Harness the power of Facebook! Grab the attention of its 2.41 billion monthly active users for sales and leads.
It seems like everybody has a Facebook account nowadays. It’s the third most-visited website in the world – outranked only by YouTube and Google.
When someone spends time online, odds are that they’re on their Facebook account. In fact, 74% of users log in daily with 51% logging in multiple times a day.
These stats are a marketer’s dream because more people mean more potential views and leads.
Sasha Karabut founder of PushPeak utilised the power of social platforms when he worked with Growth Marketing. You see, Sasha needed to promote some upcoming events. The team used social media advertising to get the word out.
And do you know what happened?
PushPeak had over 2000 people show up in two cities – Melbourne and Sydney.
Even better, Sasha saw his ROI shot up to 14 times his investment.
Is Facebook advertising the right choice for you?
Take a look at some of these facts and figures…
Facebook Advertising Cost
First, we probably need to address the elephant in the room. Every business owner worries about how much extra they’ll have to spend on new marketing and advertising strategy.
Social media advertising does consist of paid ads. However, here’s some good news:
In Q2 2019, the average price for a Facebook ad decreased by 4%.
Facebook advertising cost was a source of contention for many a small business because prices had been going up for a while. That’s no longer the case and now you can get a little more bang for your buck.
There are a couple of ways to define Facebook advertising cost. It all comes down to your total budget and the cost per result.
You can keep Facebook advertising cost under control by setting a budget whenever you start a new campaign on the platform. Choose between a daily budget and for the lifetime.
Lifetime limits set the maximum amount you’re willing to spend per account. This amount applies to all the campaigns you run.
There are also optional controls to cap the monetary amounts per action instead of for your overall campaign. Because Facebook advertising cost ties to the cost per result, you can control your bid strategy. Or you can set an automatic bid where Facebook’s algorithm spends your budget evenly throughout the runtime of your ad.
Now, prices for advertising may vary depending on other factors, too. Targeting specific audiences affect your Facebook advertising cost, for example. You can spend as much or as little as you want on advertising. But some advanced ads require a minimum balance to work.
As a general rule, though, spending more money is key to utilising Facebook’s algorithm to its fullest. That doesn’t necessarily mean that you need to break the bank for great advertising. But the algorithm gets more efficient at spending your money over time.
Facebook Advertising Strategies
Having a Facebook ad is only a piece of the puzzle. To make it all work, you need a Facebook advertising strategy that fits your business’ needs. Check out some strategies that utilise Facebook’s benefits to its fullest:
Facebook Advertising Strategy #1 – Direct Sales
Driving direct sales through Facebook ads is a great strategy if you already have some brand recognition. It also helps to have a good product with a relatively low price point.
One of the most effective ways to make this work is to target people who already considered buying from you. This can happen in many ways like:
Reminders to complete a purchase
You can use this technique for a product or a service. Just remember that it works best if your audience already knows who you are.
Facebook Advertising Strategy #2 – Drive People to Offline Events
Expand your horizons and think beyond online storefronts.
Sure, the general Facebook advertising strategy works towards driving online store traffic and sales. But you can also promote offline buying or even offline events.
If you use an engagement objective, you can increase your event responses or traffic objectives to sell more tickets to the event.
Remember the story about PushPeak?
PushPeak founder Sasha used social media advertising to do exactly that. And the response was tremendous!
Just remember that you can track offline conversions through Facebook, too. Tracking these offline conversions can help you determine which ads are the most effective. You can also use this information to build customs audiences to further target them with ads in the future.
Facebook Advertising Strategy #3 – Convert Content Into Video
Do you have a couple of pieces of proven content?
If you have some content that you’re particularly proud of, you can turn it into a short video.
Approximately 75% to 90% of effective advertising performance is courtesy of images on Facebook. With over 8 billion daily views on average, that’s a lot of possible exposure for a company.
Before you rush to turn your key content into a video, remember that short text and images are essential. You get an increased view time of 12% on average for captioned video ads, as most users watch those videos with the sound off.
Stay Competitive with Facebook Advertising
There are over 7 million advertisers on Facebook, and 93% of marketers use this platform to advertise regularly.
What keeps businesses coming back for more?
It may be the potential to reach 1.9 billion users when you use a Facebook advertising strategy. And the odds of them clicking on an ad are pretty good. An average user clicks on a Facebook ad once every three days or 11 times a month.
Or it may be that Facebook users love to share eCommerce sites.
According to Hootsuite, in the U.S. alone, 80.4% of social referral shares to eCommerce sites come from Facebook accounts.
Facebook advertising is in a position to elevate companies like never before. And at a fraction of the cost of traditional advertising methods.
Isn’t it time you found out what Facebook advertising can do for your company?
When you’re ready to explore your social media advertising options, we can help. Contact Growth Marketing by clicking here for a free consultation.