Every online marketer should consider the growing advertising channel of Facebook. Facebook advertising can help any business, B2B or B2C, achieve their marketing goals with its specific targeting and potential low costs. If you aren’t sure whether Facebook can be fit for your business’ strategy, here are a few points to consider…
Everyone Is On Facebook
If you aren’t sure if your customers are on Facebook, let me put it in perspective for you…
Facebook has 1.15 billion active monthly users as of June 2013, and the numbers are only continuing to grow. While Facebook users still tend to be younger, according to a recent study in Business Insider the 45-54 year old age group has grown 45% in 2013 alone. In addition, 73% of internet users with incomes above $75,000 are on Facebook. The graph below also depicts that there are many more internet users on Facebook in every income bracket than any other popular social media channel.
Facebook isn’t just for US businesses either, saying that approximately 80% of their users are from outside the US and Canada. Do you think any of those 1.15 billion users would be interested in what you’re selling?
To get the best results, savvy marketers use different types of targeting to sort through all those users, right down to those who might actually buy your products. Facebook has compiled (or rather Facebook users have provided) an obscene amount of information on each and every one of us, so you can take advantage of that by using Facebook’s many types of targeting. If you know that most of your customers are 18-24 year old women who like to watch The Voice and eat chocolate chip cookies? Bam, you’re going to show me and three million of my closest friends your ad. You can create any combination of Precise Interests to target your perfect customer.
If you don’t have a perfect idea of your customer, advertisers can also target users with precise interest suggestions, broad categories, education level, connections, relationship status, workplace, and much more. Using different targeting methods, Facebook targeting can be much more specific and helpful than almost every other online marketing channel.
Using a combination of specific targeting and bidding strategies, Facebook can be a cost effective marketing channel for any advertiser. With options to bid for clicks, conversions, or impressions, advertisers can spend their money on achieving their exact goals, whether it is more engagement, more conversions, or more of anything else. Keeping track of what’s doing well and making adjustments quickly is relatively easy using Facebook’s simple reporting features.
For one B2C client here at Search Mojo, Facebook’s average cost-per-lead (including post-impression conversions) is 71% lower than AdWords average cost-per-lead (including view-through conversions), and 77% lower than LinkedIn’s average cost-per-lead. Keep in mind these numbers can vary depending on your business and target market.
With the appropriate targeting and bid strategies, any business can have a successful, cost effective Facebook campaign. Do you have any questions or thoughts on Facebook advertising? Tweet me @smb1213.