22 Dec Will Facebook Advertising benefit your business?
Since its birth just over a decade ago, Facebook’s prominence in the saturated world of social media has gone from strength to strength. With over 1.6 billion users worldwide (compared to Instagram’s 400 million and Twitter’s 320 million) it’s easy to see why brands and businesses are turning their backs on traditional print advertising and instead utilising Facebook’s influence over print advertising to reach targeted and engaged audiences.
When used correctly, Facebook advertising can be hugely beneficial for businesses by successfully generating profits. But with a plethora of different ads available, each of which carrying different objectives, it’s important to do your research before handing over your advertising budget to Zuckerberg et al. If you’re not sure if Facebook advertising is for you, make up your mind by having a read of the below.
Will Facebook Advertising benefit your business?
With an ever growing database of users, and as the most used social site around, the increase in business pages and promoted posts is set to generate Facebook over $4 billion in advertising profits in 2016 alone, having topped $2 billion in quarterly profit, six months after crossing the billion-dollar mark for the first time. Central to the benefit of advertising with Facebook is the opportunity for brands and businesses to build real and genuine relationships with potential customers, many of whom will engage with brands as a result of their Facebook advertising.
At 3rdspace we always start with a content mission that is built on the brand purpose and the consumer’s lifestyle, as we need to engage and involve them, then we think about what how we want to interact with them.
With 8 to choose from, it’s important to ensure you select the right interaction for your strategy.
* Page Post Engagement – Allows you to promote posts to generate further reach and engagement among the target audience.
* Page Likes – This helps to build your brand by allowing you to grow your audience through “likes.”
* Click To Websites – This allows people to click directly to your website from Facebook. This type of ad is one of the most successful sale converters.
* Website Conversions – By adding a Facebook pixel to your site, you can allow and track specific actions on your site. This is particularly useful for tracking sales conversions.
* Install App – This allows you to create an app that people can install that goes directly to your website.
* App Engagement – You can use this to get people to use your desktop application.
* Event Responses – This is used to increase attendance at an upcoming event.
* Offer Claims/Rewards – Create and giveaway offers that people can redeem in your store.
After deciding on your content mission and business objective we develop a range of creative paths to tell the story and select the best way to convey this story, From video to carousel ads, there’s a range of options to suit all brands, whatever your purpose and product.
A key point to bear in mind when it comes to Facebook advertising is that it can excel as both a brand-building and sales method when there’s a story to be told that will resonate with the consumer and the things they care about. We’ve worked with a plethora of clients – from Pepsi to Crust to NRMA and beyond – to create impactful content campaigns, all have told a story the audience can relate to, and therefore had high views, shares, likes, positive comments and clickthroughs/sales. With mobile video consumption rising 300% every year, and with 5.5million Facebook videos being watched every minute, there’s little question over the success of this kind of content.
When analysing a Facebook advertising campaign, it’s worth remembering that its success is two-fold. While an increase in sales and hits to a brand’s website might be the desired outcome, the growth of community and connection are just as valid. Reaching – and retaining – a loyal audience will, in turn, lead to a growth in sales, but the importance lies in nurturing new fans and consequently converting them to customers. Therefore, correct well thought out targeting is imperative when it comes to executing a campaign. Our recent #outofthebox campaign for Crust allowed us to unfold a story to Facebook fans who had interacted with previous content and is a great example of how producing a range of content – including GIFs, stills and films – can have a widespread impact on the desired consumer.