Facebook is now one of the most popular marketing platforms on the planet. The social giant has grown to more than 2.91 billion active users per month, it has also expanded its advertising network to meet the needs of a wide range of companies.
Meta's digital advertising market share is about 20%, making it one of the largest players in the advertising market, second only to Google. In addition, the coronavirus pandemic has brought some unexpected changes to digital advertising. As the world adjusts to declining physical store traffic, it makes sense to consider the benefits of Facebook advertising for your business. Internet companies and e-commerce should become the norm for business, and the advantages of Facebook advertising over competitors make it a good option.
Now the many benefits of advertising on Facebook are obvious, but paid advertising has many difficulties. It is important to understand what Facebook offers companies and how its paid advertising network is built to offer many advertising options. So you will see how this can help you reach a new audience.
That's why we wrote this blog to help you understand - and use - the benefits of advertising on Facebook and Instagram.
Access to one of the largest audiences in the world
The most targeted form of advertising
Facebook advertising is very cheap
Facebook advertising is fast
Advertising on Facebook increases brand awareness
Let's start with the facts. 80% of all Internet users use Facebook. Even 65% of adults over the age of 65 use Facebook. Meta reaches billions of users, and most of them check their Facebook or Instagram page several times a day.
No matter who your customers are, they use Facebook. And they use it every day.
Facebook's advertising platform with more than 2.9 billion active users gives businesses access to one of the largest digital advertising networks. But that's not all, since the acquisition of Instagram in 2012, the social networking giant has built its own advertising network to provide easy access to both platforms.
Their ad network extends to both sites so that advertisers can display their ads on each - without additional settings. Today, Instagram also has more than 1 billion users, and its audience of daily active users is well over 500 million. In fact, both Facebook and Instagram have excellent usage statistics. Advertising on Facebook benefits companies of all sizes by giving them access to an audience they won't get anywhere else. 78% of American consumers say they have found products they bought on Facebook, and 60% of people say they find new products on Instagram! Almost two-thirds of all adults use Facebook, making it one of the biggest benefits of Facebook advertising for small, medium, and even large businesses.
As already mentioned, more than 3 billion people are active in Meta services every month. On average, a person spends almost 2.5 hours a day on social networks. This is something huge. It's everywhere. Businesses cannot ignore Facebook. That's why your business needs a Facebook page - there are current and future customers.
Follow the crowd. If most of your target audience is on Facebook, then you also need to be on Facebook.
The main advantage of Facebook advertising is its ability to reach your audience. Advertising on social media for most platforms means giving advertisers the opportunity to focus advertising on their own target audience using user data - and Facebook is no different. The platform has a lot of data. You can micro-target the audience that is best for your business.
Facebook has a thorough level of detail that allows you to narrow the demographic group for each ad you run. You really need to know your customers. Companies can create ads to narrow their target audience to the following segments:
Interests (expressed interests, preferences, and hobbies)
Behavior and recent purchases or use of the device
Major life events, etc.
Facebook advertising makes it possible to set parameters extremely accurately. Companies can identify their own audiences based on the above categories.
You can also use more advanced targeting tools, such as Lookalike Audiences, which allow you to target people similar to the people who are already interacting with your business, or you can expand your targeting options to select a more specific audience.
This level of understanding of the audience is one of the advantages of Facebook ads, which are not offered by the classic search (PPC / PPV). Due to the nature of search engines, ad networks such as Google cannot offer such detailed demographic targeting.
Facebook's targeting capabilities can be deeper than any other platform, and you can overlay and combine them to make sure you're eliminating users who don't belong to your target market. It is important! Audience quality is more important than size. We want conversions. You need to look for Facebook users who are potential customers - people who are more likely to buy your product, not just casual visitors.
Targeting is probably where Facebook outperforms other advertising platforms.
Another great advantage of Facebook advertising is that it is one of the cheapest forms of advertising compared to traditional media and advertising on other social networks. This is especially true for many small and medium business advertisers. You can literally spend a few dollars and reach 1,000 people. It doesn't make sense to spend more on radio advertising, television advertising, billboards, and other traditional media to reach the same audience.
You can set a daily or permanent budget. You can easily increase or decrease it at any time. You can choose advertising goals that fit your budget and set an individual budget to suit your business needs. For most types of ads, the minimum daily budget ranges from $1 to $5. You can also adjust your budget or pause your ads depending on the current needs of your business. You can set an account spending limit - a general limit on the amount of money your advertising account can spend on all advertising campaigns. Setting an account spending limit can be a useful way to control your spending and make sure you don't spend more on advertising than you want.
The cost of advertising on Facebook is determined by many factors (your budget, types of advertising, industry, etc.) With the right targeting, you can get cheap clicks and conversions. This is made possible by the fact that the CTR (click-through rate) of Facebook is growing steadily due to advanced algorithms. By constantly improving their targeting capabilities and creativity, business owners can effectively target the audience they want to reach, at a low cost.
Also, keep in mind that testing your ads will end up being the most expensive part. Facebook ads hardly ever work on the first try, and you need to set it up properly. This is normal. You need to consider the testing phase when setting your budget.
Advertising on Facebook can pay off very quickly. You can start reaching thousands of people today.
Once your ad campaigns are set up in Ad Manager, they'll be reviewed by Facebook, and they'll immediately start showing your brand/products and generate revenue/conversion.
So if you're looking for a quick way to increase traffic and conversions, Facebook advertising is one of the best solutions.