Businesses, whether backed by products, services, or the mere promotion of yourself as a brand (i.e. social influencers), have taken to the web to widen their reach. Social media is at the helm of it all, the pool where the make-or-break of advertising takes place today.
So then what are the perks of FB advertising and what is the cost of Facebook ads?
Facebook Ads: A Brief Summary
Facebook ads are a category of social media advertising, whose reach is based on targeted audiences. These revolve around variables such as demographic, region, and even profile information.
Unlike traditional advertising, FB ads (and their amazingly complex algorithms therein) can meet specific markets that have the highest likelihood to purchase specific products and services. That is, based on the information listed in the paragraph before.
Call it an upgrade to its conventional, old-school alternative that worked on randomly random numbers and streams.
Facebook Ads: What Are Their Benefits?
To the more interesting (we hope) part. How can these types of ads benefit you? Or your business? Or your brand?
1. 2.8 Billion Facebooks Users
A census for the number of FB users around the world was conducted in 2020. The result? A staggering 2.8 billion. That’s how much of the population use the social media platform. And in the context of “business”, that’s how large of a pool you can harvest clients and/or customers from.
Yet so many businesses from various industries fail to see the prospect of growing their business within this gargantuan scope.
People are becoming less and less reliant on traditional mediums for advertising. Even if some of them remain staunch followers of the newspaper and of T.V., the fact is that the world’s population spends more time using the network of said social media giant than most other mediums.
2. Facebook Usage: 58.5 Minutes Per Day
With number 1 comes this equally staggering information on number 2: active Facebook users spend an average of about an hour on the platform, per day. Every. Single. Day. This means that you can target them with your brand’s advertisements and potentially increase visibility on an every-day basis.
Increased visibility leads to brand awareness, not only to customers but to potential business partners as well.
3. Targeting And Retargeting Tools
Facebook is very smart (to oversimplify what they do and for lack of a spot-on term) with how they conduct their ads’ targeting frameworks and operations. What’s important here is that they are all available to you.
Targeted advertising is about reaching the right kind of audience who may be more inclined to cater to your business than the rest. It’s sifting those who are least likely to give you the time of day away from those who actually might. No dollars wasted. Higher ROIs from here on.
Besides being able to zero-in on the right audience, targeted advertising will provide you with relevant information in campaign creation. It will aid you in utilizing advertising resources that can significantly move the campaign forward. The list goes on, beyond and outside the box of traditional ad-making.
How Much Do Facebook Ads Cost?
The answer isn’t as simple as the question. Still, here’s a rundown of a few estimates. The starting point frequently has ad costs having a going rate of $0.97 for every click (“per click”). 1000 impressions (an impression is what’s deemed as every available time that your ad can be seen, once it reaches the screen of the FB user) may equate to $7 and above.
Now that the cards are on the table, the beauty of FB ads is that even their costs can be customized towards your advertising and business needs.