Since the launch of Facebook, business owners have been using the social network as an integral part of their online advertising campaigns. Of course, Facebook were quick to notice and have been keen to cash in on it ever since. Over the years business owners have increasingly been pushed towards spending money on Facebook ads rather than using their Facebook page for free, but are these ads really worth it? Let’s take a closer look.
What Are You Actually Paying For?
Facebook are making it more and more difficult for small business owners to reach their audience without paying. There are several different advertising options to choose from on Facebook. Each of these advertising options offers something slightly different as we will explore below.
- Promoting Individual Posts – If your end goal is to get some new likes for your page and increase engagement, then you might be looking at promoted posts. These are not only shown to your existing followers, but also their friends. It is a great way to publicize an upcoming event or a special offer.
- Promoting A Facebook Page – The latest type of Facebook ads are the ones which promote your Facebook page and will encourage users who are not already fans to like your page. You can target the ad to those with a specific interest or from a particular geographical location.
- Creating An Advert – This is the standard type of advert that most of us are used to working with. They are formatted in much the same way as any other type of display add and are most commonly used to get people to visit an external web page.
- Sponsored Stories – These are ads that appear in news feeds and will be shown to friends of those already liking your page. Since the ad shares which of the viewers friends like your page it is almost like their friends are endorsing you!
How Worthwhile Are These Facebook Ads?
There is no single answer about whether or not is is worth investing some of your advertising in Facebook ads, because they can be more effective for some people than they can for other. What we can say is that if you are considering Facebook ads then you are going to need to consider various different factors if you are going to see the results you are looking for.
The first thing to look at is the cost. Facebook gives you a choice of two options. With CPC adds, you are charges every time someone actually clicks on your ad. Alternatively, you can opt for CPM adverts which are charged every time someone sees your ad. CPM are the slightly riskier option since Facebook are not guaranteeing any engagement with your advert, but rather are promising to show the ad to a designated number of people. If you are going to choose the CPM method then you need to understand how to craft a killer Facebook ad that is going to convert!
Most of the power of Facebook ads lies in the ability to target specific demographics. When you set up your ad campaign you will be asked to filter out who gets to see it by choose age ranges, gender, interests, location and other factors such as hobbies and interests. This means that you are able to target ads directly at your target market without wasting money on people who will never be remotely interested in your product or service!
Of course, Facebook ads have their drawbacks as well and one of the main ones is that there are some pretty bog limitations. There are some demographics who are not Facebook members, the most evident being older generations. If your target audience falls into one of these demographics then it may not be worth the time and money a Facebook ad campaign would involve. Similarly, Facebook ads are better for generating sales of smaller items rather than those big ticket items. These are factors that really need to be considered.
In short, Facebook ads can be very effective when it comes to advertising your business, but only if you know how to use them!
Tuan Nguyen, founder of 20DollarBanners.com, has several years of experience in advertising and banner design and has enjoyed helping hundreds of business owners to build up their companies with the help of banner advertising. Tuan is also the founder of Aplusmedia – a successful web development and marketing agency.