Facebook has come a long way—it’s no longer just for connecting with family and friends, but also for connecting with a large variety of businesses. Thanks to the continuous progress and innovation of Zuckerberg’s team, we can do almost anything on Facebook.
Facebook’s expansion has led both small and large scale businesses to dive into the market-rich pool of Facebook.
In fact, Ali Parmelee mentions that Facebook generated an estimated $27 billion in advertising revenues alone 2016. This is a skyrocket increase of 3,400% from 2009 in a span of less than a decade!
Businesses on Facebook are taking the opportunity to get closer, bolder, and bigger: closer to their audience; bolder in their marketing campaigns; bigger in the audience they reach.
Closer Audience Interaction
When you’re setting up your Ad, Facebook has this algorithm called Audience Segmentation, where you provide FB with the profile of your ideal audience. Facebook has an amazing number of custom audience parameters, allowing you to create refined audience segments for your campaigns.
Bolder Marketing Campaigns
Ads are usually highly visual and should align with the ways in which people use Facebook, particularly on mobile devices. So let’s avoid that tiny, text-based ad.
People nowadays would opt to see more of a video ad of how your product works, or a photo ad of a beautiful scenery for a travel blog and a whole lot more of options you can use.
Bigger Audience Reach
Here are some important stats on the usage of facebook:
- As of September 2018, there have been 1.49 billion daily active users on Facebook.
- People spend an average of 35 minutes per day on the social media platform.
- The average organic reach for a Facebook post is 6.4% of the Page’s total likes.
- 200 million people have joined a Facebook Group.
We could go on and on with stats. But, it is important to note that Facebook is expanding its reach to the other billions of people in the world.
So if you’re still asking whether Facebook Ads are effective? Yes, they are effective in assuring that your products and services are strategically marketed to the right people.
They’re effective for any budget: the average click on a Facebook ad currently costs around $0.27. Every 1,000 impressions will cost you on average about $5.95.
With the right content – a lead magnet, a video, a photo, an album, an offer – your business can surely maximize Facebook ads.