That’s great news for businesses that are looking to advertise on the social platform in order to gain more views, likes, visits, and sales.
Not convinced? Well, seeing as the platform has over 2 billion monthly visitors, it’s a pretty great way to market to any target audience or customer base you’re trying to reach.
You’ll need to know how to effectively utilize Facebook ads to really take advantage of the power behind this platform, but here are some of the biggest reasons why you should advertise on Facebook in the first place.
You’re Targeting People Where They Are
68% of Americans use Facebook, and they visit the social media platform at least once daily. That’s more than the number of people who read a physical newspaper each day.
Marketing has changed over the years, and experts recommend marketing on platforms where your target audience frequently visits.
Simply put, you want to target your audience wherever they spend most of their time. This is what makes marketing on Facebook such a great idea.
Not only does the platform provide businesses of all sizes the opportunity to run campaigns for whatever kind of budget they have, but it provides them with helpful insights into how and when to reach their ideal customer.
This means that if you know that your target audience contains women who are over 30 years-old that live in rural areas, Facebook allows you to target them when they’re most likely to be online.
That level of optimization and customization is something that other marketing platforms don’t offer small to mid-sized businesses.
It’s what sets Facebook apart from other digital marketing trends, particularly for smaller businesses or individuals selling goods and services.
Facebook Ads Are Cheap
Comparatively speaking, Facebook lead ads are pretty cheap. As mentioned above, you can set your budget to whatever you want it to be.
This means that if you only want to spend $2 per day on your campaign, you can do so!
This is perhaps one of the biggest benefits of Facebook advertising.
In the past, a small business would have to contact a marketing agency and either pay for an advertising retainer or pay for a larger marketing package that didn’t directly fit into their budget.
And, chances are that the campaign wasn’t as targeted as Facebook ads are.
One expert even did the math and found that Facebook is by far the cheapest marketing platform compared to all other outlets both on and offline.
The cost to reach 100 people via newspaper was $32 compared to the $0.25 that it costs with Facebook ads.
You Can Create Highly Targeted Content
To succeed in today’s business landscape, you have to really know and understand your target audience. It’s also likely that you’ll need to be operating in a niche industry and selling to a very specific, niche audience.
Facebook business marketing is great for this because it’s one of the only platforms, aside from pay-per-click marketing, that allows you to create highly targeted marketing campaigns.
Why advertise on Facebook? You can target users according to things like:
- Marital Status
- Online Behaviors
- College Major
The list goes on. The more specific you get, the more likely you are to find and attract users that actually have an interest in your company and what you’re offering.
This leads to a higher return on investment (ROI), as it ensures that you’re not wasting your advertising money by getting in front of the wrong people.
With Facebook ads, you’re creating highly-targeted content that is only people who fit your ideal customer profile are going to see.
Facebook Ads Are Easy to Measure
One of the biggest pain points of digital marketing for businesses is the ability to measure their efforts.
Tracking analytics is a huge part of effective marketing. If you can’t see what you’re doing right and wrong, you don’t know how to optimize your marketing strategies to see greater success.
This is one of the best parts of Facebook’s advertising function. The results are measurable and the numbers speak for themselves.
The platform allows you to track metrics such as:
The “Cost Per” metric will show you how much you paid for each action according to the objective you set. When you create a campaign, Facebook is great at guiding you through the process.
Be sure to set the objective correctly. If you want to track conversions, then make this the objective. If you set it to clicks then you won’t get as accurate results from the analytics.
BigCommerce notes that the 7 must-measure Facebook metrics are:
- Clickthrough Rate
- Cost Per Click
- Conversion Rate
- Cost Per Action
- Return on Ad Spend (ROAS)
- Lifetime Value
Lucky for you, Facebook makes it incredibly easy to track these metrics. Simply access your Facebook Ads Manager and view the statistics for each campaign.
Better yet, connect your Google Analytics account and access even more insightful data to help you grow and optimize your marketing strategy over time!
Incorporating Other Marketing Methods
Advertising on Facebook offers many benefits to businesses of all sizes. From the ability to create highly-targeted campaigns to the ability to easily track the results of each campaign, Facebook’s advertising function is robust and easy-to-use.
While Facebook ads are a cost-effective way to target your ideal customer base, there are other ways that you can use social media marketing to your benefit.
Instagram, Twitter, LinkedIn, and other social media platforms offer similar online marketing functions for businesses of all sizes.
While the amount you spend on each ad and the ROI won’t be quite the same as it is with Facebook, they’re worth checking out.
Take a look at our guide to Instagram influencer marketing to see how your business can benefit from this other form of social media marketing.