Whether you are a new starting business, or a business looking to grow your revenue streams, social media Facebook advertising should always be a consideration.
Facebook advertising is an important way to connect with your audience on the world’s largest social network with over 2.80 billion monthly active users. This is an impressive number and great exposure but Facebook ads are all about getting your posts in front of the right group of people and the ones most likely to convert… and that’s the hard part.
Although it takes investment and time, Facebook ads can be very lucrative for your business, with the last quarter of 2020 seeing a total ad revenue of £20.7 billion! As Facebook reaches over 59% of the world’s social networking population it is important to get your brand in front of this vast audience.
Below are some pros and cons to Facebook advertising. Hopefully this will help you decide whether Facebook advertising is right for you.
An average of 34 minutes is spent on Facebook per day, per user. This is a lot of time to scroll through their feed and come upon an ad for your business, giving the user ample time to discover you and your brand.
2/3 of Facebook users visit a local business page every week. So if you have a brick and mortar store or a HQ for your business it is worth advertising to people in your local area to try and push foot traffic to your physical store and increase your brand awareness.
86% of internet users with £100k+ salaries use Facebook. Although this doesn’t seem that important it may be a useful statistic for those with more luxury-driven products. People with higher incomes should have more disposable income and may be more frivolous to purchase from a social media advert.
The most popular age group on Facebook in the UK is aged 25 to 34 years old, so if you have a product or service that is popular with this age group then you will likely see good engagement & interest.
The average Facebook Cost-per-click (CPC) is £0.31 and Cost-Per-Acquisition (CPA) is £3.80 which are great stats. Obviously these include some very large companies like BooHoo, Spotify & Tesco so these may not be realistic figures for your business but does provide a useful insight into the costs of advertising.
In general you have a lot of freedom with Facebook adverts in terms of creative, audience targeting, timing, budget etc. This means you can get very granular with your ad targeting.
Facebook ads help build brand awareness as you can run specific engagement campaigns for page likes or post engagement.
You are trying to convince people to buy your product who may have never engaged with your brand before. This can usually take a bit more time and, historically, we find lower conversion rates on Facebook compared to more intent-driven channels like Google.
Facebook involves more content and ‘work’ as you want some variation in your ads to appeal to different Facebook audiences meaning you will need a variety of different ad copies, images, videos, and creative content. If your business doesn’t have very good promotional content to work with then this may be something to consider before going into Facebook advertising.
Generally Facebook requires a significant amount of A/B testing and data gathering. I wouldn’t necessarily call this a con however it can involve a higher starting budget. It is great to build the data on what audiences, interests, and ad content respond well to your brand, however sometimes audiences don’t gain the level of traction as you might expect.
Are Facebook Ads For You?
Ultimately it is a big decision for a business to make. We recommend having a solid business objective, set budget & Facebook-ready creative content to fully utilise the Facebook advertising platform. For further information about Facebook advertising feel free to contact us to discuss how we can help you reach your business goals!
-Adverts limited to 250 characters or fewer see 60% more engagement than longer posts.
-The best days for engagement on Facebook are Tuesday, Wednesday & most of all Friday.
-35% of Facebook followers liked a page specifically to enter a competition.
-Asking a question at the end of your post yields a 100% increase in comments over posts with a question in the middle.
-Posts using emojis see higher rates of engagement 🙂
-Facebook boosts visibility for the last 50 pages a fan interacts with. This is why it is key to do regular organic and paid posts.
-Users on Facebook almost exclusively use mobile to access Facebook, so making sure you are formatting your ads to perform well on mobile is crucial to success.
-Vertical videos generate the highest engagement rate of 0.35%