How Effective is Facebook Advertising?
Online advertisers are always looking for new, cost-effective ways to market to their audience but just how effective is Facebook advertising?
Since 2004, Facebook has been the leading social media platform with almost three billion people using it monthly. Advertising on Facebook began in 2007 and has continued to evolve since. Many things have changed over the years as far as functionality, mobile vs. desktop templates, and cost, but do Facebook ads work effectively? Let us look at the pros, cons, and some other valuable bits of information to find out.
The Pros and Cons Of Marketing Your Business On FB
As mentioned above, Facebook Ads has been up and running since 2007. Over the years, it has moved and flexed with the times – adding new features, adjusting algorithms, and the like, but what are the best things about Facebook ads? What does not work so well? Here is what we found:
PROS OF FACEBOOK ADS
- Ad Placement: Facebook ads allow users to select from several ad placements in order to better reach the target audience. Currently, advertisers can choose from seven distinct kinds, or you can allow Facebook to place it for you through the “automatic placement” option.
- Audience targeting: this might be the best reason to use Facebook ads as it allows users to hone in on exactly who they would like to target for their ad. Marketers can even decide who you don’t want to see the ad either, which is also very helpful. Users can also create custom audiences to save for later use.
- Analytics: tracking how effective an ad is begins with analytics. Facebook ads provide a plethora of data showing post engagement, click throughs, and conversion rates. All these factors will aid in judging how effective the ad is or what can be changed to make it better.
- Paying for reach: Yes, advertisers have the ability to pay to reach more people with their ads. Organic reach was stronger prior to 2021 but that is on longer the case.
- By the numbers: One of the reasons Facebook has been so successful over the years is the sheer volume of users they have. Nearly 37% of the world’s population uses Facebook at least once a month, 1.6 billion people use it every day. In 2012, Facebook bought Instagram. Why is this important? Marketers can advertise to both platforms through the Facebook ads center with their advertisements. So, add Instagram’s over two billion active monthly users and the over five hundred million daily users to Facebook’s users and you have a huge “captive” audience to advertise to. If we are going by the numbers alone, Facebook would be an excellent place to advertise.
CONS OF FACEBOOK ADS
- Costs are going up: Competition has caused advertising costs to increase on Facebook however, it is still cheap compared to other venues – provided all of the analytic tools are leveraged.
- Learning curve: While there are many great tools to use in the Facebook ads platform, learning how to use them effectively can take some time or even some trial and error. For sole proprietors or those new to the ad system, this could be a deal breaker.
- User support: The ad center customer support service is not as strong as it should be. This is something to keep in mind, especially if you are a new user. There is no phone number to call and support tickets are often not handled in a timely manner.
There are many excellent reasons to use Facebook ads for effective advertising but also a few drawbacks. All these things considered, is it going to be worth investing in?
Return On Investment With Facebook Ads
Let us get to the point – is the return on investment worth the cost of advertising on Facebook?
According to HubSpot’s state of marketing report from 2021, it was reported that 40% of businesses generated their highest return on investment (ROI) from Facebook ads. 30% reported the same about their Instagram ads. These statistics are huge. It shows that one out of three businesses listed Facebook ads as their best performing marketing strategy. According to the report, these numbers came in ahead of both LinkedIn ads and Google Paid Search as well. In short, many businesses felt that the return on their investment justified what they spent.
While these statistics are encouraging, they did not happen on their own or overnight. Truly effective Facebook advertising requires creating a strategy and connecting with the right marketing agency such as Bizmap LLC. Bizmap offers social media marketing services, SEO services, web design and Google Ads. They can help you with all of your online marketing needs – especially with FB advertising.
Have a Plan For Marketing Your Services On FB
The Facebook ads will only be as successful as the strategy in place. For some, this may mean hiring a marketer to manage the work but for others it means being specific about who you want to reach, how much you want to spend, and then creating an attractive, engaging ad to bring in the audience.
Each business will have their own goals in mind as far as who and how they want to reach their customers, but the overarching theme for all businesses is to approach Facebook ads as you would any other marketing venue. Take the time to create a marketing plan. Be intentional, learn the analytics, and continue to improve your ads so the ROI is profitable for you.
PRO TIP: Learn more about Bizmap’s marketing services or give us a call!
CONCLUSION: How Effective is Facebook Advertising?
So, is Facebook advertising worth it? In short, yes, it is. The sheer size of the audience alone is one reason that businesses should use Facebook ads in their marketing plan however the customizability of the ads as well as the ability to target a specific audience also make this platform well worth the money. Yes, there are a couple of hang ups regarding user friendliness and customer support, but they do not outweigh the positives.
The user controls how well an ad will do on Facebook. The onus is on the advertiser to create an ad that people engage and interact with, where to place it, and how much to invest in it. Facebook itself provides the structure, but the user is the one who drives the vehicle. So, in truth, we should really be asking the users themselves just “how effective is Facebook advertising?”