Your comprehensive guide to Facebook advertising
Advertising on social media platforms is a critical aspect of modern business strategies, especially if your business has, or wants to have, a sizable online presence. The key to success is selecting the platforms that are best suited for your business and your content. For many businesses, Facebook is the logical place to start because they are more comfortable with Facebook than other platforms.
Facebook is a great choice for advertising online, but before you can start planning your Facebook advertising strategy and figuring out your would-be Facebook advertising cost, you should ask yourself some questions to ensure Facebook is the right platform for you.
Be sure to ask yourself: Where does my target audience spend time online? Does my content fit on this platform? Is my content aligned with my target audience? Is my budget high enough to afford Facebook advertising? Am I familiar with the native analytical tracking tools and how to interpret both positive and negative results?
After going through these questions, and identifying Facebook as an appropriate platform, it’s time to log in to Facebook and get to work on your business’s Facebook advertising strategy.
How To Get Started With Facebook Business Advertising
To start advertising on Facebook, you will need to set up a Facebook business account. Facebook provides an Ads Manager suite that will handle all your advertising needs, depending on the metric and objective of your campaign. You will also need to register a payment method, such as a credit/debit card, to both spend and take in advertising money.
The Facebook Ad Manager will guide you through several easy-to-follow steps. First of all, you will have to name your campaign, set your budget, and decide on a timeline for your Facebook business advertising campaign. Next, you’ll define your target audience and select placement parameters. These parameters will tell Facebook whether you want your ads to appear in Messenger, on stories and posts, or on mobile-only devices.
Finally, you must set safety controls to ensure your ads do not appear alongside conflicting or competing products or entities. Once these steps have been taken, it’s time to create your ads using Facebook’s native editing tools, such as Video Creation, Carousel, Image, and Card Creation kits.
Creating Your Facebook Advertising Strategy
The step-by-step guide above is straightforward, and each element involved in the ad creation and dissemination process will rely heavily on your Facebook advertising strategy. Crafting a strategy may seem simple, but this is where the majority of businesses make errors. Once you begin down the wrong path, it can be difficult to identify it and make changes. To avoid disappointment, take the following points into account and make sure they form part of your Facebook advertising strategy.
Facebook allows you to delve deep into your target audience by using demographic and psychometric data to create narrow and highly targeted customer segments. Utilizing Facebook’s vast user data should result in a high return on investment (ROI).
Choosing the right ad format is crucial, as it will impact the buyer’s journey (awareness, interest, consideration, conversion, and retention). Decide if image, carousel, or video ads are best aligned with your target customer, and trust your research.
Your content must align with your audience. Video is the most commonly used format on Facebook, but text-based image posts may be more suitable if you are directing the audience to a blog or article. Make sure your content includes a clear and persuasive call-to-action (CTA).
Like any advertising campaign, it’s best practice to test your ads before scaling up. This will give you valuable insights into what is working and what needs improvement, allowing you to tailor your ads before they go out on Facebook.
Your paid strategy should include your desired paid structure, e.g., pay-per-click (PPC), and the budget for different times of the year, such as seasonal events. It should also define the desired metric, such as reach or conversion, to ensure you’re tracking the most relevant information.
How Much Does Facebook Advertising Cost? Is It Worth It?
As with any advertising campaign, pinpointing the precise costs can be tricky. Luckily, Facebook has been so popular for over a decade that we can now accurately estimate the costs of a particular Facebook business advertising campaign. Bear in mind that these figures are estimates and must be treated as such.
On average, in 2024, Facebook ads cost between $0.26 and $0.30 per click. The price per like is between free and $0.25, and the price per download is from free to $5.00. Finally, if you’re interested in price per impression, Facebook ads cost between $1.01 and $3.00 per 1000 impressions.
A well-structured and thoughtful Facebook advertising strategy will not only target your audience, but it will guarantee that it reaches them and creates a higher rate of awareness. By taking the time to create, test, and implement a strong strategy, you will see a better ROI, regardless of what Facebook charges per click, like, or impression.
Thinking Of Teaming Up With An Agency With An In-Depth Understanding Of Facebook Advertising?
Having gone through the necessary steps to set up a Facebook advertising campaign, and the elements that make for a successful strategy, you are almost ready to begin advertising on Facebook to boost your business’ online presence and marketing returns.
If you are looking to partner with a social media advertising agency, inSegment is here to help. Working as an extension of your team, we integrate all aspects of marketing into one dynamic approach and our social media experts provide Facebook advertising strategies for businesses that understands the interplay between paid and organic channels. We also know how to dissect and direct your content in a planned and meaningful way to increase awareness and conversions.
Contact inSegment today to receive your tailored Facebook advertising strategy and turn views, clicks, and likes into dollars in your company’s pocket.