The explosion of the internet has caused many changes, one of them being the addition of social media advertisements and the domino effect it created. Ever since the rise of social media, the advertising industry as we knew it, changed forever. Before, when newspapers, billboards, radio and TV advertisements were the best way to market your business and get your brand out, you never had to wonder if there was another incredible way to advertise. We never dreamed that there would be an option that was so opportunistic, cost-effective, and simple that comparatively, it would be a gold mine.
Today, there are an overwhelming amount of options, but one option that is impossible to ignore and should not be ignored is advertising through Facebook. Since the development and ad monetization of Facebook, it has grown to become the number one social media advertising option in the world. Only 10% of Facebook users are in the United States or Canada, but 47.8% of ad revenue comes from the U.S and Canada. That means that advertisers are putting half their ad cost into 10% of the social media market. Take those products and distribute them globally, and you have untapped potential. The ability to advertise to millions is now easily accessible.
Here are five reasons that Facebook advertising is your business game-changer.
1. Facebook advertising has the largest audience
Facebook is the third most visited website on the internet, outranked by Google and YouTube. This makes it the number one most visited social media site online with 2.41 billion monthly active users. Talk about a large market audience! According to eMarketer, users spend an average of 38 minutes a day on Facebook. Against the normal assumption, many use it for more than mindless scrolling. Facebook users shop and connect to community groups and use the platform to get their daily news. In fact, according to Pew Research, Facebook is a dominant social media news source, with 52% of Americans utilizing it as their primary means of information. That’s up from 43% in 2018. Using Facebook’s platform as your company’s vehicle to make announcements, launch campaigns, and collaborate is the way to go.
2. Facebook advertising audience targeting is unbeatable
Facebook analytics are fantastic. No other online platform allows you to target such a specific and expansive audience outreach. Unlike Google Ads and website SEO, where you advertise based on people’s search results, Facebook provides the ability to target your audience’s demographics, jobs, interests, and more. A couple of the most powerful, yet often unknown targeting strategies are tapping into recent purchase behavior and creating “lookalike” audiences. Organic outreach alone, unfortunately, is not enough anymore. You used to be able to post from your business page with the hopes of engaging your customers for free, but this is virtually non-existent now. Facebook restricts the visibility of businesses’ unpaid posts to reach their customer’s news feed, but all is not lost.
3. Facebook advertising is one of the most cost-effective platforms
One great feature in using Facebook advertising besides unlimited audience options and specific targeting abilities is the low cost. Facebook advertising is measurable. You can see the number of clicks, visits, conversions, and ROI received and can advertise from $1 to well over $100,000 per month. The amount that you invest in Facebook ads corresponds to the number of people reached. $5 can reach over 1,000 people, but you have to know what you are doing.
It takes experience and knowledge, and it is very easy to pay high prices for ads and not see conversions. We highly recommend that you hire an advertising service or specialist. Costs to hire a trained and skilled advertising manager can range between $400-$1,500 depending on the work involved. It makes it therefore much more cost-effective to hire a professional service provider like Eleven34 Media over hiring an employee. Fortunately for business owners, Facebook, as a social media marketing platform, produces the highest ROI of all the other social media sites.
4. Facebook advertising retargeting creates conversions
Another great way to connect with customers is through retargeting. This reconnects previous visitors from your website, mobile app, or email they gave to you. People are more likely to reengage a site once they have experience with. They are much more likely to start a free trial and make a purchase. Retargeting (or remarketing) can be your most powerful tool. You are able to reach and convert more people who were already interested but just hadn’t made the leap yet. Facebook advertising offers the ability to retarget your audience several times throughout the day, the week, or the month and, in the process, create amazing brand awareness. They will see and know your brand because of your consistent faithfulness and encouraging nudge that creates action.
5. Facebook advertising gives you an edge on your competition
Surprisingly, many companies have not taken hold of the opportunity to advertise via Facebook. It may be because businesses are unaware of its amazing benefits and incredible ROI rate or because they are not doing it correctly. In either case, Facebook advertising gives your company the advantage, putting you right in the middle of the best fishing hole while others wade in the shallow end. Competition has never been higher, but the opportunity has never been greater. By capturing your audience’s attention, increasing your brand awareness, and connecting with your customers, you can attain new leads and loyal customers who may have otherwise gone to your competitor.
Now is the time! Start today!