Like it or not, Facebook advertising is an ever-increasing marketing vehicle that should be considered in any marketing mix. For as little as a dollar a day, you can reach as many people on Facebook as you can with radio or TV — but only the people you want to reach, and for far less money.
How much less? Facebook ads have the lowest cost per 1,000 impressions in history. The small right-column ads average $0.25 per 1,000, which is only 1% of the typical cost of TV advertising. Larger newsfeed ads average $4.50 per 1,000 impressions, or 45 cents per click. (The Moz Blog, Why Every Business Should Spend at Least $1 per Day on Facebook Ads — by Brian Carter)
It helps to understand what you can achieve with Facebook, and what you can’t. Facebook ads can grow brand awareness easily simply with the high number of impressions it can make. But getting web traffic to your site directly from Facebook is a pretty difficult task. It requires careful planning, the right message, and eye-popping imagery to get people to click on your ad. You’ll need to target your audience carefully and understand the social mindset they’re in while they’re using Facebook.
Target the people who may be most interested in your product or service. Narrowing the scope of audience demographics allows you to target the people you think will buy your product, and avoids wasting money on those who are probably not interested in the first place. You can target location, age, and gender, as well as personal interests, education level, and other target categories. With a smaller target, you’ll still reach a large audience of viewers, and there’s a better chance of getting a return on your investment.
Understand if your message fits into the social scene. Facebook ads can be great for some businesses, but not for all. Does your product or service have an element of fun or recreation? Does it promise social clout, or maybe a little retail therapy? If so, you should consider Facebook advertising. The most effective ads match the headspace of Facebook users, who are there for social purposes and entertainment — not for thinking about work, or serious things like insurance or world poverty. Facebook is an escape from that stuff, so your serious message is likely to be ignored.
Develop great content. Decide what message you want to send out about your brand. Headline messaging really matters for Facebook advertising, since it may be the only text in your ad that users will notice. So make it powerful and to the point. But while headlines are important, your image is the most critical part of your ad, so make sure it’s as eye-catching as possible.
Try Newsfeed ads. Newsfeed ads go directly into the news feed of users. They give you more to work with, so it’s a great opportunity to use your best imagery. A fun function of Newsfeed ads is that photos of your fans are seen along with the ad, which makes it easier for users to see what their friends are interested in and what brands they are connecting with. We’ve found that these ads have a higher click-through rate than right-column ads, so while you’re paying a bit more, you’re also getting better results.
If you’re a new business, it makes sense to try Facebook for getting your name and brand out there, since this is a fast, inexpensive way to get noticed. If you’re an established business, it can be a great way to stay on top of online marketing by creating contests and promoting specific products and events. The more you do it, and the more impressions you make, the more fans you’ll acquire and the further your message will go. So go ahead, get social!
A few Facebook stats:
• 47% of Americans say that Facebook has a greater impact on their purchasing behavior than any other social network. (State of Search)
• 23% of Facebook users check their accounts five or more times every day. (WordPress Hosting SEO)
• 93% of marketers use social media for business. (WordPress Hosting SEO)
• In January, 2014 there were 178,000,000 Active Facebook Users (USA) with 56% Facebook penetration.
• 52% of all marketers have found a customer via Facebook in 2013
• Internet advertising will make up nearly 25% of the entire ad market by 2015.
• Half of all social media users under age 35 follow their online friends’ product and service recommendations. (TECHi)
• 92% of small businesses say that social media is an effective marketing technology tool.
• They are evenly split on the effectiveness of social media for attracting new customers vs. engaging existing customers. (e-Strategy Trends)
• 56% of Facebook users check in at least daily. 7% say they would check a message “during an intimate moment.” Awk-ward. (TECHi)