Back in 2004, probably no one would have guessed that Facebook would become the powerhouse that it is today. As it boasts in excess of 1.5 billion daily active users, it’s safe to say that it has become part of our daily lives. As of now, analysts don’t see the social media giant going anywhere. For many reasons, Facebook advertising is considered as one of the most dominant and profitable marketing channels on the internet. Why? Because a massive 50% of digital ad spend is utilised on Facebook alone in countries like the US, Australia, UK and Singapore. Nowadays, there are not many marketers who don’t believe in the incredible power of this platform; that’s because the numbers speak for themselves. For example, almost 80% of consumers say they’ve discovered (and better yet, purchased) a product they’ve discovered through Facebook. This platform can work for anyone who takes the time to master its intricate network. For our money, Facebook and its subsidiaries (aka Instagram) will continue to be the most effective advertising platform for connecting with consumers and generating sales. Let’s now look in more detail at four reasons the platform is the top advertising channel globally.
Setting up a Facebook campaign is fast and can potentially yield excellent results. You can start driving traffic to your website for as little as 10 cents per click. Anyone can easily open a business manager account, set a payment method and limit and create a campaign in minutes. Best of all, when compared to ads on other well-known digital channels, such as Google, getting started is relatively simple and generates better ROI and organic reach.
As discussed in the introduction, Facebook has an incredibly large user base; that’s why reaching your ideal target audience is so easy. Facebook is basically one large data reservoir, through which you can specifically target your ideal customers, for example, 20 to 40-year-old males who live in London, like video games and high-end sneakers. Put another way; you can target people based on their age, gender, location, likes, interests, past engagement, pages they like and so forth.
The other great thing about Facebook is that you have a lot of flexibility when it comes to the style and format of your ad. For example, you can create a carousel ad, video ad, image ad and so forth. You’re able to customise almost every element of your campaign, such as the design, copy, landing page, placement, target audience, bidding strategy and delivery optimisation. Not to mention that based on your goal, the platform can suggest one of eleven different “ad objectives” to meet your needs.
Facebook is continually adding more features and improving the user experience for both everyday users and advertisers. In large part, this is how the platform mains its tight grip on usage, by constantly evolving and changing with the times. Every time the network pivots, it gains greater power and usefulness. The sooner you join Facebook advertising, the sooner you’ll be making big bucks. Keep in mind that as of January 2020, it was estimated that 28.5% of the world’s population was using the platform. As impressive as that number is, keep in mind that a further 70% of the world’s populace are yet to engage and open themselves up to social media advertising.