Have you been using Facebook to advertise? If not, there’s a high chance you could be missing out. As a marketer, we know that it’s easy to get lost in the noise that is social media; whether it’s email marketing, paid social marketing, search engine marketing, search engine optimisation or any other form of internet marketing that’s out there.
Still, the reality is that you cannot do all that there is to do when it comes to marketing. You have to find the channels that work for you and put all your effort and energy into those. The truth is, if you put your heart and soul into getting those channels to work for you and not just some few minutes, then chances of you seeing positive results are very high. Just as you may not be everyone’s cup of coffee but someone else’s cup of tea; so is social media. What works for you may not work for your friend’s business or brand.
That said, social media has and continues to revolutionise the modern-day society. Of course, this isn’t news. An average person spends about three hours daily on the internet with almost three-quarters of it on social media channels. Just the same way you check your Facebook, Twitter and Instagram feeds several times a day is the same way your customers do.
The above isn’t a free pass for you to go spending money on all the available social media channels. One social media network marketers can’t ignore or do without is Facebook. 96 percent of social media marketers surveyed said that Facebook marketing gave them the best return on investment compared to other paid social media channels.
Why Should You Be Advertising on Facebook?
A social network that 96 percent of marketers agree on is definitely something that you shouldn’t be missing out on. Moreover, when it comes to marketing, Facebook still takes the crown and for very valid reasons.
Building your brand and creating the need for your products has never been cheap. If you really need your business to grow, then there is just no way you that you aren’t advertising on Facebook. Here is why Facebook advertising can not not be part of your marketing strategy.
Your audience awaits on Facebook
As of 2017, Facebook’s population grew to more than two billion users. Simply put, in any given year since its launch in 2004, Facebook registers over 150 million users which translate to over 400,000 newly registered users a day globally.
These statistics simply mean that your audience is on Facebook and from the advertising opportunities made available by Facebook for businesses, all you need is the right content for your audience.
However, what is more, interesting is that on any given month, there are over one billion people who are able to see adverts through Facebook’s Audience Network. If you are to add this to the number of users seeing the adverts through their Facebook and Instagram newsfeeds accounts, you will begin to get a rough idea of the reach that Facebook advertising has for your brand. On top of that, Facebook ads get more than 22 billion clicks per year.
With a monthly user base of 1.6 billion people, the average time spent by any one person on Facebook, Messenger, and Instagram every single day is 50 minutes. That’s way higher than on any other social media platform. If your ads have great attractive content, there is no way that your audience will fail to see it. Moreover, you can easily customise your target audience on Facebook based on their demographics and psychographics.
Take time and find your audience on Facebook and we can guarantee you that you’ll get the best return on investment for your business. If you don’t believe us, believe the statistics. Data never lies.
People spend a lot of time on Facebook
Facebook is like that cool joint that you and your friends love to hang out at telling stories, sharing jokes and talking about what you like or love. In fact, we can clearly say that Facebook is many people’s bae and you know for a fact that you can’t ignore bae.
As mentioned earlier, an average person spends about 50 minutes on Facebook owned social media platforms liking and sharing content.
Every 60 seconds, users on the Facebook platform will like and share about 4.1 million posts. This is where your customers are and those posts that are being liked and shared every minute, could be your business’ posts. Every second on Facebook, five new profiles are being created. Every 60 seconds, there are 136,000 photo uploads, 293,000 status updates and 510,000 comments made. These figures translate to a whopping 1.3 billion daily active users. The irony? With all the said data, there are only 3 million active advertisers on Facebook.
There are over 50 million registered business accounts on Facebook. With all the tools made available for businesses, it simply means that either business aren’t taking full advantage of what is out there for them or they simply have no clue of the potential Facebook advertising has for their brands or products.
There is a whole lot of opportunity. You just need to go out there – on Facebook – find it and make use of it.
Facebook’s targeting options
You want to target that high school nerd that’s googling courses and universities within their locality? Facebook can help you reach him. Looking to advertise your newly launched plus size clothing line to the beautiful curvaceous women that would rock every single inch of that? Facebook’s got you. What of that gym you recently opened and want to increase membership and target people in your locality? Of course, Facebook will sort you out.
Unlike Google AdWords where users are targeted with what they search for, Facebook ads give you the freedom of targeting users not only based on their demographics, but with their interests and behaviours too.
It’s no longer a secret that social media platforms curate a lot of information about their users. For example, have you ever looked up a product on your search engine and the next minute when you are scrolling through your newsfeed on Facebook you see ads from that same company or product? You have? Yes? Exactly. That’ what we are talking about. Although it seems creepy, social media platforms study the trends of their users, e.g., the pages you like, the shows you list as your favourite, your food interests among others. This info is gold to marketers as they are able to define their audience and spend money focusing on them easily.
Want to target Obama or the 35-year old France president? How about you have a go at that? You can never get your marketing wrong if you have a defined audience that you pour money into.
You don’t need investors to afford Facebook ads. We know how costly advertising can be especially if your business is just starting out and you have little to no spending capital.
Most startups want to launch with a bang. Billboards here and there, TV and radio ads and newspaper ads. We all know how expensive this can be. What they fail to realise most of the times is that their audience is online and is waiting for them to reach out. Take the US for example, placing a billboard -depending on the State, size, and location – could cost anything from $1000 going upwards.
Yet, the minimum one can spend on Facebook advertising is $1 a day. Your $1 can reach thousands of people whom you will have targeted based on your own criteria. Neither Google AdWords nor the billboards can give you that kind of result. Facebook is definitely affordable as it allows you to spend what you have without worrying too much about your budget. Facebook has several available bid types. All you need to do is choose the type of bid that works for you.
Currently, Facebook has four different types of bids that you can choose from:
- Cost per click (CPC)
We understand that you do not want to spend money on ads that no one will click on. Facebook’s cost per click bid allows you to only pay for the ads that users click on. With such a plan, all you need to worry about is creating content that will attract users to click on your ads.
- Cost per action (CPA)
If you want to increase your page like or for people to visit your website, then the cost per action bid will perfectly blend with your needs.
- Cost per mile (CPM)
This is ideally suitable for people who want to build their brand and create awareness or increase exposure. With this, you are able to bid per a thousand impressions or likes.
- Optimized cost per mile (oCPM)
Basically, this is where Facebook makes your ad visible to people whom they believe will take action once they see your ad.
Getting the most out of any campaign is, of course, the key to any brand. With this in mind, it’s advisable that you choose the most suitable option that will work for you. As said earlier, find what will work for your brand.
Easily track on your ad spending and ROI
When you invest in anything, you will of course, for a fact, want to be able to see the return on investment.
It’s quite hard calculating the return on investment from radio, newspaper, billboard and TV ads. On the other hand, with Facebook advertising, you’re able to see and compare what you’ve spent on the results you got. Facebook’s analytical tools can help with all these thus making your life easier.
The Facebook Adverts Manager tool allows you to track your campaigns performance based on various metrics that are available. This way, you are not only privy to which campaigns worked and which ones didn’t but you also able to see the ROI. So, what kind of information does this Facebook tool provide you with:
- Impression (the complete number of times that your ads were shown), frequency (total number of times that the ad was shown) and reach (full number of people who were able to see your ad)
- The kind of engagement your ad got – this looks at the likes, comments, shares and clicks your ad got
- Data on the cost of your ad which includes the average Cost per Conversion, Cost per Click and Cost per Like. These is based on the tracking goals you had set.
Being able to track your spending and measure your return on investment s pretty useful when it comes to making future campaign decisions. Data from the Facebook Adverts Manager tool helps you to understand better your audience and what they are more interested in.
Set the pace
There are over 7.4 billion people in the world. Statistics show that out of the 7.4 billion, 3 billion people are employed. The number of registered businesses on Facebook is over 50 million.
This means that there could be more than 80 million businesses in different parts of the world. Research shows that there’s only about 81 percent of businesses that are using social media for marketing. 19 percent of businesses aren’t. Your competitors might be part of the 19 percent that aren’t using Facebook to market. This gives your business a competitive edge against your competitors as you’re able to reach a wider audience.
By getting the attention of users on Facebook, you can easily build your brand, create awareness and engage with your audience. All these can help you in lead, sales and revenue generation.
There are so many features that Facebook develops every month that it’s becoming almost impossible to keep up with them.
Most of these features target businesses and provide tools that advertisers can use to understand their audience better or help them in creating marketing content. On average, Facebook makes about six products monthly. This means that every year, there’ll be a minimum of 70 features that are either new or improved. This makes it hard for any other social network to keep up with.
If you haven’t started marketing on Facebook, you’ll find it hard to keep up with all these tools and the new ones yet to be created.
As mentioned earlier, data never lies. You can invest your time and money on other social media networks, but your return on investment from them won’t be anywhere close to what you will get from Facebook advertising.
If you haven’t set up Facebook Advertising yet, you can do so here:
As Facebook continues to gain more and more new users each day, the faster you start advertising on Facebook, the sooner you will be able to enjoy the benefits of Facebook advertising. Don’t wait another day to get started. Today isn’t too late to start.
If you would like to discuss Facebook advertising options further or have any questions, please don’t hesitate to get in touch with us here at Serene Media.