Power of Facebook Ads and why you should be using them!
Updated: Aug 17, 2020
Looking at a recent study, it’s clear to see some business owners do not see the value in the use of Facebook.
Which is strange, because Facebook generated $69 billion in advert revenue for 2019 - this is a huge amount for a service that some do not consider valuable.
Heres four reason that might dispel that myth:
1. Facebooks pinpoint targeting
With endless amounts of behaviours, interests and demographics to pick from, you can narrow down your target audience to the exact person want.
Is your target market divorced men between the ages of 35-40 with an interest in Xbox? Yep, you can target that exactly!
But how does Facebook know this? Each and every time you like a post, set a status or change a part of your profile - Facebook store this in their date pool and make it available for advertisers to utilise.
You could run a newspaper Ad and have a reach of 20,000 readers with only 2000 interested in your service/product - or you could run a targeted Facebook Ad campaign and reach 20,000 super targeted people that are interested in your product/service for a fraction of the cost.. I know which I would be doing.
2. Reach in the billions
With 2.50 billion monthly active users you could theoretically reach just under a third of the worlds population on Facebook.
If we look at just the UK, with 42million users (a whopping 62% of the population). Everyday the average UK user spends 1 hour 50 minutes scrolling through social media, and with Facebook being the most popular and Instagram within the top 3, a vast majority of this time is on one of these two platforms. The possibilities for reach for your company is therefore huge, you’ve got 42 million active users, spending an average of nearly 2 hours so there’s no question there’s a huge untapped audience waiting for your ads to land in front of them.
3. Facebooks buying influence
Social proof is huge! How much more likely would you be to buy a product that, your friends have shared or is from a page that has 100k likes, compared to buying from an unknown webpage with no real social proof backing it? This is the exact same for your customers.
4 in 10 social media users have bought a product after “liking” something in relation to it.
30.8 of consumers say Facebook influences them more than any other platform
71% of people are more likely to purchase something based on a social media referral
81% say that posts from friends directly influence their buying decisions.
Facebook are fully aware of how social proof can encourage purchase so leverage this on their ads by include your friends that have liked that page above the ad - making it more likely that you’ll look it.
4. Retargeting, the hot lead
I have explained the possibilities for reaching new people, but what about reaching people that like your page or interact with your page already?
With the introduction of the Facebook pixel, companies can now retarget you with the exact product you have viewed on their page 5 minutes earlier.
The possibilities are endless with retargeting, you can set it up so that customers that viewed a product but didn’t complete purchase are targeted but ones that clicked through and purchased are not - boosting conversions without wasting ad spend on people that completed.
Using this data, you can now create ‘look-a-like’ audiences, this is where facebooks algorithm creates an audience based on them being similar to users that may have already liked, purchased or viewed your website/profile already. One company that started utilising the look-a-like audiences saw boost of 134% in ad-click through!.
Will you be using Facebook Advertising?
With Facebook Ad users growing by the day, it’s getting to the stage of ‘can you afford not to use them?’.