Benefits of advertising on Facebook to grow my business
As an entrepreneur, you wear many hats. You may be an expert in your particular product or service, but you will find that in order to grow your business, you have to master additional functions that you may not be familiar with. One of these is marketing. An effective marketing strategy is critical to the success of any business. Regardless of the nature of your business, knowing how to appear in front of your audience and convince them to buy from you is a must. Nowadays, marketing is largely done online. While digital marketing may seem intimidating at first, it makes effective marketing strategies accessible to everyone. Even with a tight budget, you can use digital advertising techniques to start and scale your business. Facebook ads are one of the main channels for entrepreneurs, so let's find out exactly what they are and how they can work for you.
Benefits of advertising on Facebook to grow my business:
What are the benefits of advertising on Facebook to grow my business?
What are Facebook ads?
Facebook advertising is one of the most important and powerful online advertising platforms. Since Facebook is used by billions of active users daily, many of whom have years of data on the platform in terms of their hobbies, interests, and likes, Facebook has a massive amount of data that you can harness to efficiently find your target audience.
Are Facebook Ads Effective for Small Businesses?:
Even if you're convinced that Facebook ads can be effective in finding potential customers, you might be wondering if it's really possible to do so with a small budget and a bit of current exposure. The truth is that anyone with a Facebook account and a business page can create an ad account and start running effective ads right away for just a few dollars a day.
If you have a small business, the Facebook Ads platform is one of the most powerful tools available to you to grow your business.
15 reasons to advertise on Facebook:
If you're not convinced, let's dive into 15 reasons to use Facebook ads as part of your overall marketing strategy.
1. Your audience is already on Facebook:
No matter what product you make or the service you offer, there is likely to be an audience of people on Facebook that will pay for it. With such a huge user base, you can be absolutely certain that your target audience is actually using Facebook.
Sure, it may take some tests and trials to get your ads to show in front of the people who are most likely to become paying customers. But, unlike other social platforms, Facebook is so widely used across so many demographics that the chances of finding your audience are very high.
2. Affordable Facebook Ads:
To get started, you can organize your advertising campaigns so that you only spend a little money each day. As you get more comfortable with the platform and test different advertising strategies to see what's most effective for your business, your return on advertising spend (ROAS) should improve.
Unlike most traditional marketing methods, you do not have to spend thousands up front without any guarantee of return on your investment. Instead, you can spend as much as you like and constantly adjust your strategy to make it more effective. All the while, keep configuring your targeting data on Facebook so that it better understands how to reach your target audience.
3. Effective Facebook Ads:
While marketers are always trying out new technologies and platforms, Facebook still offers the best return on investment (ROI) as of 2021, according to HubSpot's State of Marketing report. This means that Facebook remains the most efficient way to spend your marketing money, and it should be the platform you focus on the most.
The second best platform for marketing your business according to the same report is Instagram, which is also owned by Facebook. Since you can run Instagram ads from Facebook's advertising platform, it's safe to say that learning how to use the platform is a must for your small business' marketing efforts.
4. You can be more specific when targeting your audience:
Facebook has many targeting tools built into the platform. Since the Facebook algorithm knows a lot about its users, you can target your audience by criteria such as gender, geographic location, age, occupation, interests, and relationship status. By using these criteria, you can increase the chances that a greater percentage of people who see your ad will become potential buyers.
The more data Facebook collects about your specific target audience, the more powerful targeting tools you will be able to use like lookalike audiences. Similar audiences are made up of similar users to previous customers or those who have already interacted with your ads, so they are more likely to convert to paying customers.
5. You can use Facebook to retarget potential customers:
Another powerful way to reach potential buyers is through retargeting. This means that Facebook will show your ads to people who have visited your site, subscribed to your email list, or interacted with your ads or page before. These users have already shown some interest in your offer, so they are more likely to convert.
6. Facebook Ads are easy to setup:
It only takes a few minutes to set up a Facebook ad. This process is quite straightforward because Facebook will tell you exactly what to include in each area. Since it is a widely used platform, there are also comprehensive step-by-step tutorials that you can follow online that go into details on how to use targeted Facebook features.
7. Facebook gives you access to simple analytics:
With traditional forms of advertising, it has been very difficult to gather data on campaign success so that you can improve your next campaign. With Facebook, you can access analytics and data that provide valuable insight into your campaign's performance.
For each ad you run, you will be able to see how many people reached it, how many likes, shares and comments it received, and how many link clicks it received. Most importantly, you can see which purchases are attributed to each specific ad. This enables you to do A/B testing, where you run multiple campaigns or ads to see which approach leads to the best conversion rate.
8. You can customize the call-to-action button:
You can customize the call-to-action (CTA) button on your ad to apply to your specific business. For example, you may have a product or service with a longer sales cycle. The "Buy Now" button may not be suitable for your ad. Facebook Ads Manager lets you choose a more appropriate phrase like “Apply now,” “Sign up,” or “Learn more.”
9. Facebook Ads Support Your Organic Marketing Strategy:
You can use Facebook ads in conjunction with an organic content strategy to boost your reach without spending more. Since Facebook is ultimately a social platform, creating a page for your company with engaging and shareable content types can drive organic traffic to your website without increasing ad spend.
10. You can use multiple advertising objectives:
With the Facebook Ads Manager, you can get specific information about your ad goals. Since Facebook's algorithm knows your user base well, it will show your ad to different people depending on how you set the target.
For example, if you choose the Conversions target, it will show it to those who are most likely to buy now. However, you may have a different strategic objective for your campaigns, such as website traffic, app downloads, or email signups, to support your email marketing strategy. You can even run multiple ads with different goals at the same time.
11. Easily expand your ads to find new potential customers:
Once you find a promising ad that converts with the audience you've selected, finding new leads is as simple as expanding your ad. You can do this by increasing the budget you allocate for this ad per day. You can also create a new ad, for example, for a different product of yours that will attract and target the same audience. When it comes to growing your reach and standing up to new, quality customers, Facebook Ads Manager is a powerful tool.
12. Use the power of custom audiences:
While marketing to a wide audience can be effective for some businesses, a custom audience may be your path to success when marketing on Facebook. Custom Audiences is a targeting tool within Ads Manager that allows you to focus narrowly on a specific type of potential customer.
For example, if you already have a large email list of people who have indicated you can market to, you can upload it to Facebook and have your ads target that audience. Then you can create lookalike audiences from that list to reach more potential buyers.
13. Be specific with targeting options:
There is a creative component to creating successful Facebook ad campaigns. In addition to engaging images and copy, getting creative with targeting options can be a very effective way to increase your revenue.
There is a huge range of niche interests on Facebook. Consider what interests your ideal customer that your competitors might not, and then target them.
14. Your competitors are already using Facebook ads:
Speaking of your competitors, it is worth noting that no matter what your industry is, we can bet that your Facebook competitors are also way ahead of your target customers. You don't want to lose all that potential business.
In fact, Facebook has a handy tool that allows you to view any ads your competitors are currently running. Simply go to their page and click on Page Transparency. You should never steal or copy their ideas, but looking at your competitors' ads can be a great source of inspiration when designing your own.
15th. . Facebook Ads Will Fit Your Budget:
Whether you have a generous marketing budget, or you are just starting out and want to keep your marketing costs low, you can still make Facebook marketing work for your business. Any good advertising strategy should include online advertising, and there is no better way for small business owners to get started than with Facebook ads.
When you learn more about the advertising process and begin to see a return on your ad spend, you can always increase your budget.
You don't need an advertising agency or a professional to start using Facebook ads. Getting to know an ad manager is well worth the effort, and can lead to effective and scalable growth for your business.