Facebook has been the number one social media platform over the last decade, reporting over 2.2 billion users at the end of 2017. Facebook has also been a useful tool for businesses, allowing them a chance to build a fanbase and reach their target audience. A company could publish "organic" posts that would reach some of their current fans for free, or choose to pay for "sponsored" posts that would reach more people and help build their fan base & accomplish marketing goals.
Facebook users' newsfeed soon became cluttered with posts from businesses, rather than posts from people they know. User satisfaction slowly decreased and prompted Facebook to make changes to its algorithm. These changes drastically reduced the amount of people reached by organic business posts and left many business page managers confused about their future Facebook strategies. This decrease in organic reach makes Facebook ads an even more important tool than in the past. Here are three reasons why you should be using Facebook Ads for your business.
1) Facebook Ads are Still Cheaper than Most Other Advertising Channels
Social media advertising revolutionized the marketing landscape for most industries. Platforms like Facebook provided a way for people to reach new audiences for a fraction of the price of traditional ads. An average magazine advertisement can have an average CPM (Cost per thousand people reached) of anywhere between $30-60. Other forms of advertising can be even more expensive.
Facebook ads have an average CPM of around $6, although this price can change quite a bit depending on your targeting and objectives. Facebook still provides an excellent way for businesses to reach audiences for a cheap price, so users should consider taking advantage of the value in advertising on the platform.
2) Facebook Ads Allow for Detailed Targeting
Advertising on Facebook wouldn't be much help if your ads get shown to just anyone. Luckily, Facebook lets you target who sees your ads based on demographics, age, behavior, and other user information.
You can get creative with Facebook's ad targeting, using it to make different audience segments. You are then able provide specific ad messages/content to the corresponding segment. Getting the right message in front of the right people is what advertising is all about anyways, isn't it?
3) You can Measure, Analyze, and use your Facebook Advertising Data to Improve your Future Ad Campaigns
Facebook gives your precise data results from your Ad Campaigns in real time. You can test different ad types/strategies against each other, and then use your findings to optimize future campaigns.
Other types of advertising can be more challenging to find exact results data. Can you measure the exact amount of people that opened a magazine, let alone turned to the page of your ad? Facebook reports the amount of people you reached, post engagements, page follows, link clicks, video views, and other useful metrics.
Many business owners have been frustrated with Facebook's recent algorithm changes and are confused on how to use the platform for future marketing objectives. We think that Facebook is still a useful tool for businesses of all sizes, but learning how to use the site's advertising tools to your advantage in more important than ever!
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