07 Jul Buying Facebook Ads – Is It Worth The Investment?
Facebook ads could either be a great way to advertise or could simply be a waste of money depending on who you ask. The truth however lies somewhere in the middle. By going into it with your anticipations well under hand and by handling your adverts properly you could have a much more positive outcome.
According to comScore, Facebook ads increased purchases by up to 38 percent for those who were exposed to them over those who had no exposure. Conversely, Reuters polled asking people whether ads – and/or comments – had influenced purchases. Out of those polled a whopping 80 percent answered in the negative. So who is right? Was the comScore study influenced by the fact that Facebook co-sponsored the study? Do people simply not realize the power that such ads have over their decision making process?
This is why many small businesses are left asking whether buying Facebook ads is worth the investment.
The first thing that small business owners need to look at is what sort of benefits such ads offer. To this end, one thing to keep in mind is that Facebook ads create lists. Rather than being like blanket email marketing, Facebook ad lists offer a great deal more control in the data. Traditional advertising like print or radio simply does not give you such a list. Facebook ads on the other hand allow you to create just such a list of potential clients.
Not only can you build lists, you can target the people or groups that you want to draw to your lists. No matter if you are looking to attract people that live in a certain area or even work for a certain business, Facebook ads allow you to do just that. This means that you can be sure that your ads hit those who will be much more likely to respond to your ads rather than just sending out a blanket ad and hoping it sticks to at least some of the individuals that view it.
Making sure that your Facebook ads are worth the investment involves more than simple targeting however. It can depend heavily on the demographic you are targeting as well. Small businesses targeting locally can have great success if they attract Likes from people who live in the area by offering coupons, special offers or even promoting a special event. The key in such a case is to create an incentive so that these people will want to share the offers allowing others to see it as well. This ability to create potentially viral ads is just one of the benefits.
Soft offers – those designed to engender brand awareness – go a long way with Facebook ads. Try doing giveaways or discounts aimed toward snagging attention without falling into the trap of pushing for a hard sale. The sales will come as long as you first get on people’s radars and get them talking about your brand.
At the end of the day it will be important for you to ask yourself whether you want to make the investment in Facebook ads or not. It may be beneficial to give it a trial run just to see whether or not you could expect results. Remember though that the cost of Facebook ads can vary depending on your chosen demographic, the layout, and more. Do not go into the process without carefully deciding who you wish to reach and what sort of offer you are willing to send out to your target group.