Facebook is now one of the most popular marketing platforms on the planet. As the social giant has grown to more than 2.7 billion active users, it’s also expanded its advertising network to suit a wide range of businesses.
Now a ton of the benefits of advertising on Facebook are obvious, but paid advertising does come with a lot of complexities. It’s important to understand what Facebook offers businesses and how its paid ad network is built to offer a bunch of advertising options before you can see how it might help you reach new audiences.
So we’ve written this blog to help you understand – and take advantage of – Facebook’s advertising benefits.
Facebook’s market share for digital advertising is close to 20%, making it one if the single largest options for advertising, behind only Google. Plus the 2020 corona virus pandemic has given digital advertising some unexpected swings, Facebook’s Q2 revenue is well past $18 billion, an 11% increase over 2019! And average ad costs are lower than last year as well. As the world adjusts to decreased store traffic and lower brick-and-mortar results it only makes sense to consider the benefits of Facebook advertising for your business. Online-first companies and eCommerce are set to become the norm for businesses and the advantages of Facebook advertising over its competitors make it a good option.
Facebook’s advertising model functions on the ubiquitous “pay-per-click” model which has become the single biggest system for internet advertising. The reasons why PPC is important are also the same benefits of Facebook advertising: it’s affordable, effective, and fast.
1. Micro-target your exact audiences
Social media advertising for most platforms means giving advertisers the ability to focus ads towards their own target audiences using data from users – and Facebook is no different. In fact one of the main benefits of advertising on Facebook is that the platform is very data rich. You can micro-target the audiences that are best for your business.
Facebook has a meticulous level of detail that lets you narrow down the demographic for every ad you run. Businesses can create ads to narrow down their target audiences for segments
2. It has the highest retail ROAS for any social platform
Marketers and business owners might wonder, “do Facebook ads really work?” They definitely do.
Wolfgang Digital’s 2020 KPI report claims that Facebook’s user feeds ads are the single best performing ad type for eCommerce. In fact, Facebook is dominating with its Facebook Feed, Messenger, and Marketplace ad types all taking the top spots. Plus, according to Statista, 41% of surveyed marketers claimed that Facebook gave them the best ROAS, putting it at the top of the most popular social media sites for marketing.
3. Better ad types for your business needs
There are multiple types of ads to choose from for Facebook business advertising:
Photo – These are static single images, plus a caption.
4. They can be affordable and low cost (you set your own budget)
The cost of running ads on Facebook is determine by a lot of factors (your budget, your ad types, industry, etc.) but generally marketers should expect to pay anywhere from a few cents to a couple dollars per click.
5. Facebook ads can give results very fast
Facebook business ads are ideal for brands that are looking to run both short-term and long-term digital marketing strategies – since they can start providing revenue/conversion as soon as they go live. But they’re best for fast results.
Once ad campaigns are set up in the Ads Manager, are reviewed by Facebook, and once they go live, they start working immediately and begin showing your brand/products to potentially thousands of people instantly. Ads are normally approved within 24 hours, so the Facebook advertising benefits come from giving businesses a way to start getting sales within a couple days.
6. Facebook ads remarketing
Remarketing means advertising to audiences or visitors that have already previously interacted with your brand or expressed interest in your business. Usually done through cookies/session tracking.
One of the benefits of Facebook advertising for your business is that you can use this strategy to increase revenue, boost conversion rates or get better ROAS.
This strategy works using the “Facebook pixel” – a small snippet of code that you post in your site to help target customers and visitors. It tracks people, along with the types of actions they take on your site like any Facebook ads they viewed before visiting, pages they visit, add-to-cart actions, and more. Plus Facebook advertising benefits businesses by giving them the option to include “dynamic ads” that they can create to specifically target remarketed shoppers.
7. You reach more people than with just organic social media
This is another reason why advertising on Facebook is worthwhile. Because businesses will reach more people than with just their organic social media marketing. And they’ll be able to expand the reach of their existing content both on-platform and off.
Paid advertising and organic advertising aren’t exclusive though, you can do both! And with ad types specifically designed for engagement, signups, or followings, paid-ads can actually improve your organic traffic as well. And they’ll do it faster – one of the key benefits of Facebook advertising. Paid ads get better engagement, far greater impressions, and more conversions. This means your content gets more views.