Facebook advertising is 100% worth it for most businesses out there. Facebook ads earnings have been going up 25% year over year and it is quickly becoming the most popular advertising platform on the planet.
Facebook also has four different ad placements it offers - Facebook itself, audience network, Instagram and Messenger. Another huge advantage is that you can target your audience by their interests (which you can not do on other platforms).
Facebook retargeting ads work really well for decreasing your cart abandonment and improving the conversion rate of your other marketing channels.
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Are Facebook ads effective?
Yes, Fb ads are really effective for several reasons. First, Facebook has a massive audience of over 2.89 billion users around the world and the average person spends 34 minutes on the platform per day. Second, there are a variety of ad types you can use to reach your ideal customer. Third, you can use post-click automation to personalize the user experience and generate more conversions.
Are Facebook Ads pay per click?
Yes, Facebook is a pay-per-click marketing channel. But you can set up campaigns to charge you per impression, video view, and other metrics.
Is Google Ads better than Facebook ads?
It completely depends on your industry and your marketing budget. Facebook ads work better for eCommerce brands and have much more nuanced targeting. Google ads can be easier to set up, works best for B2B brands, and has a much wider audience. It also works well without images so it can be a cheaper option for brands that don’t have designers on staff.
Google ads can offer a much wider reach than Facebook ads and include things like YouTube ads and Google Shopping which are particularly useful for eCommerce brands. Facebook ads offer more access to more targeted audiences and have more sophisticated retargeting options with the Facebook Pixel than Google ads.
Are YouTube Ads better than Facebook ads?
YouTube video ads do better for the awareness stage of your marketing funnel. They are better served for users that may have heard of you but have never visited your site. Facebook ads are more targeted and are better for retargeting users down the funnel that have already added something to the cart or are in the last stages of their buyer journey.
Are Facebook ads worth it after the iOS 14.5 update?
Growing concerns around the recent iOS 14.5 update have led to Facebook losing a lot of its attribution window. Before the update, you could track user behavior for up to 28 days. That number is gone down to 7 days. This does not mean that Facebook ads are less profitable, it’s just that it’s harder to attribute sales to them because the data is not available.
So one way to go around that is to upload your Shopify sales (if you are an eCommerce site) into Facebook’s ad platform to find the correlation between click-throughs on advertising and sales on the site. That will give you a better picture of how profitable your ads are.
Even though Facebook advertising costs are going up steadily, there is still a huge opportunity to target your audience and increase your sales on Facebook.
What does a Facebook ad cost?
Facebook ad costs vary based on the type of campaign, audience, and keywords you are targeting. AdEspresso did a study where they analyzed over $300 million of Facebook ad spend and they were able to find some averages.
On average, a Facebook ad costs $0.97 per click (CPC), $7.19 per thousand impressions (CPM), $1.07 to get a like on your ad, and $5.47 to get a download.
These numbers are just averages and should be used as references.