Facebook is one of the most popular digital marketing platforms on the planet. As the number of Facebook users has grown to more than 2.85 billion active users, its advertising network has also grown to cover a wide range of businesses.
Now many of the benefits of your Facebook presence are quite obvious, but advertising makes things a little more complicated. It is important to understand what Facebook has to offer businesses and how its ad network has been set up to offer many advertising options, before you see how it can help you reach new audiences.
Facebook's market share for online advertising is close to 20%, earning the second place globally, behind only Google. In addition, the coronavirus pandemic has caused unexpected changes in online advertising. Due to the large conversion of the market to eCommerce, Facebook had particularly high turnovers in 2020 and 2021 (so far). In addition the average cpc is lower than last year. As people have adapted their shopping habits to eCommerce and online shopping continues to grow, it makes sense to think about the benefits of Facebook advertising for your business. eCommerce is here to stay for all businesses and the advantages of Facebook advertising over its competitors make it a smart choice.
Facebook's advertising model works with the classic "pay-per-click" model, which has become the most popular online billing model for advertising. For the reasons that made PPC the most popular billing model, for the same reason the benefits of Facebook advertising are also amazing: it is affordable, effective and fast!
So we wrote this article on our blog to help you understand and take advantage of the advertising benefits of Facebook. We have gathered the 5 most important of them for you and your business and we list them below.
How many of them do you already enjoy?
1. It has the best return on investment of all the advertising channels
Entrepreneurs and marketers often wonder: Do Facebook ads really work?
Of course they do!
Wolfgang Digital 2020 KPIs research suggests that ads on Facebook users' feeds are the most effective type of advertising for eCommerce. Facebook dominates with Facebook Feed, Messenger and Marketplace ads, which hold all the top positions in the rankings. In addition, according to Statista, 41% of marketers claim that Facebook gave them the best ROAS (Return-On-Ad-Spending), placing it at the top of the most popular advertising channels.
This puts it even ahead of Google Shopping!
Compared to other ads on different channels, users are more likely to click on ads they see in their Facebook News Feed, making them the best choice to invest in your advertising budget.
80% of all referral clicks on eCommerce websites are made by Facebook and its absolute dominance means that Facebook alone is responsible for 40% of the total revenue worldwide for display ads!
Again a bigger percentage than Google!
2. More advertising options for your business needs
Another advantage of Facebook advertising is that it offers a wide range of ad types that some are not available on other advertising channels.
There are many types of ads to choose from and promote your eShop on Facebook:
One of the benefits of Facebook advertising for your business is that you are not limited to certain types of ads and are not locked into plain text ads (as is the case with Search Ads). These types of ads are best suited for branding, as they enable marketers to create ads with visual, creative and graphic media with videos, photos, text, etc.
3. Facebook ads are low cost and bring immediate results
The cost of Facebook ads is determined by many factors (your budget, your ad types, your products etc.), but generally the cost is a few cents per click.
So you can understand that Facebook ads are low cost.
In fact, last year the average cost per click decreased by 6%. And according to data from Wordstream, clothing retailers, caterers and other online retailers receive the lowest cost-per-click (CPC), on average. This means that for you the cost can be 0.01 to 0.70 €. The total average cost per click in all sectors (including expensive sectors such as insurance, pharmaceuticals, etc.) is € 1.45 worldwide but for eShops it is even lower so do not worry.
So ads are ideal for eShops that want to implement both short-term and long-term strategies, as ads can start to bring you revenue and sales once they start running.
Once ad campaigns are created, their Facebook learning period is up and running, they start working immediately and promote your products to thousands of people who have shown interest in them. The ads are normally approved within 24 hours (of course due to COVID-19 there may be additional delays), so you will experience the speed and efficiency of sales from the first days!
4. Facebook Retargeting
Retargeting means advertising to an audience or visitors who have already interacted with your brand or have shown interest in your business.
One of the advantages of Facebook advertising for your business is that you can use this strategy to increase revenue, increase conversion rates or achieve better ROAS.
This strategy works by using Facebook Pixel, a small piece of code that is installed in your eShop so you can retarget your customers and visitors. It monitors users along with the various actions they take in your eShop, such as all the Facebook ads they saw before they visited you, the pages they visited, abandoned shopping carts and more.
In addition, Facebook advertising benefits your business by enabling you to include dynamic ads that can retarget users who have previously bought from you!
5. Facebook ads will improve your overall performance in digital marketing
The efforts you make to promote your eShop on Facebook are very important and you should continue making them!
Facebook ads can be used to enhance an existing content marketing campaign that you are already run and includes the posts you make on social media, the articles you have on your blog or even the SEO done by your developer. Facebook can help in all these areas.
Ads can help a business get more exposure for their Facebook content and increase traffic to their website. Facebook ads can be adjusted to get more traffic to your eShop, more impressions and improved click through rate (CTR).
Combining your content with the power of ads will bring improved results for you. This is why Facebook is one of the most popular advertising channels out there and small businesses prefer it for their digital marketing activities.
As we have seen, advertising on Facebook can combine a wide variety of low cost options and can improve the marketing activities you are already doing. So, do not sit idly by, choose your products, calculate your budget and you will immediately see your sales and income skyrocket!
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