Why are 2 million businesses using Facebook Ads?
It is safe to say that everyone* is on Facebook these days; from your great aunt who won’t stop liking every photo and status you post, to your eight year-old cousin who keeps sending you Farmville requests. (Yes, that is still going!) Facebook has evolved to become a global, open space that everyone* enjoys on a daily basis. In the UK alone, 24 million people use Facebook each day, an average of 21 minutes each day.
*Except 13-19 year-olds, but that is a blog for another time.
As it has evolved, Facebook’s uses have shifted from a social site used to share life’s daily occurrences and connect with friends, to a community where people actively look for goods and services through ‘buy sell’ groups and passively through adverts related to them and their predicted needs; Facebook Ads.
Due to its precise targeting abilities, Facebook Ads has been a resounding success with businesses of all shapes and sizes who can pick and choose the demographics of their desired audience at a very cheap rate. Facebook Ads average around £0.15 - £0.30 per 1000 impressions on a pay per click basis, which is just 1% the cost of TV advertising.
You’ll find it no surprise to hear that last month Facebook announced it had clocked up two million advertising accounts. That’s two million businesses / individuals paying Facebook to share new ideas, connect with fans and followers, increase brand awareness and drive sales forward.
Whilst five years ago, advertising on Facebook tended to be primarily for B2C businesses looking to attract a young, hip audience, it is now the prime choice of these two million businesses who are communicating with their customers, young and old, in the very place they spend the most time online.
(Granted Facebook has forced the hands of many since January this year following its most recent update in regards to 'promotional' being omited from newsfeeds- see here)
To make managing Facebook advertising even easier, the Ads Manager tool is being introduced for iOS over the coming weeks after a successful launch in America. Busy business people will be able to manage their budgets, targeting and campaigns more effectively whilst on the go.
If you need any help reaching your target audience through Facebook advertising and social media marketing, please contact us for friendly, no obligation advice.