When answering this question about Facebook ads, there are opinions from both sides. Some businesses praise the effectiveness of Facebook ads. At the same time, most report that the advertising platform did not pay off for them. We think the reality is somewhere in between the two. Facebook ads can be effective if you know what you’re doing. There are several reasons why Facebook’s paid platform is a viable strategy.
Facebook Offers the Most Advanced Targeting Options You’ll Find
Facebook is unlike other advertising platforms because of the advanced targeting options you can use. Of course, everyone is aware that you can target audiences based on interests and demographic information. But the real value is the ability to target custom audiences and lookalike audiences.
You can target people that are followers of your business page or even your email subscribers. This means you can combine your social media and email marketing campaigns to ensure you reach hyper-targeted users for your offer. The best feature is using Facebook Pixel to study your audience and find lookalike audiences. This allows you to scale winning campaigns quickly.
Facebook Ads Are Very Affordable
Although the cost of Facebook ads has increased over the past few years, it is still one of the most affordable ways to reach your target audience. Compared to traditional advertising (print, direct mail, TV) and other online media channels, using Facebook for display advertising is the cheaper alternative. This data chart shows how much social media ads costs compared to other channels.
You also get to control your budget, and how much you pay per click, so you won’t have to worry about your ad costs getting out of hand. Because you have so much control, you can acquire leads and customers affordably if you optimize your campaign correctly. Some business owners receive targeted leads with successful campaigns for cents on the dollar.
Retargeting Helps Your Ads Succeed
One of the essential features of Facebook’s advertising platform is the ability to retarget users. Retargeting is advertising where users who haven’t taken action on your website are presented with follow-up ads. By re-engaging your target prospects, you can remind them about your offer and approach them differently to catch their attention and interest.
For example, suppose a prospect visited your website and browsed a particular product. In that case, you can follow up with retargeted Facebook ads that offer a time-sensitive discount. This may motivate the prospect to take action on a product they were interested in instead of window shopping or comparing prices between similar products/vendors. You can also highlight other product benefits or even offer different pricing options to appeal to different segments of your audience.
Just how effective is Facebook retargeting? Retargeting ads generate 76 percent more clicks than typical ads. The same resource page also found that retargeting ads lead to a 10x increase in branded searches. And while it may seem like an intrusive way to engage prospects, only four percent stated that they were annoyed.
Reasons Why Facebook Ads May Not Work
Suppose Facebook ads work and have many benefits. Why are so many business owners unable to make it work for them? After all, over 60 percent of business owners reported that they didn’t see results. The answer is complicated, but we feel that it comes down to several common factors:
Facebook ads come with a decent learning curve and require a good amount of money and time to learn how it works.
The profitability of Facebook ads increases with multiple engagements. But, unfortunately, it’ll be either a hit or a miss for advertisers not using retargeting ads.
Facebook’s pixel often costs money upfront to learn about your audience. As a result, many advertisers give up before Facebook gets a chance to improve their ad targeting.
Most businesses have spent only $1000 or less on Facebook before deciding it won’t work for them. But, unfortunately, this usually isn’t enough to figure out how to make a campaign profitable.
Too many advertisers are approaching Facebook ads with a short-term strategy. They want to convert Facebook traffic directly into sales. Unfortunately, many campaigns require more work, including lead nurturing, multi-channel engagement, and customer funnel optimization.
In conclusion, Facebook ads do work. Learning how to use the platform and its extensive features is just a matter. It would be best to approach it with an effective strategy and constantly optimized campaigns for profitability.
If you’re looking for help with Facebook or other social media advertisements, then look no further than the social media professionals here at Contractor Advertising! We’re standing by to help with all your Facebook and social media advertising needs!
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