If you think that Facebook advertising isn’t an effective way to promote your brand and reach profitable new customers, then think again! Here are some statistics that will open your eyes and change your mind:
There are four key reasons why a growing number of businesses are taking advantage of Facebook advertising. These are: customization, affordability, control and results.
Unlike generic one-size-fits all ads that usually fail to get noticed, with Facebook advertising your business can customize a strategy based on your specific goals, objectives and marketplace dynamics. For example, you can micro-target your ads based on demographics, location, behaviors, and lookalike audiences (more on this below).
It wouldn’t matter how many people use Facebook advertising if it was pricey or cost prohibitive. Fortunately, this isn’t the case! Facebook advertising is easily affordable, and far cheaper than conventional marketing. For example, the average cost per click of Facebook ads in the U.S. in Q4 2016 was just $0.26.
With Facebook advertising you have full budget control. You can create a daily budget that specifies how much you want to spend on an set or campaign each day, or you can create a lifetime budget that specifies how much you want to spend on an ad set or campaign over its lifespan. Plus, you can duplicate an existing ad set or campaign, change the budget type (and amount if desired), and create a new ad set or campaign.
Of course, all of the above is meaningless if you don’t generate ROI and get results! Facebook understands this, and provides regular updates and insights on how ads and campaigns are performing.
A lookalike audience is a group of potential customers that share similarities with your current customers, such as their location, age range, gender, occupation, and so on. Lookalike audiences are based on source audience data that you provide (pixel data, mobile app data, or Facebook page fan data), and you can also select the size of your lookalike audience — the smaller the size, the greater the similarities with your current customers.
Ultimately, lookalike audiences are a great way to extend your reach, but without having to spend thousands of dollars and months of time on market research or outreach awareness campaigns. In fact, creating lookalike audiences is free to registered Facebook advertisers, and takes anywhere from 1-6 hours to compile (you don’t have to do anything — you just click submit and Facebook does the rest!).
Regardless of whether you sell professional services or retail products — or anything else on the business landscape — the fact is that Facebook advertising should be part of your overall digital marketing strategy.
Indeed, the platform may have started out as an informal way for individuals to exchange ideas (and debate the finer points of Star Trek and Star Wars!), but today Facebook is a communication and advertising giant used by everyone from Visa, Cisco and McDonald’s, to startups that launched this morning and dream of becoming a multi-billion dollar “unicorn” one day in the future. While Facebook advertising isn’t a magic wand that will definitely make that happen, it can certainly be part of the success story!
To learn more about reaping the rewards of Facebook advertising for your business, contact Noble Webworks today. We will work with you to define your target audiences and buyer personas, and manage all aspects of your campaigns — from creating and launching ads, to providing you with regular reports to monitor performance and verify ROI. Your consultation with us is free.