Advertising on Facebook is a quick and easy way to get a targeted audience engaged with your business at an affordable cost. There are a wide variety of in-platform advertising opportunities that make it a good fit for a wide variety of businesses, and its ease to set up and cost effectiveness make it a perfect fit for a small business. As a small business owner, you might be wondering what you can use Facebook advertising for, what unique value it brings and why you should act now on Facebook as opposed to other advertising channels. Let us break it down for you.
Different kinds of Facebook advertising
There are different kinds of advertising opportunities on Facebook but we are going to stick to the ones offered within the Facebook platform which includes promotions for sponsored content, page likes, clicks to website, website conversion, video ads, app installs, app engagement, offer claims and event responses. These different kinds of advertising options let you pay for the desired behavior that matches your business needs most, this is different than traditional search marketing which only focuses on user clicks.
Why is Facebook advertising unique
On Facebook you can target audiences based on location, job title, language, age and other common demographics. Facebook also lets you target people by interest, so you can do a much better job of finding people with a particular job title or industry who are interested in your product or service type. This offers your business real opportunity to find the audience that matches your ideal prospects and to only pay for advertising to the audience that is a match for your business.
Why your business should act now
Right now Facebook is very cost effective with the average cost per click (CPC) or cost per impression (CPI) being much lower than other channels available to small businesses. Some sources have sited that the CPI is as low as .25, which makes it the lowest in the pack for major social media channels and far lower than traditional search engine marketing. While the average costs to run a Facebook campaign are expected to increase in 2015, it will still likely remain a highly cost effective channel. What makes Facebook particularly effective compared to traditional search marketing is that the low CPI is coupled with the ability to target an audience, meaning that your impressions are made on who you, as a business, value the most.