8 important benefits of Facebook advertising in 2023
With over one-third of the world’s population on it, Facebook is easily the most popular social media platform in the world. Businesses that are not active on Facebook or have sidelined the platform to focus on marketing on other platforms are losing out. If you are a digital marketer, you are aware of the benefits of Facebook marketing for your business. If you are a business owner, it is really important to understand that Facebook marketing is important and very relevant even today. Although Instagram and TikTok have garnered considerable attention in recent years, Facebook continues to remain in the pole position as far as the number of users is concerned.
Small- to medium-sized brands stand to benefit from Facebook advertising for a myriad of reasons. The wide range of advertising options, amazing targeting alternatives, and cost-effectiveness of Facebook marketing makes it one of the top digital marketing channels today. If you are still eager to know the benefits of Facebook marketing, you have landed at the right place.
Read along to learn more about the benefits of Facebook advertising for businesses. Find out how Facebook advertising can help your business grow.
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Facebook advertising – you snooze, you lose
“You snooze, you lose.” This is very true for the millions of businesses that are competing against each other in the current landscape. If done right, Facebook advertising can take a business a long way. However, most businesses fail to make the most of Facebook advertising as they do not understand how to go about things. In simple words, they do not have the expertise. Our Facebook advertising services can help in such situations.
Go through our Facebook advertising services or get in touch with our team to understand how we help our clients. Now, let’s explore the top benefits of Facebook advertising.
Facebook advertising benefit #1: Facebook advertising for businesses helps you reach a wider audience
This graph indicates Facebook’s popularity compared to some of the other popular social media platforms. With a user base of around 2.6 billion in 2020, Facebook had the highest user base among all social media platforms .
Besides, it is also important to note that Facebook’s user base spans different demographics. From young to old, Facebook’s user base is truly unique. Therefore, businesses of all shapes and sizes will have a certain percentage of their audience on Facebook. This is why businesses should step up and connect with their audience on Facebook. After all, it is an important touchpoint in the digital marketing ecosystem.
Facebook advertising benefit #2: Facebook advertising caters to B2B and B2C companies
Facebook advertising is not restricted to B2C companies only. Even B2B firms can make the most of Facebook advertising, which explains why Facebook ranks so high in the global popularity charts. It offers value to all types of businesses.
Today, a majority of B2B marketers rely on Facebook marketing for a myriad of reasons, including customer acquisition, creating awareness, and building brand presence. In today’s competitive landscape, one thing is crystal clear: marketers need to stay on their toes and be aggressive to cut through the competition. B2B marketers can taste success with the right targeting, messaging, ad format, and more.
Some of the target segments offered by Facebook for B2B companies include:
- Interest industry
- Employment industry
- Employer name
- Job title
- Business travellers
- Employer company size
Facebook advertising benefit #3: Facebook advertising boosts engagement with your business
Another major benefit of Facebook advertising is that it improves engagement with your business on the platform. This eventually results in more followers and sales over a period of time.
Each time a business posts a blog, updates its status or shares something on its page, it gives its users an opportunity to engage with their post. It is important to understand that engagement can take any form, including liking, sharing, or commenting on a certain post.
But, how exactly does engagement help a business? When a potential customer engages with your post, it establishes the fact that not only are they aware of you, but they’re also interested. This gives your sales and marketing teams enough motivation to move potential customers down the sales funnel.
We have observed that most businesses do not generate enough traction on Facebook organically without advertising. Whether you want to label Facebook as greedy is totally up to you, but one thing is certain: you will need Facebook advertising to increase engagement on your posts. In return, you are likely to grow your page and reach out to more prospects.
Facebook advertising benefit #4: Facebook ads can run on Instagram too
Did you know that Facebook owns Instagram? Therefore, when you run Facebook advertisements, you have the option of also advertising them on Instagram or just on Instagram. This dual-platform experience can aid you in reaching out to more potential clients who might not use Facebook but are loyal Instagram users. Therefore, you have the option to target two markets (Facebook and Instagram) at once when you sign up for Facebook advertisements.
Facebook advertising benefit #5: Facebook advertising enables competitor targeting
There are very few social media platforms that allow you to target the audiences of your competitors, and Facebook is one of them. You can still target people who have expressed an interest in other brands that are your competitors. It also depends on when a user last modified their preferences and is based on self-reported data, so it might not be current.
Nevertheless, this can be a smart strategy to target well-qualified people, particularly if employed at scale.
One can immediately reach thousands of consumers without paying costs for these audience profiles, which may be required on other channels, by building a custom audience of users interested in 20+ well-known companies.
Facebook advertising benefit #6: Range of ad formats
With around 10 ad formats, Facebook offers the most ad formats compared to other social media platforms. Besides, Facebook offers a few suitable ad formats for each stage in the marketing funnel. Trends suggest that image and video ad formats are more commonly used compared to other available formats. It is important to understand that almost all ad formats include a few visual and text elements, offering businesses ample opportunity to highlight their product portfolio or describe their business.
Sponsored posts have become a hit among businesses that allow others to post on their feed. That said, user-generated posts are more valuable and are likely to generate more engagement among other users. It is also important to note that, typically, user-generated content performs better than purpose-driven ads. This is because user-generated content resonates more with other users compared to purposefully created, objectively driven messages. Since user-generated content is more organic, your target audience will be more open to viewing it on their feed.
Facebook advertising benefit #7: Monitor the performance of each campaign with ease
Facebook is Facebook for a reason. Besides, the wide range of reporting options provided by Facebook is incomparable. It allows reporting on a wide range of metrics. In addition, since the reporting metrics change with every ad format, Facebook has become the gold standard for monitoring the performance of social media ad campaigns.
While basic performance metrics can be reported via third-party analytics tracking, Facebook relies on its pixel to improve advertisements automatically.
Without it, Facebook will be unable to identify the user profiles that are best converting and will continue to show advertisements to the same group of users for the duration of the campaign.
Facebook advertising benefit #8: Facebook ads are cheaper than PPC ads
The cost of advertising on Facebook can vary depending on a number of factors, such as the target audience, ad format, and competition for ad space. Typically, Facebook advertising can be less expensive than pay-per-click (PPC) advertising on Google, but it ultimately depends on the specific campaign and how it is set up. For example, Facebook allows advertisers to set a daily or lifetime budget for their campaigns, which can help control costs, while PPC advertising on Google typically requires a higher budget to be effective.
Additionally, Facebook’s targeting options can be more granular than those on Google, which can help lower the cost of reaching a specific audience.
Facebook advertising is effective, what are you waiting for?
On average, users spend around 33 minutes per day on Facebook. That equates to 3-4 hours per week. This means that businesses have enough time to make an impression and capture the interest of their target audience.
Businesses can either build an in-house team to execute their Facebook advertising strategy or turn to an agency that provides Facebook advertising services. Regardless of the approach, businesses should not overlook the benefits of Facebook advertising and incorporate the same in their marketing plans.
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 (2022) “Most popular social networks worldwide as of January 2022, ranked by number of monthly active users” Statista [online] Available from: https://www.statista.com/statistics/272014/global-social-networks-ranked-by-number-of-users/ [accessed January 2023]