Have you considered using Facebook advertising to reach your customers online and thought “Nah, not for me.” or “It’s just too expensive.” Unfortunately, days of being able to avoid social media advertising are over, and it’s time to embrace Facebook advertising for your business.
10 years ago, Social Media as we know it was in its infancy, and businesses were still focusing their marketing and advertising efforts directed to traditional mediums like television, print, and radio. Ahhh, what’s that sound? That’s the sound of simpler times.
Today, we’ve seen the rise of popularity of social media, and now It’s officially the end days of using Facebook as a free marketing platform. And these are our favorite reasons to hop on board the social media advertising train.
Your Organic Reach is Plummeting
If you thought your posts weren’t getting as many likes and comments as they did a few years ago, you’re not imagining it. Organic reach is down, way down.
Due to constant algorithm changes, only approximately 4% of your fans will see any of your posts organically. And not only are you competing for timeline visibility with engagement announcements, baby pictures, and photos from your friends’ vacations – you’re competing for space against similar businesses, services, and products – many of whom are increasing that visibility by taking advantage of advertising.
You can’t beat ‘em anymore by posting engaging content alone. You need to join ‘em.
Facebook Advertising is Cheaper than Traditional Advertising
SEO Experts, Moz found that $1 per day can grow your audience by 4,000 people in 2016, although results vary based on content.
Not only is Facebook advertising typically cheaper than traditional advertising, a business has the capability to pinpoint their specific customer and serve them an ad that is customized to their interests.
The most effective way to compare Facebook advertising vs. traditional media advertising is by measuring the CPM, the Cost Per 1,000 Impressions. CPM is the metric used to determine the cost of reaching 1,000 people. A recent comparative media costs review showed that social media was one of the most affordable methods of advertising.
To articulate, see the CPM comparisons below:
Direct Mail – $57 to reach 1,000 people
Broadcast TV – $28 to reach 1,000 people
Newspaper – $16 to reach 1,000 people
Radio – $10 to reach 1,000 people
Social Media – $2.50 to reach 1,000 people
Aside from the cost efficiency, another bonus to social advertising is the two-way street of communication you develop with your patrons and potential customers. You have the incredible ability to answer questions instantaneously in your brand’s personal voice.
The 80/20 Rule
In a perfect world, your page would be generating engaging, creative content on a daily basis reaching the majority of your fans. However, Mark Zuckerburg cannot guarantee this ~*perfect world*~ to all pages and profiles. A common mistake that businesses often make is to overcompensate the lack of organic reach with posting a lot of salesy call-to-actions. Like a bad cologne, less is more. Social media is still meant to be social.
Here at The Modern Connection, we always aim for the 80/20 rule when we plan content.
What’s the 80/20 rule, you ask?
It’s the cardinal rule of social media content. 80% of your posts should be entertaining, engaging, and educational, while only 20% of content should be based on promotions or sales.
TMC Tip: Make your 20% sales content beneficial to your audience to keep them returning. This includes offering a Facebook-specific discount promo code or announcing a 2 day flash sale.
Facebook Fans vs. Engagement
I hear this confusion a lot. Business owners want fans and followers, so they commonly, and incorrectly believe fans = customers. This is simply not true.
In my opinion as a Social Media Advertising Specialist, it’s much more effective to create advertisements that follow a certain objective to increase revenue, rather than increasing your follower total. Facebook advertisements are more than just reaching random people to follow you: you can drive traffic to your website, grow your email subscriber list, retarget those who have previously visited specific landing pages, increase attendance at your event, and so much more.
Invest in a strategy that focuses on increasing your long term revenue instead of growing your page with people who may or may not even be interested in what you’re offering.
Make a Difference Using Facebook Advertising
There are 65 million business pages on Facebook and 5 million who are using Instagram for Business (which is owned by Facebook). With so many businesses competing for your audience’s attention, you should get creative with your strategy and marketing.
But I get it. Like a lot of us, you might have trust and commitment issues. Oh, and you’re skeptical about spending money on Facebook too 😉
4% of business owners on a recent survey say they don’t buy ads on Facebook because they find it “too risky” a venture for their money.
Many folks don’t yet see Facebook as a legitimate advertising platform in the same way that traditional media, like print and television advertising, has done before. And they’re right – it’s not the same as traditional media.
With even a small advertising budget, a business can elevate their online presence trifold, and they’re able to target those who are most likely to become a customer or be interested in that business based on purchase habits, location, similar pages they’ve liked, income, and any other characteristic you can imagine.
Whether you are a small business, e-commerce retailer, or an international company, there is undeniable evidence that Facebook advertising can increase website traffic, sales, and overall brand awareness.
Just remember that you get what you pay for so keep that in mind when determining a budget structure and how much money you want to allocate, depending on your goals.
Not sure where to begin? Contact us today at [email protected] to discuss our full service and traffic management packages.