With over 2.3 billion monthly users, Facebook is by far the most popular social platform on the internet. Hundreds of millions of people religiously check their Facebook feeds at least twice a day, which makes the site a no-brainer for business people and marketers. Here are 5 reasons why advertising on Facebook is the best way to go for your business:
1. Access to A Massive Audience
As mentioned earlier, Facebook’s user base is almost twice the population of China, which is the world’s most populous nation. Moreover, users are spread across the 7 continents, and in more than 160 countries.
Whatever industry or niche you are in, advertising on Facebook is the most effective way to reach every prospective customer. Additionally, Facebook’s wide reach further means more people will get to know about you, even if they’re not potential customers.
2. Advertising on Facebook is Very Cheap
Considering the potential reach and targeting algorithms, Facebook is the cheapest ad platform in the world. On average, it costs about $0.25 to reach 1,000 people via Facebook ads.
On the other hand, LinkedIn Ads will cost you $0.75 to reach the same number of people, while Google AdWords charges $2.75 for the same. Apparently, you don’t even need a huge budget to market your brand on Facebook. By just spending $1 per day, you will get to reach about 4,000 people!
3. Facebook Offers Exceptional Targeting
Facebook holds an immense amount of data on its users, including age data, interests (based on likes), languages, favorite topics, and frequent locations. Thus, the platform is able to leverage this data in different ways, to ensure that your ads reach the target audience.
Moreover, the large variety of available ad formats, which include dynamic options such as carousel, canvas and video ads, makes it the best advertising platform as compared to other platforms.
4. Ability to Specifically Target Undecided Consumers
Facebook also runs a complimentary ad system called Custom Audiences, which enables businesses to remarket themselves to their best-performing audiences.
If, for instance, your normal ads targeted a general audience but only younger women (18-35) clicked on them, Custom Audiences gives you an opportunity to repeatedly target this particular group with customized content.
Since Facebook runs a PPC ad system, Custom Audiences provides you a highly effective and efficient way to spend your marketing budget. Sounds good, right?
5. Ability to Find and Reach New Qualified Leads
After finding your best converting demographic, Facebook gives you an opportunity to reach out to similar people in future. Through a feature called Lookalike Audiences, you can submit your custom audience, and Facebook will show your ads to all new users who fit the description.
Furthermore, you can build Lookalike Audiences using install data from your apps, people who visit your Facebook page or people who search for products similar to yours. Even though they are not 100% accurate, Custom and Lookalike audiences provide a near accurate reflection of prospective buyers, and considerably improve the effectiveness of your ads.
