Facebook advertising is growing more popular every day, taking online advertising to a new level. Facebook advertising has proven to target people as potential customers by their interests (psychographic targeting), as well as by demographic and location, more effectively than any other online advertising model. The very tight restrictions and guidelines on ad quality have built significant quality traffic for websites.
The Benefits of Facebook Advertising
Facebook advertising is a very powerful PR tool for websites that desire more online presence and brand awareness, as well as being a brilliant way to establish a new brand in the market.
Facebook enables websites to reach a massive audience of 700 million active customers (at least 100 million mobile users) who spend an average of 700 billion minutes on Facebook per month – these figures cannot be ignored. While there are more searches performed on Google and one could argue that Google AdWords can reach a larger audience, the time spent on social media channels continues to soar and the monumental customer reach figures for Facebook advertising need to be taken advantage of.
Facebook allows you to choose from two options: CPM (cost per thousand impressions) or PPC (pay per click). Whether your advertising goal is increased exposure and brand awareness or direct sales and conversions, the Facebook advertising model can serve your business well.
Choosing to target Facebook users whose friends click the ’like’ button for a particular page can increase the effectiveness of your advertising message by reaching new users. This can help increase your ad’s CTR (click through rate) and also improve the potential for the visitor to like that particular page, thereby influencing more users to view that page and press the ‘like’ button.
Facebook Advertising vs. Search Engine Advertising
Facebook advertising is different from paid search models such as Google AdWords or the Microsoft Ad Centre as it allows you to target people’s interests rather than their search phrases, meaning your ads will target users based on who they are and what interests them rather than on what they might be looking for right now.
If you target the right interests your ads can reach a larger audience on Facebook than on search engines like Google. As well as this, trying to reach a large audience through a search engine PPC advertising model can be more expensive. The more general the search terms, the more expensive the clicks will be, not to mention that low CTR (click through rate) and low quality score increase the CPC (cost per click) and in some cases, the ads stop showing on the first page.
The Facebook advertising model uses the same inverse relationship between CTR and CPC as the major search engines do, but the average CPC used is lower – approximately one-third of Google AdWords’ average CPC. However, it is a widely-known fact that the conversion rate for Google ads PPC model is higher than Facebook advertising even though Facebook advertising is relatively cheaper.
Facebook ad frames allow up to 135 characters whereas Google AdWords allow 75 characters per ad. Therefore, a Facebook ad description can relay more information about a product or service.