Facebook is a large social media platform that can assist you in improving your online business performance. It allows you to promote your brand through paid advertising on both Facebook and Instagram.
The ad platform aid in increasing revenue and increasing conversion rates. It also provides an easy-to-use management tool (Meta Business Suite) and is suitable for any type of business.
Facebook ads is the key to a good marketing mix, we would say, and below are just a few of the benefits it can bring to your business.
Allows you to target a wide and appropriate audience
It’s quite obvious that you can reach a wide range of audiences quite easily through Facebook. The social media platform has become one of the world’s most popular marketing platforms over the last decade, with over 2.9 billion monthly active members.
Aside from its reach, Facebook Ads allows you to target ads to specific audiences based on its extremly rich user data.
Marketers can target specific demographics based on target audiences into the following categories: gender, age, location, spoken languages, interests, education level or history, job title, income, political affiliation, interests, behaviours and recent purchases and major life events.
Has the highest ROA (return on assets) among all social media platforms
According to the latest KPI Report (conducted in 2020 by Wolfgang Digital), no other social media platform offers a higher return on investment than Facebook. As a result, Facebook is currently the largest player in the social media market, with its Facebook Feed, Messenger, and Marketplace ads all ranking first. This is why Facebook advertising performs better than Google Ads.
There is a wide range of ad types available, according to preferences
Another advantage of advertising on Facebook for your company is that you are not limited to specific ad types or plain text ads (like you are with the search engine Pay-Per-Click). Facebook comes with a variety of ad formats available, some of which are not available on other social media platforms.
- Photos: single static photographs with a caption.
- Videos: Video ads are available in a variety of lengths and can be set to appear in user feeds or even Stories.
- Stories: Stories are customizable full-screen advertisements. They could be videos or images, and clicking on them takes the user to your website (or wherever you want the user to visit).
- Messenger: These ads appear in the middle of Facebook Messenger chats or conversations.
- Carousel: Carousel ads are made up of up to ten static images that the viewer can scroll through.
- Slideshow: These advertisements include short video clips created with animation, sound, and text.
- Collection: These advertisements feature multiple products in a single ad, each of which can be responded to separately by a visitor.
Any business (with a marketing budget) can afford to advertise its brand on Facebook. The cost of running Facebook advertisements is determined by a number of factors (your budget, ad types, industry, region, and so on), but marketers should generally expect to pay anywhere from a few cents to a couple of dollars per click. This is stricly on you and your marketing budget, there is no minimum or maximum spend for an ad, but of course results are better when you have a proper budget and a good plan.
Offers detailed and in-depth data that is easy to track and measure
The Facebook Ads Manager is a powerful tool that allows you to monitor and fine-tune the effectiveness of each ad campaign. Using their ad tools, you can see how well your ads are performing in different audience segments, as well as compare them to others on the site.
Breakdowns in Ads Manager enable businesses to investigate data such as audience age, gender, geography, device, and more, as well as ad types and user activities.
Attribution reports can help you identify the most important marketing funnel touch-points.
Ad comparison and split-testing options are available for fine-tuning marketing campaigns with modifications.
You can easily retarget your potential customers
In addition to the other advantages of Facebook advertising, Facebook remarketing is a very effective way to increase conversions. It’s a well-known fact that the majority of your buyers will not convert on their first visit.
Facebook Ads Manager makes it incredibly simple to retarget website visitors and business page followers, and it even allows you to create lookalike audiences based on demographics.
The Facebook pixel must be installed before you can begin retargeting these users.
Sources: SearchEngineJournal.com, Facebook.com/Business, LinkedIn.com/Pulse, DigitalDoughnut.com, JonLoomer.com, 10minuteschool.com, Wdc.ng.