Why Facebook Advertising is Good for Business
After a less-than stellar start, social media giant Facebook is finally proving that it knows how to help pay the bills. In fact, their final quarter of 2013 was the largest ever for advertising, a statistic that has been steadily improving quarter over quarter, year over year. This, along with several other important findings, solidifies the importance of leveraging this powerful tool for your organization. Here’s why Facebook advertising is still an important component of online marketing.
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The purpose of using the web to market your business is to increase visibility and boost brand awareness. One of the biggest ways to accomplish that goal is to improve your search engine ranking, and a strong presence on Facebook provides the foundation. Facebook activity is naturally fluid, and offers real-time search results, which automatically boosts SEO significantly.
As of 2013, Facebook reports a whopping 757 million active daily users. That alone is a staggering fact. Now consider that each of these people has an average of 130 friends. This means that whenever one person interacts with your brand, the activity will be seen by that person’s entire network. This gives you instant access to potentially hundreds of thousands of others with minimal effort and investment.
The reason Facebook reported such high numbers for last quarter is simple. More and more businesses are recognizing the benefit of this popular online network for marketing. In fact, US ad spend on Facebook has increased year over year by 125%. It’s time to jump on the bandwagon.
Since you’re probably working with a budget, you’re also probably looking for ways to market your firm that will give you the most bang for your buck. Facebook is the perfect avenue, and it just keeps getting better. Year over year click through rate on Facebook ads has increased substantially and continues to grow. The result has been a boost in revenue of 27% while costs per click have actually decreased by 7%. That’s a win-win, folks.
Other important stats to consider:
- Females earned more than males and therefore had the most ad dollars
- 85% of ad dollars are aimed at the 25+ audience
- 73% of internet users with incomes above $75,000 are on Facebook
Add all of this to the fact that Facebook has dramatically changed its advertising methodology to be much more targeted and personalized. Now you can essentially hone in on your target audience based not only on age and demographic, but also social data such as their likes, interests, networks and activity.
Simply put, if you’re not using Facebook to reach your audience, you’re missing the mark. The good news is, it’s not too late. Based on these numbers, the time to advertise on Facebook is now.