency of Facebook ads is so important. With Google Ads, you could spend $1.72 per click and make only 50 impressions, but with Facebook you can spend $0.97 per click and make 1,000 impressions or more just in a few days.
The targeting ability of Facebook ads, combined with the price, and versatility makes the platform a great place for businesses to earn strong ROI.
Of course, with much power comes much responsibility. Facebook Ads, like any paid ad campaign, are not always easy to create or manage especially since business owners wear a lot of different hats day to day.
The good news is that many digital marketers are quite skilled at all the aspects of managing social media marketing campaigns- including me!
If you'd like to learn more about getting started with Facebook Ads, give me a call or submit your information.