Given that most marketers often look for ways to take advantage of free online advertising, it is no surprise that a significant number of marketers have turned to Facebook advertising because it is cheap. However, many people often ask whether Facebook Ads are profitable or not, but the answer to this question will depend on a number of things. For starters, most marketers who have tested Facebook ads, particularly in their initial days, tend to be skeptical about the effectiveness of Facebook advertising. However, this is not necessarily the case because the success of any marketing efforts on Facebook will depend on whether the types of strategies used are suitable for the business and whether you are using the best practices. In addition, success will depend on whether you can avoid some of the most common blunders marketers make when advertising on Facebook. Read on to find out!!
How Facebook Advertising Works
One of the biggest misconceptions that inexperienced marketers hold is that Facebook advertising works the same way as free online advertising. Facebook ads these days come in various styles and for different purposes. You have the option of promoting your page, your website, posts on your page, or actions by other users. Although Facebook tends to increasingly focus on traditional ads and maintaining traffic on the site, it is still possible to successfully direct users to your business’s website. Facebook advertising targets users on the basis of their location, profile information and demographic, and most of these choices are only feasible on Facebook. Once you have created an ad, you can set a financial plan and proposal for every click or the amount of impressions that you will get. Users can then view your adverts on the sidebar on the site.
Who Needs to Advertise on Facebook?
A lot of businesses might feel like Facebook ads are not profitable mainly because they have not mastered the art of Facebook marketing. Besides traditional free online advertising channels like online classified ads, you should constantly try new channels of marketing, especially before demand begins to push prices up. Nonetheless, you need to ensure that you take into consideration how your business model fits into the network. Facebook advertisements are more similar to display ads rather than search ads. Therefore, Facebook ads should be used for generating demand and not to fulfill demand. You need to constantly keep in mind the fact that the main purpose why users are on Facebook is to network or interact with their friends instead of finding things they can buy.
Most businesses that find that Facebook ads are profitable like, or even more than, free online advertising channels usually ask users to sign up and not to make a purchase. You need to use a low-friction or less-aggressive conversion strategy in order to be successful. It is important to understand that visitors to your website are not necessary looking for your services or products. In case you are relying on the users to instantly make a purchase so that you can make a favorable ROI on the ad, you are bound to fail. Social media users tend to be flighty and inclined to clicking back to Facebook when you demand for a major commitment up front. It is more preferable to adhere to simple chats like how to sign up for the service, providing an email address, or completing a brief lead form. Even when you are selling a service or product, you need to think of focusing on intermediate conversations. Afterwards, you can try to sell to them later.
It is true that many people believe Facebook ads are not worth the investment and resort to some free online advertising channels instead. However, Facebook ads can be profitable if you know how to do it right, and if the channel suits your business. You also need to remember that targeting specific interests, using a less aggressive conversion strategy, and learning how the channel can work for your business. After spending some time learning how it works and what will work for your case, you will be in a better position to realize a positive ROI on your Facebook advertising efforts.