Should you still be investing in Facebook ads?
Have you used Facebook ads before and are unsure whether you should do it again? Or maybe you are thinking about advertising on Facebook but don’t know if your money could be better spent elsewhere.
Wonder no more, we can provide all the information you need right here.
Facebook advertising has been successful for many businesses for several years but with all the new competition and new social media platforms popping up almost every day, it is reasonable to wonder if Facebook ads are still beneficial for your paid social strategy.
Want to better understand the advantages and disadvantages of Facebook ads? Let’s get started.
Do Facebook ads convert?
Simply put, yes!
The average conversion rate is around 9.21%. The higher this number, the more likely that your ads will convert. Competition can also influence conversion rates.
You should use your industry benchmark as a goal for your conversions.
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How much do Facebook ads cost?
The cost of Facebook ads alters based on industry, competition, time of year, and what bidding method you choose for your ads.
For example, the image below breaks down the average costs:
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What makes Facebook ads so good? Here are five reasons
Facebook has all the targeting options you need
Want your ads to reach the people most likely to purchase your product? Of course, you do and Facebook has your back. The Meta-owned platform provides several targeting options so you can make sure your ads get in front of the right people. So, what are these options?
‘Audience insights’ is a tool that allows you to learn and better understand your audience. This allows you to gather valuable information about your target audience, so you can make content that is relevant to them. You need to know your audience to know what they will resonate with.
You also have the option of retargeting users. For example, you can specifically target users who have viewed your site but have not yet made a purchase or abandoned their basket. As well as this, you can target people based on their life events; if you sell furniture, you can target new homeowners, for example!
If you want to reach new audiences, you can create ‘lookalike audiences’ based on your existing customers and target them. Facebook also offers detailed targeting options and broader targeting options depending on the specificity you need. The targeting potential Facebook holds is second to none.
Flexibility with Facebook ad types
Another benefit of Facebook ads is the dynamic ad creative. With a variety of formats, including image ads, video ads, carousel ads, and collections ads, you can find one that perfectly aligns with your goals.
With interactivity becoming more important for users and how they engage with content, having flexible options you can experiment with is a real bonus!
You can track your Facebook campaign success in real-time
Once your ad is live, you can gather and monitor data as it goes. This allows you to learn from this data and refine your strategy where needed. Being able to track your campaign also means you can ensure you are not wasting money on ads that aren’t performing. This is a cost-effective method that maximises your budget.
Facebook ads remain cheaper than other platforms
Whatever your budget, we are positive that Facebook ads can work for you.
For example, if we look at Cost Per Click (CPC), the average for Facebook is $0.97 (74p) whereas LinkedIn’s is $5.26 (about £4) and Instagram’s is $3.56 (£2.70). Its clear, then, that Facebook is a much cheaper option, so it can be a great fit for small businesses that are more limited in budget.
You can streamline content by integrating with Instagram
With Meta owning two social media giants, advertising on one allows you to access audiences on the other. Linking campaigns to your Facebook and Instagram accounts is a great way to enhance your brand awareness and make your content process easier as anything you post on Instagram will also be posted on Facebook and vice versa.
From this, you can reach a wider audience and increase your conversions.
Another advantage of integrating the platforms is that you can better manage your messages from both platforms in one inbox. As user experience and communication are important when building loyalty and trust with customers, having good management of messages is crucial.
All seems good right? Well, let’s take a look at some of Facebook’s limitations…
Facebook might not be as cool as it used to be
Let’s face it, Facebook doesn’t have the trendy, fresh reputation it used to have. With platforms like TikTok and Snapchat captivating Gen Z, older platforms like Facebook have lost popularity with younger generations. That doesn’t mean it isn’t popular for other generations but if your target audience is Gen Z, Facebook might not be the best platform to use.
Competition is high
Can you think of a business that doesn’t have a Facebook account? It’s hard, isn’t it? Over 3 million businesses use Facebook’s advertising tools. This means that it is hard to stand out in such a crowded space. Many users get used to seeing so many ads they almost zone out and don’t notice it on their feed; this is known as ‘Banner blindness’.
Competition can influence bidding prices and as more businesses jump onto Facebook, the more it will cost to advertise. You must create content that stands out from the crowd and find a bidding strategy that works with your budget.
Meta Ads Manager is not the easiest tool to use
It requires a lot of time and effort to understand how it works before you can even start creating an ad. The old phrase ‘practice makes perfect’ is appropriate here, the more you use the tool, the more you get comfortable with it. As Facebook is constantly updating its software, there are always new things to learn when it comes to creating ads here. Luckily, here at Embryo, there are a team of experts who are masters of Meta and can help.
The BIG question: Should you still use Facebook ads?
It is a definite yes from us! If you don’t advertise on Facebook, you can be sure that your competitors will be and they will be reaching an audience you aren’t.
With the detailed and vast targeting options, you can be sure your ads reach the right people and increase your conversions. You can experiment with your creativity due to the different ad formats, track and measure the success of your campaigns consistently, create a successful campaign within your budget and integrate your Instagram and Facebook accounts to increase reach and ultimately boost sales. With all those advantages, what’s not to love?
As mentioned above, Facebook ads do come with their challenges BUT if you check your demographic is active on Facebook, make your ad content stand out and take the time to fully understand the Meta Ads manager, we are sure you can overcome to main challenges and have successful campaigns on the app.
Ready to get advertising on Facebook?
Whether you need help with your content or strategy or both, our team of experts can help you achieve success with your Facebook ads. Get in touch with us and make the most out of Facebook advertising.
