How Relevant Is Facebook Advertisement To Your Business
September 23 , 2016 | Written by: Azhar Siddiqui
Today social media has become a treasure trove of opportunities for generating sales leads and creating loyal customers. And Facebook with its globally wide reach is the most popular choice of marketers and businessmen worldwide. It has been aptly nicknamed as the “King” of all social networks.
Placing advertisements is one way of capitalising on the power of Facebook and utilising it to increase your business profits. Top reasons for placing advertisements on Facebook would be:
- Over a billion users Statistically speaking Facebook has about 1.28 billion monthly active users. In fact it is one of the most visited websites second only to Google. Hence the sort of exposure that advertisements placed on Facebook would get is simply beyond comprehension.
- Targeted advertisement Facebook enables businessmen to target niche audiences relevant to the product or service that they are selling. The selection of this niche audience can be based on age, profession, personal interest etc. Specific keywords present in the advertisements, enables Facebook to place the advertisements on pages which can relate to those keywords.
- Increase customer loyalty Creating a business specific fan page enables relevant users to join it. This page will also enable you to interact directly with your customers thereby helping you to build a loyal customer base and also build your own brand.
- Offer special promotions The fan page of Facebook can be used as a great tool to increase awareness about, launch and market new products or even ad campaigns. In fact keeping the page updated will keep the users educated about any new changes made to an existing product. Ongoing special offers and sales promotions can also be brought to the notice of the users by flashing them on the fan page.
- Flexibility Advertisements placed on Facebook are much more flexible because they enable the creation of advertisements with:– Additional character lengths and
– Embedded images and visuals.
- Audience engagement Facebook users not only take in information already present there buy also help to create new information. This results in the retention rate going considerably higher thereby also increasing the visibility of the advertisements placed there.
- Multiple ad-views It has been statistically seen that Facebook users visit and revisit the website a number of times in a day. This enables them to get multiple views of the advertisements placed there, thus retaining the contents of the advertisement in their memory for a longer time.
- Inexpensive It is possible to place advertisements on the Facebook for as little as £1 per day. Shocking isn’t it, but absolutely true. And it goes without saying that it is possible to reach an unlimited number of users fulfilling a specific criteria. There are currently four types of bidding structures offered by Facebook. They are:
Since you can customise your advertisement based on the bidding structure you choose, you are able to get the maximum benefit by investing the least amount of money.
- Cost per mile or CPM This increases the exposure and awareness of your brand by making the advertisement visible to more people. This is because the process is of bidding for every thousand impressions.
- Cost per Click or CPC this is a per click bid wherein users have to click on the advertisement placed on the site and you have to choose the maximum allowable bid per click.
- Optimised CPM or oCPM This type of bidding allows Facebook to place your advertisement on the Facebook pages of those people who are most likely to take action on your advertisement.
- Cost per action or CPA This bid works best if you want users to some specified action on seeing your advertisement.
With mobile internet rapidly gaining popularity and Facebook being mobile optimised, billions of people access it through their smart phones. Thus Facebook increases the scope of your advertisement wherein you can reach people using their computers, tablets, laptops or Smartphones.