5 Reasons Small Businesses Need to Run Facebook Ads
Deciding where to spend your advertising budget as a small business or solopreneur can be stressful. Of all the traditional and digital options out there, how do you know where you’ll get the biggest bang for your buck? It can be frustrating to justify a large marketing spend when you’re just getting your business off the ground, and the money is coming directly out of your bank account.
But like all things in growing your business, your marketing budget is an investment. As the adage goes, you need to spend money to make money. Below are five reasons Facebook ads are a great option for small businesses and solopreneurs.
1. They’re cost-effective
Facebook has two categories of ads; ads that keep people on Facebook and ads that take people off Facebook.
Ads that keep people on Facebook can typically be run for as little as $1 per day. A campaign like page likes or reach can be run for 30 days for just $30. If you were to run one campaign per month for the entire year, that’s of just budget of $365!
Ads that take people off Facebook typically run for a minimum of $5 per day. When the recommended budget for pay per click Google Ads can be as high as $150 per day, Facebook ads are a bargain in comparison.
2. They have unparalleled reach
In September 2020, Facebook reported 1.82 BILLION daily active users. Yes, billion. With a B. With 7 billion people in the world, that represents 26% of the population. Combine that with the fact that Facebook users spend on average 58 minutes a day on the platform, and you have one of the largest captive audiences in the world. Your ideal customers are out there, waiting to see your message!
3. Highly targeted audience creation
Given their reign as one of the world’s most popular and populated social media platforms, it makes sense that Facebook has so much data about their users. The megalith tracks everything from where your mouse hovers but doesn’t click, to your political party and your spend habits. They know how old your kids are, what sports they play and what their favorite brand is- and they sell all of that information to their advertisers.
This is hugely beneficial to Solopreneurs who are looking for a specific type of customer. You can narrow your audience geographically, demographically, financially, and more.
What’s more, Facebook takes the data they have and goes one step further to extrapolate and find new ads to suggest to their users. Small businesses and Solopreneurs can capitalize on this by using an existing email list or website user information to find people who look and act like your existing customers.
4. Sales funnel through campaigns
Facebook offers 11 campaign objectives (campaign goals) that work in descending order down the sales funnel. They fall under one of three categories; awareness, consideration and conversion. Awareness campaigns fill the top of your sales funnel, consideration campaigns move your audience through the middle of the sales funnel, and conversion campaigns push qualified leads through the end of the sales funnel. Learn more about structuring your campaign like your sales funnel here.
5. In depth analytics
Because Facebook as such a massive amount of data on its users, they’re able to provide in-depth analytics on every aspect of your ads. You can run A/B tested ads, mix and match different copy, creative and CTAs, see results by age, gender and so, so much more. There’s no guessing what combination of copy and creative did the best- you’ll be able to see those results. You’ll know which age groups like which CTAs best, what gender was more likely to click through and use this information to paint a vivid portrait of your ideal customer.
Curious to know how Facebook ads could help your business? Drop me a line and let’s set up a FREE consultation call.
