Facebook Ads, the most powerful advertising platform everFacebook has over 1 million data points on every single one of its users
Use the most successful advertising platform that has ever existed
There is absolute no doubt that Facebook is a successful advertising platform and the best at that. It’s worthwhile understanding why that is the case. What exactly makes Facebook unique in comparison to Google and others?
- Facebook has a lot of data on its users: over 1 million datapoints stored on each and everyone of its 2 billion users. This enables Facebook to provide advertisers with very effective targeting options.
- There is no barrier to entry: anyone and I mean anyone can fire up a set of Facebook ads to see how they go.
- Nearly everyone is on Facebook
- People use Facebook a lot: in comparison to LinkedIn and other social networks, Facebook users are far more active, meaning the opportunity to present your ad in front of your selected audience is very high.
Nearly every client that comes through the door wants to start investing in Facebook ads and content marketing, the important and great thing is that they are seeking professional help to do it. There are real challenges with Facebook now as advertisers are jumping on the bandwagon, which is pushing DIYers out of using Facebook.
- Facebook ad prices are rising: because of the promising results and the low cost of Facebook ads, there is ever increasing competition to use the platform to reach new customers. Facebook runs on a auction based system so the more someone is willing to pay for an ad placement, the higher the costs.
- Competition is increasing: people have a lot of interests, follow lots of pages and are relevant to so many different industries. So the likelihood that another advertiser is going after the same person is high. Given advertisers are showing increasing interest in Facebook, the need for the ads to be relevant is growing.
- Facebook rewards great content and ads: Facebook’s newsfeed algorithm is incredibly complex and while its a black box to us and every other advertiser, the principles are pretty simple. Over time the algorithm has been optimised further and further resulting in poor content getting low viewership and great content going viral.
When Is Facebook right for me?
I know exactly who my customer is
Advertising on Facebook is about putting ads in front of people who are unaware i.e. they are not in the market for what you are offering. Success with Facebook ads is purely dependant on knowing who exactly to target based on prior knowledge of their likelihood of converting into a customer / client.
I can offer something valuable to an unaware audience
To convert someone into a client / customer who isn’t in the market, requires significant value proportional to the cost of the product or service in the eyes of your audience. Do you offer something that is compelling enough for people who have never seen you before to seriously consider?
When Facebook may not be right for you
I am just getting started in business
When people setup their business, this usually involves setting an account up on Facebook, Instagram, Twitter and every other social network under the sun. The key to success is picking the right tools to get started so you are not wasting time or money at such a vulnerable point. If you are just getting started and there is a market for your product, people are likely searching on Google for it, advertise there first.
I offer something that someone would only take up if they were in the market
Facebook is smart, but it still has a long way to go before every person that sees an ad turns into a client / customer. As mentioned previously, Facebook ads deal primarily with unaware audiences. So if you’re trying to sell a product or service that someone will only consider when they need it, Facebook is not the right place for you.