10 Benefits of Facebook Ads that might make you question your current strategy.
Online advertising is booming, and Facebook Ads are no different. In fact, 115 billion USD (180 billion AUD at time of writing) was spent on Facebook Ads last year, and this is expected to pass 200 billion USD in the next 5 years. If your business has been relying on traditional marketing methods, moving your budget to Facebook marketing can seem like a risky move. But the benefits of Facebook Ads are almost too good to pass up on. For most businesses, big and small, running Facebook Ads is one of the best things you can do to grow.
We're not saying you need to advertise exclusively on Facebook. Actually, having a varied approach to marketing is almost always best. But we are saying that if you're not currently advertising on Facebook, you might just want to hop on board.
Below, we walk you through the benefits of Facebook Ads, how they compare to traditional advertising and whether running Facebook Ads is still worth it in 2022.
Are Facebook ads effective in 2022?
In the last couple of years, there have been a number of changes to the way Facebook Ads work which have got people questioning whether they're still effective. One of the most significant changes was Apple's iOS 14 update. iPhone users can now opt out of data tracking when visiting your site, which means a decrease in the amount of data Facebook has access to. Facebook's targeting capabilities have also been reduced.
In light of the changes, it's certainly more challenging to run effective Facebook Ads than before. But it's not out of the question. Advertisers are still putting money into Facebook ads, more than ever. Last year, 60% of companies increased their ad spend on Facebook. This tells us it's still worth the investment.
To succeed with Facebook Ads, you need a strong understanding of how the algorithm works, precise campaign monitoring and a streamlined approach. There are a number of strategies that can get your business a great return on investment, despite the challenges. We've explained a couple of these strategies in our article Why 2022 is a good time to change your Facebook Ads strategy.
How does Facebook advertising stack up with traditional media?
Traditional advertising (like TV, radio, billboard, print media etc) has its place, and can work wonders for some businesses. Generally traditional advertising gives you a big reach across multiple consumer segments. And it's often great for showcasing the creative potential of your brand. On the other hand, traditional advertising can be expensive, highly competitive and less targeted.
The benefits of Facebook Ads really lie in the targeting capabilities and the data tracking. With Facebook Ads, you're able to fine tune your targeting so that your ads are showing up for people who are more likely to convert. Compare this with a billboard that's seen by anyone passing by– you're not so in control of your audience.
Then there's data tracking. You don't know what someone does after seeing your billboard or TV ad. Do they completely ignore you or do they go ahead and purchase your product? Even if you do see an increase in sales, it's impossible to know the ins and outs of how your ads perform. But with Facebook Ads, you're able to track the data, monitor your ad performance and make real time changes to get better results.
What are the benefits of Facebook ads?
We've already mentioned tracking and targeting above, but there are a tonne more benefits that Facebook Ads can offer your business. Let's dive into them.
So, is Facebook Ads worth it for your business?
Safe to say, the benefits of Facebook Ads are big, bold and full of potential. But like most things, it's best to not have all your marketing eggs in one basket. From our experience, you get the best results with a multidimensional approach. What might work for your business, isn't going to work for the business down the road. You've got to approach it from a tailored, highly targeted point of view.
For most businesses, a healthy dose of Facebook marketing in combination with other strategies is a smart move.
The best way to find out if Facebook Ads is a good investment? Book a discovery session with our team of experts. We'll conduct thorough research into your business, industry, audience and competition. If your projected return on investment isn't looking good, we'll recommend other strategies that would be better for your business. If Facebook Ads is the right move, we can help you develop and implement a winning strategy.
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