9 Direct Benefits of Facebook Advertising
Facebook Advertising is arguably the second biggest online advertising platform behind Google. With the use of Facebook’s accurate and extensive data resources, you can reach your target audience and convert them at a sustainable CPA. Take a look at some the key reason why your business should advertise on Facebook.
1. Precise Targeting
Facebook allows you to specifically narrow your targeting down to reach specific demographics that match your target audience. These include Age, Location, Language, Gender. Facebook users tend to provide accurate information of themselves when signing up which allows advertisers to pinpoint most characteristics.
Facebook captures user behaviour and interests by using their recent activity on Facebook. For instance, if a user likes a World Cup related pages they will be added into a pool of users who like the World Cup. Advertisers would then be able to target that pool of users with World Cup related ads. If you click a call to action button such as “Shop Now” on an ad you will also be included in a behavioural group for engaged Facebook users.
2. Reach & Cost
40 Million UK Facebook Users
According to Facebook there are between 35 to 40 million active Facebook accounts in the UK. With 40 Million users to advertise to you won’t run out of opportunities to reach your target audience. You may also opt to target another country in the world that has access to Facebook.
£0.1p a Impressions
The cost of Facebook advertising can vary depending on who your targeting, competition, campaign goal, budgets, bids and ad relevance. For the accounts we run the average cost for a 1000 ad impressions (CPM) is £10 which means it’s around 1p per impression. In comparison to offline channels that aren’t targeted Facebook advertising is a steal for most advertisers!
3. It’s Data Led
The Facebook pixel is a key foundation of Facebook Advertising. The Facebook pixel Facebook Pixel helps track conversions from ads, optimise ads based on collected data and build targeted audiences for future ads.
Key metrics such as CPC, CPA, Cost, Impressions are clearly displayed and documented on the Facebook Ads Manager for a holistic view of campaign performance allowing you to make smart decisions based on the metrics you see and the results you care about.
Campaigns aren’t just running they’re learning too. Using the facebook Pixel; campaigns are automatically adjusted to reach the most valuable users in your targeting criteria. It uses previous data from the campaign to identify who’s most likely to convert.
4. Retargeting Options
Facebook users who browse your website can be targeted with ads. If you have installed the Facebook Pixel correctly you can target users who go on any page of your website with specific ads that convert. Even if they come in via another channel you can still retarget them if they use Facebook. The majority of your sales will come from people who have been on your website before and know your brand.
If you keep track of your customer/client list (which you should!) then you can retarget them with ads to purchase again or to upsell products to them via ads.
You can even target anyone who has interacted with your brand on the Facebook platform. If they have visited your page, liked your page, watched a video, engaged with your ads and much more.
5. Expanded Lookalike Audiences
Another interesting thing you can use the Facebook pixel for is creating lookalike audiences. Using a lookalike audience allows you to create an audience that is similar to an existing custom audience. You can choose the population percentage of a specific country (i.e 1% of the UK = 400,00 or 2% of the UK = 800,000).
For us, this has allowed our clients to find new customers who are similar to their existing customers who convert. As more conversions happen the lookalike becomes more accurate and better targeted.
6. Engaging Ad Formats
Ads are everything when it comes to online marketing. Using the ad formats provided is necessary to attract, impress and engage users on Facebook. As they say “you never get a second chance to make a first impression”.
Multiple Ad Formats
Utilise different ad formats that showcase your products or service the best way possible. If you would like to show multiple products in one ad format you would you a “carousel ad” or “collection ads”. If you want to show a single product or service you would opt for the “Single image ad”. More Info
Video gets great results as they are engaging and they automatically played when users scroll through their feed. If you are thinking of producing video content for your business please make sure it is to the point, short (no longer than 2 minutes), good quality and has clear captions.
7. Campaign Control
Budget Control (Lifetime / Daily)
Control your budgets by either running a continuous campaign using a daily budget or if you’re running a short campaign you may choose lifetime setting a max budget for a specific time period. If you want to limit the spend of a certain campaign you can add a campaign spending limit. You won’t pay a penny over the limit you set.
Customers may convert more during different parts of the day and you may want to allocate spend during different parts of the day to get the most for your advertising spend.
Bid Caps & Target Goals
You can set a bid cap or set a target CPA for the campaigns. Be careful not to set it too low otherwise the campaign won’t find the best customers.
8. Goal Optimisations
If you’re a B2B company you are able to optimise campaigns for leads. Adding the correct events on contact form thank you pages will allow you to gather data of existing leads to optimise for new ones. You will need to have a consistent flow of leads beforehand to get the best results.
E-Commerce Conversions (View Content / Add to Cart / Initiate Checkout / Purchase)
Like B2B conversions; if you are a B2C company you are able to optimise for purchases or sales among other B2C checkpoints like add to cart or initiate checkout. Again you need enough purchases to get the best results. Optimise for a bigger stage in the funnel, like add to cart might be more beneficial if you’re just starting out to let Facebook gather more data.
If you run a service-oriented business you can captures leads directly on the Facebook platform saving time for users and shorting the funnel needed to produce a lead. This better used for local businesses or business without a website.
If you run a blog post or you just want more people to visit your website, you would opt for traffic. Using traffic will tell Facebook to find people who will go on your website but won’t necessary make a specific action like purchase or complete a contact form.
If you want to showcase your ads too as many people as your advertising budget allows you should choose brand awareness campaign option. Choosing this option will not allow your ads to be optimised for users to take action but just to see the ad.
9. Real Results
Some marketing channels can be hit or miss. If you have the right combination of targeting and advertising you will get conversions. By controlling the budgets and letting the campaign learn you should be able to get a good CPA for your product or services.
Thanks for reading!