Is Facebook advertising really effective?
Facebook was founded approximately one decade ago. From that time, the platform has grown to become a global powerhouse for almost everyone. The fuel that has been behind the represented increase in its rise remains to be advertising. Therefore, you cannot overlook the role of Facebook advertising in contemporary society.
In 2016, the various social networks generated a total of $27 billion in the form of advertisement revenues. This was an increase from $764 million way back in 2009. It represented a rise of more than 3400% within a period of fewer than ten years. So many businesses are using Facebook advertising in the United States. The way different businesses use Facebook to advertise is not the same. Most of them are realizing a positive return on investment. Putting popularity aside, is Facebook advertising really effective?
Each dollar that you spend on marketing is vital and really counts. The ultimate return on every business differs based on various variables such as ad quality, industry, investment, etc. To know whether Facebook advertising will add value to your business, you need to base your calculations on results. If you have not yet started using Facebook advertising, here are some tips to help you make an informed decision.
Do Facebook Ads Really Work?
To get the best ROI from Facebook ads, the best way forward is to go back to the hard numbers. Several statistics will tell you the effectiveness of Facebook ads in the world of advertisement. To start with, 22% of the total world population comprises Facebook active users. This includes 68% of the United States adult population.
76% of these users are looking for interesting content on the platform and since 2014, the content consumption on Facebook has increased by 57%. On the other hand, 66% of Facebook users log in to learn more about the new products and services that are in the market.
If customers like your business on Facebook, there is a likelihood of 79% that they will make new purchases than the non-fans. A study done in 2015 revealed that Facebook influenced 52% of consumers in making both offline and online purchases and the figure keeps on rising.
Facebook has a hyper-targeted Custom Audience feature that allows advertisers to advertise specifically. This reduces the cost of acquiring new customers by 73%. When it comes to awareness building, the average CPM (cost per thousand impressions) for the Facebook ads is approximately $7.29 vs. upwards of $35 for the television commercials. Facebook is also highly useful in the realm of B2B. 73% of individuals accept to be using Facebook for professional purposes. With all this information, it is clear that Facebook advertising has a lot of potential in delivering significant returns of marketing investment for any business.
Facebook Ad Campaign Strategies in Boosting Your ROI
As we have seen, Facebook has the capacity to improve your ROI. However, you still have to plan and execute an effective campaign. Even though you could be comfortable with the use of Facebook, it is a completely different thing to build Facebook advertising. Most enterprises find themselves in trouble by underestimating the system and platform and end up overspending to achieve the desired results. Facebook Ads are sophisticated available advertisement platforms in the market. The fact that it is accessible does not imply that it is easy to utilize properly.
Your Facebook Pixel is the most essential place to begin. Once you install this code snippet on your site, you will specifically target visitors on your website based on the engagement that they have with your company. For instance, you can target a person who has been on your gallery, pricing page, or used Facebook ads to fill the contact form. Even though this seems to be simple, you need to be ked to install the Facebook Pixel properly.
Build Ads Around Your Goals
You can create ads on the Facebook advertising platform based on any of the 12 specific objectives. Each of these objectives is grouped by stages in the basic marketing funnel: Conversion, Consideration, and Awareness. When you know which one is your priority, you will be able to build your ads in the best possible way and also gauge your ROI accurately.
Accurately and Specifically Target Your Audience
Facebook allows businesses to target customers with a high level of precision. The targeting is based on their income, occupation, interests, location, gender, behaviors, etc. No matter what you are selling or promoting, you are able to create custom audiences that directly deliver the ads for the people you would like to see them.
Facebook users get bombarded by adverts 24/7 and not only on social media. You need to understand that people don’t come on Facebook for you to sell to them. They come to this platform to watch the cute cats, interact with friends, or check up on their ex. You will only stand up if you deliver great content that will genuinely appeal to your audience. It means that engaging video content, striking visuals, an amazing and succinct copy are crucial.
Monitor all the Time
The lowest budget on Facebook is $5. The short half-life on social content makes up a platform that uniquely suits aggressive testing. You can never use the target of setting Facebook Ads and forgetting about them. You have to monitor and review the progress constantly. You cannot build a campaign and expect it to produce instant results for the set goals. It means that it will cost you more in the beginning to get results. When you know how to manage your campaign in driving down the CPM, you will be able to get a stellar ROI.
The number of Facebook users is on the rise and your competitors target them more. When you know how to do Facebook marketing, it will bring a lot of value to your business. There are endless options from multiple-step ad funnels for the nurturing and conversion of leads to the simple lead generation ads. You will only waste your precious time and money by dabbling. All you need to do is start the soonest you can and treat Facebook advertisement like a powerful platform for your brand. You can get the best strategy for Facebook advertising from NXT LVL ROI Business Consulting Services.
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