23 Mar Are Facebook Ads Worth It For Small Businesses?
It’s no secret that social media is the power tool for small businesses to increase site traffic, generate leads, and increase revenue. Out of all the social media platforms available, Facebook ads rank number one as marketers’ first pick for digital advertising.
Facebook is about more than just staying in touch with friends and loved ones – it boasts a 37% increase in Facebook ad impressions just in 2019 alone. With over 1.62 billion active users daily, there’s no time like the present to launch the Facebook ad campaign you need to take your business to the next level.
Targeting Your Audience & Beyond
Part of why the right Facebook ad campaign can be so powerful for small businesses in particular comes down to the ways in which ads can be targeted to the specific demographics that matter most to you. By tailoring your ads based not only on location but on factors like age, gender, interests, behavior and even connections, you can easily get those ads in front of the people who were already most likely to become one of your customers.
Additionally, Facebook gives your small business the power to grow beyond your target audience by creating “lookalike audiences” that have made similar purchases as your current customers. These lists are customizable and serves as a valuable tool for small businesses to not only increase exposure, but also improve engagement and ad revenue simultaneously.
Advertising Through Different Mediums
Equally powerful are the many diverse ad options that Facebook offers. As opposed to the simple pop-up advertisements that many of us are familiar with, Facebook offers:
- Image ads.
- Video ads.
- Story ads.
- Collection ads and many, many others.
Nowadays, it’s not enough to have a stagnate image advertising your product. How you present an ad creative affects click-through rates and can be monitored through the Facebook ad campaign tools. Knowing what metrics to analyze will help you identify successful aspects of a campaign and areas you need to improve on.
Remarketing Is Your Best Asset
Remarketing is the process of showing an ad for your business to someone who has already engaged with your brand in some way. This is a valuable strategy to always stay at the top-of-mind of potential customers. Even if they weren’t ready for a purchase during their initial visit to your site or interaction with your mobile app, they’ll still see your ads when browsing Facebook – once again boosting engagement and increasing your CVR by three times or more in many cases.
So in the end, the answer to the question “are Facebook ads worth it for small businesses?” is an enthusiastic yes. Even if the many diverse ad formats weren’t enough, the finely tuned targeting options and the size of Facebook’s user base are opportunities that only come along once in a generation.