SKEPTICAL ABOUT USING FACEBOOK AS AN ADVERTISING CHANNEL?
That’s what findings of a survey revealed, at least according to 540 small business owners.
Facebook is on track to pull $16.3 billion in revenue globally from its advertising services, which is a 25% increase in advertisers since February 2015.
There are now over 2.5 million people who use Facebook to advertise their business to reach potential customers and clients.
If you’re still wondering why your business should be advertising on Facebook, here are the main five reasons why Fantôm thinks you should.
1. FACEBOOK ADS TARGETING IS EXTREMELY DEFINED
Endless demographics, interests, and behaviors are what make Facebook an extremely powerful advertising channel for your business. Facebook advertising capabilities are what make it so powerful.
People are constantly liking pages that interest them, and people are continually volunteering their personal information to Facebook, not to mention that there are also third-party data providers that equip Facebook with very important details about its users.
Here are some of the targeting options that make Facebook advertising a powerful tool for your business:
- Financial Status
- Relationship Status
- Parental Status
- Liked Pages and Interests
- Purchasing Behaviors
All of this data is impressive, but more so, how you made it available to them, and therefore advertisers like us.
Liking, sharing, filling out information on your profile, and more is how they get all this information.
When you decided to “Like” the Arizona Cardinals’ Facebook Page, you gave them a little bit of information about what interests you. When you said you were in a relationship, they got a little more information, and little by little the pool of information that Facebook has about each individual user becomes bigger and bigger, giving advertisers like Fantôm the power to target your perfect customer.
Here is a look at one of Facebook Audiences to see how specific your target audience can get:
*This is only an example to showcase some of the targeting options available, p.s. there is more.
Although Fantôm would probably never try to be so specific, as you can see above, the potential reach for an audience like that is only about 50 people. The audience above was only to give you an idea of how specific Facebook targeting can become.
2. FACEBOOK HAS A MASSIVE AUDIENCE
Facebook has over 2 billion users globally, and they are extremely engaged; 1 out of every 5 minutes spend on a mobile device is either spent on Facebook or Instagram. There are also 500 million people that use the Instagram app each month (Fantôm can advertise on Instagram through Facebook).
There are people on Facebook interested in your business, all you have to do is find them.
You can potentially reach one-fifth of the world.
Data from Pew Research Center reveals that 70% of people using Facebook in the U.S. access Facebook daily, and 43% of that 70% access Facebook multiple times a day.
If that’s not enough to make you think about the power of Facebook’s audience think about some of these statistics:
- About 868 million people visit Facebook on a daily basis
- Facebook receives 1 trillion page views per month
- Ability to reach a “Super Bowl size” audience daily at a (very small) fraction of the cost
- 15.8% of the time spent on the internet is spent on Facebook
- Users spend over 20 minutes on Facebook daily
3. FACEBOOK LETS YOU ADVERTISE TO LOOKALIKE AUDIENCES
A “Lookalike” audience is exactly what it sounds like. These are audiences that are similar to audiences that have already interacted with your business.
How can Facebook possibly do something like that? Well, Facebook allows Fantôm to create lookalike audiences by scanning through custom audiences that are submitted to Facebook’s advertising platform, for example, an email list.
Facebook will scan through that data and uses an algorithm to match it to a similar audience that may have the same demographics, interests, and so on. Enabling advertisers like Fantôm to target people that are similar to those that have already shopped your products or services.
4. COLLECT USERS’ INFORMATION WITH FACEBOOK LEAD ADS
Many times people are hesitant of providing their information to businesses online because it is simply time-consuming, typing your name, last name, phone number, and email can take a lot of time, especially when people aren’t ready to do so, they never expected a form to appear in front of them, so it goes overlooked.
Facebook Lead Ads are ads that provide a quick way for Facebook users to provide all that information you’ve been looking for. These ads usually come with a call-to-action, such as “subscribe”, “sign up” or “learn more”.
Now if you remember above, it was mentioned that people voluntarily give their information to Facebook, and most of the information you are looking for, has already been given to Facebook since they created their Facebook account.
Facebook Lead Ads pull this information automatically, so the user rarely has to do any typing, the information is auto-populated and the only thing the user has to do is click “submit”.
Another great feature of Facebook Lead Ads is that you don’t need to send users to another website, or landing page. A pop-up form appears when the users click the button on the ad. This means that landing pages can be overlooked when using this form of Facebook ad.
5. FACEBOOK ALLOWS YOU TO CONTROL YOUR BUDGET
Facebook advertising can be extremely cost-effective, more so than AdWords, when managed properly that is.
Whether you want to spend $5 a day or have a $100k dollar budget advertising on Facebook gives you full control at all times. You can set up an ad schedule to have your ads run on relevant times for your business.
For example: If you have a restaurant and you want people to show up at your door you most likely don’t want ads to be running during times that your business is closed. Facebook allows you to set ad schedules to avoid throwing away your money so you can use it when it’s most relevant to your business and goals.
Facebook also lets you set spending limits on your account so that it doesn’t spend more than you want it to.
If at any given moment you need to pause the ads you can always do that too at the click of a button and this will keep the ads from running and your money from being spent.
Facebook is a great advertising channel for many businesses and that’s why people choose to advertise on the giant social media platform. Although, managing Facebook ads can be complex, time-consuming, and stressful. Fantôm offers Facebook Advertising Solutions to take the work of your hands so you can focus on your business. Contact us now if you want your Facebook advertising efforts to be in good hands.