We break down Facebook advertising into molecules! Why everyone wants to advertise on Facebook – we tell you all the pros and cons.
“If you’re not on Facebook, you’re dead” – more than two billion people in the world support this slogan.
According to Digital Information World, Facebook is the third most popular website in the world, behind only Google and YouTube. So it’s no surprise that hundreds of thousands of businesses use it as a platform for advertising.
Let’s find out why Facebook is so popular in online business and why most arbitrageurs want to “pour” through FB. However, we want to note right away that we have conducted a study and compared all types of advertising promotion and determined the most effective one. The results will impress you! (Expect the article on our website soon)
In the meantime, all about Facebook
To make advertising work as quickly and efficiently as possible, marketers and business owners choose the advertising channel that has the highest ROI (return on investment). Today, social media (in particular, Facebook) has the largest traffic of solvent and diverse audiences and is considered one of the highest-quality digital channels.
Facebook’s biggest advantage over Google is that it knows our social behavior. So, when you create a page, FB collects a lot of data. Maybe even more than you think. Your date of birth, family, friends, current geolocation, what music, books, and topics you are interested in. Even where you were and with whom you vacationed last year. Imagine how much value such a database can create for advertisers looking to reach specific users. And these emotions and our behavior have a huge impact on our purchasing decisions.
It is also worth recognizing that such advertising is relatively cheap compared to other forms. Overall, the issue of online advertising is not cheap, but looking at all the possible ways, Facebook is the best in terms of opportunities in terms of price.
Let’s take a look at the stats – according to https://thesocialshepherd.com
- The average conversion rate for Facebook ads (or CTR) is 9-10%;
- 41% of marketers surveyed claimed that Facebook provided them with the best return on ad spend (ROAS).
- 51% of total ad spend was spent on social media advertising;
- 20% – Facebook’s digital advertising market share (only Google has more);
How to promote an ad?
We would like to highlight three main strategies that involve the use of Facebook as an online marketing tool:
- Creating a page, building an audience, and stimulating subscribers to go to the site;
- Just buying clicks to the site;
- Leadership of remarketing campaigns.
The second option, to be honest, will be a waste of budget. Because, for sure, the transitions will turn out to be even more expensive than with Google Ads, while having a lower conversion rate.
An acceptable option would be to combine the first two methods, i.e. create a company page on Facebook, fill it with cool content, repost posts from the site, promote them among the target audience, collect a base for remarketing, work with it, and so on. Ideally, we should get a comprehensive strategy that will be more time and budget-consuming but will give the best return.
We haven’t forgotten about the disadvantages. They are also present in Facebook ads. Let’s start with them one by one.
First: Ad saturation
Of course, the biggest problem of ad networks is the oversaturation of digital space offered by brands. This includes a large volume of advertisers, non-original content, decreased engagement, and negative perception of brands.
The next factor is that the cost of advertising is constantly growing
Facebook ad costs can fluctuate due to various factors, and they have a significant impact on small businesses:
Well, of course – algorithm changes
As Facebook is constantly evolving, it often changes its algorithms. This significantly affects both organic reach and advertising effectiveness.
Yes, we agree that Facebook ads are very effective. It gives companies great potential to reach a wide audience, the ability to precisely and very granularly target, and a variety of ad formats.
But wait for our next articles, where we will conduct a thorough analysis of all types of advertising and determine the most ideal option! And then it’s up to you to decide.
