Facebook Advertising: Why You Should Use it to Grow Your Business
- 6 min read
- Karla Sambolić
While most people use Facebook for personal needs, it’s inevitable that they will be exposed to and engage with various ads they also see in their newsfeed. And if you’re a business owner looking to get leads and customers Facebook is one of the places you should start looking.
Facebook allows you to reach million of potential customers, and it’s always growing. Latest data puts average monthly users at more than 2 billion.
That’s a lot of potential customers. Of course, not all these people are interested in your products or services, but by using Facebook’s advanced targeting algorithms, you can reach a very specific audience already interested in what you have to offer. I’ll talk about that in a bit.
For now let’s define what advertising on Facebook really is:
Facebook advertising is the process of paying to place promotions and product offers in the news feed of a specific, targeted audience on Facebook.
Let’s take a look at what marketers who are already using Facebook have to say. According to a study by eMarketer, 96% of social media marketers consider Facebook to be the most effective social marketing platform in terms of return on investment (ROI). In fact, Facebook dwarfs other platforms by a wide margin.
Businesses are constantly investing in social media advertising and achieving amazing results. Some companies have achieved up to 5x increase in marketing results after advertising on Facebook.
Another reason for its popularity is the fact that Facebook advertising methods allow small companies to compete with larger businesses. It’s not all about how large your budget is - it’s about how well are you utilizing all the tools at your disposal.
If you’re thinking about joining the ranks of all those businesses that use Facebook to fuel their growth and increase their revenue, I’ll show you how to do it.
Why advertise on Facebook?Facebook is a great platform to grow your business. I’ll now talk about specific five reasons why you should start advertising on Facebook and explain them in detail.
Here they are:
- Enormous reach and the ability to reach a specific audience
- Low costs
- Simple and fast to start
- Lots of advertising options
1. Enormous reach and the ability to target a specific audience.Like I’ve said, through Facebook you can easily reach billions of people. However, only a small fraction of those people are interested in your products or services.
And it’s not prudent to advertise to general audience if you have a specific product only certain people will buy. You could end up wasting your budget quickly.
What’s great about Facebook is that it enables you to define and target your preferred audience to the smallest detail. Facebook advertising allows you serve your audience targeted ads based on their location, age, interests, income levels, connections, what they like on Facebook and so on.
There are dozens of parameters you can include when defining your audience, and Facebook helps you with recommendations.
This kind of highly-focused targeting enables you to get more conversions at a lower cost, compared to other advertising methods (since you don’t waste your money needlessly on a wrong audience).
2. Low costsCompared to other online paid advertising channels like Google AdWords, Facebook ads come at a fraction of a price, with a minimum of $1 per day. Facebook advertising is especially cost effective when you use its advanced targeting options.
Average CPC on Facebook is about $0.35 globally. That means that you will pay around $1 for three clicks on your ad – and the people who click are already most likely to buy, if you’ve created your audience correctly. It’s easy to see why Facebook ads have such high ROI.
3. Simple and fast to startYou probably already have a personal Facebook account. If you’re a business owner you most likely have also set up your Facebook Business Page. So when you start advertising on Facebook you will already be familiar with the interface.
You can create your first campaign and ads in matter of hours, and start seeing first results in a day or two. And the best thing is you don’t need a huge budget – you can start with a small budget and slowly increase it as you earn more revenue from your ads.
Managing your ad campaign is really easy by using Facebook Ads Manager or Power Editor. Power editor is a bit more complicated and it offers more options, but you can manage your campaigns through Ads Manager with only a few clicks.
4. Lots of advertising optionsOne of the biggest benefits Facebook has over other platforms is the fact that is offers a lot of advertising options you can use to reach your audience.
You can start by creating classic FB text ads, use promotional videos or Instagram stories to name a few. In 2017 alone, Facebook has added so many features it’s getting hard to keep track of them all: Messenger Day, Live Video updates, improved ad reporting etc. You can choose one of them to advertise to your audience, or better yet, combine several types of ads for maximum effect.
How to start?I have talked about how Facebook is the leading platform in social media advertising, and explained the main benefits you can get from Facebook advertising. Low costs, great audience reach, simplicity…all these things make Facebook a great place to advertise your business and get results, fast.
There are two ways you can start advertising on Facebook: you can try creating your ad campaigns, measure results and try out different things, learning and struggling as you go on. Or, you can hire a marketing agency to devise your Facebook marketing campaign, set it up and deliver the results to you.
This way you can see your business grow while you focus on other things. The choice is yours, but either way, Facebook advertising is a good way to grow your business.
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