In 2018, it should come as no surprise to business owners and service providers that Facebook is an ideal digital marketing medium. The platform currently has 2.23 billion active users and with the acquisition of Instagram in 2012 and WhatsApp in 2014, Facebook’s intentions of staying at the forefront of the social media landscape were made evident.
As beneficial as the platform is for social networking, Facebook has become a social media marketing haven for those looking to expand their audience and increase brand awareness.
Eager to reap the rewards of what Facebook advertising has to offer, companies often pour bucket loads of cash into their Facebook ad campaigns but is it worth it? Let’s take a deeper look into what the platform offers.
What is Facebook PPC?
The type of ads used on Facebook is referred to as Pay-Per-Click or PPC ads. As the name suggests, companies pay a set fee whenever a browser clicks the ad. The Cost-Per-Click or CPC is determined by two factors: the potential reach and the competitiveness of the targeted audience.
PPC ads have become increasingly popular in the digital marketing realm as they provide companies with the ability to pinpoint a targeted demographic and generate analytics that can help influence organic campaigns.
If this opportunity wasn’t enticing enough, Facebook makes it so that you don’t have to be an expert graphic designer to create an ad. Through Facebook Ads Manager, individuals have the ability to create carousel, photo, and video ads to use for their campaigns. One can choose to have these ads appear in the audience network, sidebar, or newsfeed.
Oh, yea. Remember that 2012 acquisition? That’s right. You can set your Facebook PPC ads to appear on Instagram as well.
Benefits of Advertising on Facebook
To answer the question of whether Facebook ad campaigns are actually worth it, one must first understand the benefits of advertising on Facebook. Some of the most notable include:
- Outstanding ROI: Constant updates to their algorithms to ensure that the right ads appear on the right screens at the right time has led to Facebook being the most effective social platform for paid campaigns.
- Detailed Analytics: You have the ability to monitor analytics in real-time that highlight reach (amount of people who saw the ad), clicks (how many times the ad was clicked), and impressions (how many times the ad was seen).
- Targeted Audiences: Using the information gathered from user activity, Facebook can ensure that your ads reach your specific targeted audience, effectively improving the chances of ad conversion.
Facebook ads are also relatively cheap and more aesthetically pleasing than a typical Google ad, making it apparent why so many companies choose to invest in Facebook PPC ads over many others.
Measuring ROI on Facebook Campaigns
The goal with any marketing campaign is to gain qualified leads and the last thing anyone wants to hear is that their campaign is actually losing them money. So how do you measure the return on investment (ROI) of a Facebook ad campaign?
For starters, whether a campaign can be deemed successful or not largely depends on the objective of the campaign. If the goal is to increase brand awareness, metrics like engagement and impressions are key. If the goal is to see a direct increase in business, however, you should pay close attention to the following:
- Costs: Look into the cost you are paying per click and per action to come up with the total amount invested in the campaign.
- Click-Through Rate: Analyze the number of clicks compared to impressions essentially providing you with a figure that shows the number of opportunities you had to convert versus that amount you actually did.
- Conversions: Look at the amount of traffic, if that traffic converted to leads, and if those leads converted to sales.
The Professional Help You Need
While highly beneficial, few people have the time or patience needed to implement and track a Facebook ad campaign or any campaign for that matter. That’s where we come in. Market My Market is a full-service digital marketing agency that specializes in optimizing the digital presence of clients ranging from the legal to the fitness industry.
Allow us to transform your digital presence through web development, content marketing, ad campaigns, and much more. Contact us to discuss your options with a digital marketing expert.