In the age of digital marketing, there are specific online different marketing channels that can be employed to promote a business, product or service. In this post, we will discuss why Facebook Marketing is one of the most effective digital marketing channels available and why you should consider it if it fits your business.
Facebook Marketing Gives Marketers Access to the Largest Group of Users
There are 2.74 Billion monthly active users on Facebook. This means that Facebook marketing is providing businesses with an amazing opportunity to market to almost 1/3 of the world’s population. With an average user spending around an hour on the social media platform every day, marketing opportunities abound with this highly engaged audience.
Facebook owns 4 out of the top 5 most used social media platforms in the world, clutching the coveted first place for itself. Due to how the Facebook marketing and its ads platform works, data is collected over all its channels and is used to identify individuals and build a specific marketing profile of each person based on their likes and interests. More on this in the next point.
Facebook Marketing Helps You Reach the Right People
As mentioned above, Facebook is exceptional at targeting the right audience. Unlike Google search ads that show up for people who are specifically searching for something, Facebook ads can be used to target people based on their occupation, behaviour, demographics, interests, age, language, location and even life milestones.
Facebook is perpetually collecting data through its channels, and because of that, targeting is an absolute boon for marketers. Based on Facebook’s algorithm, they are able to identify your likes and interests across their platforms down to a tee. For example, Facebook is able to identify if you like dogs or cats simply based on the pages and posts you have interacted with.
With that in mind, if your business is a pet shop and you are trying to market a specific dog toy, through Facebook, you can specifically target people that Facebook has deemed to like dogs. This is vastly superior compared to the old way of carpet-bombing by marketing through newspapers, radio ads, and even tv ads.
Facebook Marketing Boasts the Lowest Costs
Facebook marketing is cheap. Extremely cheap. On average, to reach 1000 people, it only costs US$0.25. As a point of comparison, it costs almost US$35 to reach the same amount of people through a newspaper ad. That is a whopping 140x difference.
Facebook is one of the cheapest, if not the cheapest of all the advertising channels, be it online or offline.
The fact that costs are so low also means that there is much room to tweak and optimize your campaigns to make the most out of them. By doing so, you can slowly increase your budget only when you find a winning combination for your ads, as compared to worrying about spending thousands of dollars upfront on other platforms that might not even bring you any results.
Facebook Marketing Gives You Access to Retargeting
Similar to AdWords, Facebook also has retargeting capabilities that span across its different social media platforms – Facebook, WhatsApp, and Instagram.
Using the Facebook pixel, marketers are able to track visitors to your website. Facebook then takes that data and matches it to the individual’s Facebook profile for you to retarget at a later date to try to get them to go back to your website once again. This is important because it is very unlikely that a conversion would be made from a prospect’s first visit to your website. After all, it has been noted that around 8 touchpoints are needed to make a sale in our time and age.
Facebook Marketing Builds Engagement
Authenticity and social proof are paramount on social media platforms. An amazing function that Facebook ads come with is the ability for anyone to like, comment on and share your ads.
When there is a lot of engagement on an ad, it is more likely that more people would be curious to see what exactly is the buzz surrounding your product or service and they would be more likely to click on your ad.
On top of that, due to how people can engage directly with your ad, you can get even more bang out of your marketing adspend when people who have seen your ads tag their friends in it.
Now that you know why Facebook is one of the most effective digital marketing channels available, the next step is learning exactly how to run these campaigns.
Check out these 5 tips on how to run a killer Facebook marketing campaign.
If you are unsure of how to run these campaigns yourself, you can engage professionals, or even better yet, tap into the new Digital Growth Subsidy that supports up to 50% of strategy and marketing costs for eligible businesses in Singapore and Malaysia.
Find out more about the Digital Growth Subsidy here.