There is an endless number of ways to advertise your business, whether it be through commercials, SEO, email-marketing, cold-calling, or even giveaways, the options are substantial. It is up to you to determine which methods to dedicate your valuable time in hopes of the betterment of your business. One method that cannot be ignored is Facebook paid media. Here’s why:
1. Who isn’t on Facebook?
With over 2.7 billion monthly active users as of the second quarter of 2020, Facebook is the biggest social network worldwide. We can assure you that your target audience is on Facebook and the opportunity to connect with them in such an easy manner is something that cannot be overlooked.
Just to get an idea of how popular each social media platform is, here is a list of the monthly active users (in millions) as of July 2020 (Statista). As you can see, Facebook leads the way.
2. Facebook Ad Campaigns are Easily Customizable
Facebook offers various different goals or ad objectives you can choose from. Within each category, you can customize things such as ad design, copy, landing pages, and a few other things that may help you differentiate an advertisement. Once paired with Facebooks’ advanced targeting abilities, your ad has the potential to help your business reach new heights.
Currently, the eight goals pictured are offered, however, Facebook is constantly updating and optimizing their Ad Center so if something is not offered that you want, keep an eye on it as it could be implemented in due time.
3. Facebook’s Targeting Abilities are Top Notch
We just mentioned that your target audience is definitely on Facebook; the social giants’ elite targeting abilities are great for finding them. Whether it be by interests, behaviours, connections, demographics, locations, languages, age, or any other specific nuances, there is a way to target it using the numerous tools Facebook has to offer.
4. Facebook’s Ads are Cost-Efficient
When comparing the time invested in creating organic content for your page and the lack of results it renders, it will be made clear that paying for ads is a better use of your valuable hours. Facebook is not like it used to be, the algorithm always leans toward prioritizing users’ feeds based on past behaviour and paid content rather than organic. On average, roughly 2% of your followers will see your organic posts (CITE).
When comparing the average costs to reach 1000 people through various advertising methods, the results are staggering:
It is clear to see that the cost-effectiveness of Facebook’s paid media is unmatched.
5. Life Event Targeting
If you use Facebook you have undoubtedly seen life event updates from friends of yours. Whether it be expecting a child, marriage, anniversaries, travelling, etc., there is ample opportunity for specific targeting. This creates the opportunity to invite customers to celebrate an anniversary at your restaurant or hotel. If you own a jewelry store you could target women near Valentine’s day or birthdays, the opportunities are endless.
6. Lookalike Audiences
A Lookalike Audience is a way to reach new people who are likely to be interested in your business because they’re similar to your best existing customers. This custom audience can be created using information pulled from your pixel (your website’s visitors’ actions), mobile app download information, or fans of your page. Variables such as demographics or interests are identified and Facebook delivers an audience of people similar to them. Another cool feature is that you can create up to 500 Lookalike Audiences from a single source audience. This is great if you want an even more personalized experience.
To create a Facebook Lookalike Audience, follow these simple steps:
- Go to your Audiences
- Click the Create Audience dropdown and choose Lookalike Audience
- Choose your source
The higher the data sample size, the more likely your Lookalike Audience will effectively find leads, so ensure you have enough information on current customers before jumping in.
A Message From Newfound Marketing
Join Marketing Masterminds
Want to connect with other like-minded folks who work in and around the marketing world? Our Facebook Group is the perfect place to ask your question, hear the latest news, and get inspired.
Join Newfound Marketing Masterminds
A paid media strategy is majorly important to any business. Facebook’s paid media offers a great opportunity that cannot be overlooked. The increase in brand reach and awareness alone is enough to implement a paid strategy. This, combined with a solid organic strategy that will increase your online reputation, are crucial aspects of managing social media that will translate into results for your business sooner rather than later.
What are you waiting for?
For more information, check out our beginners guide to Facebook ads.
If you’re new to Facebook, great news, we have a guide on how to get your first 500 Facebook fans.
Need further assistance? We are professionals in Social Media Marketing and would love to help you out. Check out our various social media marketing services!