Hardik Mody is a Digital Marketing Manager. With his experience and Expert knowledge in the field, he identifies potential customers and develops marketing campaigns.
With the number of ads you witness on your Social Media Marketing stream of posts, you’d have probably wondered about taking the same route with your digital marketing strategy. Paid social media ads have been a part of digital marketing for a long time, but many of them have doubts about whether these ads work or not? So, here we are to simplify Facebook Advertising.
For a short answer: yes, Facebook advertising works flawlessly. However, that isn’t a comprehensive answer, and we are here for the long run. We will cover the reasons that make Facebook ads powerful and answer why people sought after these ads compared to other platforms and mediums. We will look at things such as how Facebook advertising work, what makes them effective, and why are they worth the amount invested?
How does Facebook advertising work?
There are two things: paid search, which helps prospective customers to find your business, and paid social, which helps your business find prospective customers. Facebook adverting allows you to target specific audiences interested in your product and service by using their broad amount of data on their users. You can identify the type of campaign you want to run on Facebook. Once identified, you can tell Facebook to whom the ads should be displayed. Facebook’s thousands of custom audience parameters allow your ad to be shown to a specific group of people, therefore making your ad highly relevant to the audience.
What makes Facebook ads effective?
Facebook has the upper hand when it comes to the sheer number of people who use this platform. Approximately 1.5 billion people – that’s around 1/5th of the entire world’s population – are on Facebook. This huge statistic is one of the reasons why businesses flock to Facebook to advertise. No other platform has this big audience; therefore, people flock to Facebook to advertise to a huge number of people as much as possible.
Larger the audience, the more granular advertising option a business gets. Businesses can pinpoint their audience and offer them ads that are highly relevant to them. Unlike traditional advertising platforms where you advertise to a general audience, Facebook ads help you advertise to the right people and find as many people as possible for your business. This may make TV and radio ads sound obsolete!
Also, as the number of people on Facebook grows, the higher the amount of data you have on your audience grows too. You can target based on your audience’s demographics, interests, purchasing behavior, life events, etc. There is a high amount of granular control with a Facebook advertising campaign.
Another reason Facebook ads work flawlessly is that the platform adapts to the changing media consumption rapidly. People have been accessing media through their smartphones at an increasing rate, and Facebook hasn’t left themselves behind here. In fact, the number of daily active users accessing Facebook on mobile has grown 27% over last year.
Are Facebook ads worth it?
Advertisers will always be wary of the amount they are spending on advertisements on platforms with a close eye on the ROI. Fortunately, Facebook is one of the most cost-effective advertising platforms in the market. With many ad formats available, the ROI largely depends on your ad’s format. The average cost per click in Facebook ads across all industries is $1.72, which is a remarkably low amount, considering how effective Facebook ads can be.
Facebook ads are also fairly cost-effective when it comes to cost-per-action or CPA. However, CPAs vary quite widely across industries. Some sectors offer competitive CPAs than others. Education and apparels offer low CPAs, while home improvement and technology are on the higher side.
The costs of Facebook advertising have risen over the years. However, the overall costs still remain significantly lower when compared to similar metrics in PPC.
Facebook advertising is right for you! Facebook ads are very effective and work flawlessly. A large audience in the market and the ability to target them granularly makes a lot of difference. When done right, Facebook advertising can offer a major ROI in terms of business and sales since you will be targeting specific people who will be interested in your product or service. Targeting prospective customers specifically makes Facebook advertising a powerful weapon.
Digital Marketing Manager
ValueHits – Digital Marketing Agency, Mumbai.