In a world where email still delivers some of the best marketing results, many teams often find themselves asking the same question: “How effective is Facebook advertising?”
Social media isn’t going anywhere, and while many people gripe about Facebook’s content rule changes and other updates, they still keep coming back. Why? Facebook is familiar, simple to use, and already has the connections people are seeking.
In the first quarter of 2019, 1,562 million individuals were using Facebook daily.
Note: This chart shows the number of daily Facebook users worldwide in the millions
With so many people using the social media platform, it seems counterintuitive for digital marketers to ignore this digital channel for acquiring new leads and connecting with their customers, and yet some still do: For some digital marketers, Facebook advertising may seem difficult to learn.
Read on to learn more about it and whether it’s a tool you could be using in your campaigns.
What is Facebook advertising?
Facebook advertising involves running ads on the social media platform for the public to see. These ads often work as a call to action and include a link to either a brand’s Facebook business page or a given landing page on their website.
Facebook ads appear in several different places, and it comes down to whether an individual is using Facebook on their desktop computer, tablet, or mobile device.
How does advertising work on Facebook?
There are several steps to creating a Facebook ad, especially one that resonates with your audience.
You’ll first need to pull up your Facebook Ads Manager. Next, you’ll be asked to choose an objective for your ad campaign. Here, you’ll define the purpose of your ad. Examples include:
- Raise awareness/interest
- Raise consumer consideration of your product/service
Next, you’ll want to define your audience and your budget for the campaign.
Facebook will ask you several questions to help create the ideal audience for your ad. This will ensure that it’s displayed to the right type of individual, not simply to the masses.
Source: Word Stream
From there, you’ll begin designing your Facebook ad and start running your campaign.
How to measure the overall success of your Facebook advertising
Once you’ve launched your Facebook advertisement, you’ll want to carefully monitor how well it’s performing. But how?
Unlike monitoring your page outreach and engagements per post, there are several important metrics that you’ll want to monitor when determining the success of your Facebook ad.
Conversion rate ranking
The conversion rate ranking helps to explain how exactly your ad’s “expected” conversion rate will compare to other Facebook ads with the same objectives and similar audiences.
In other words, this metric helps you to visualize the overall likelihood that your ad will end with someone completing an action (such as making a purchase).
Cost per click (CPC)
The CPC is the cost of an average click from your Facebook ad to your website. If you’ve got a high CPC and low CTR, then you’ll know that your ads aren’t sitting well with your audience and it’s time to rethink your approach.
Click-through rates (CTR)
This is the percentage of individuals that have clicked on your website after they saw your ad. Higher CTRs will tell you that your Facebook advertising is working well and getting viewers to your website.
Cost per action
The cost per action defines how well your ad is generating actions and at what cost to you. Facebook defines this metric as useful because marketers can control how much they pay for specific actions, such as what you pay on average for link clicks instead of impressions.
So Are Facebook Ads Really Worth the Time and Investment?
With 98% of social media marketers worldwide saying that Facebook produced the best ROI in 2016, Facebook Ads seem to be worth it for most people. That being said, try them out to see if the ROI is worth it for you and your business.
Social media is now a concrete method of communication for people and businesses alike, so it’s essential for marketers to know that they could see a valuable return on investment through social platforms like Facebook advertising.
Nearly 98% of social media marketers worldwide said that Facebook produced the best ROI in 2016.
So is Facebook advertising really worth it? The statistics speak for themselves. Smart marketers will know that combining social media marketing with their email marketing strategy will only help increase overall brand awareness.
Now that you know just how valuable Facebook advertising can be, you’ll want to start creating an email list from those that choose to follow your brand on the social media platform. It’s really not as complicated as you think, and we help you break it down in this “How to” article.