If you have been using social media platforms such as Facebook and Instagram, You probably should have noticed that more advertisements are flowing into the platform. Backtrack 5 years ago and things would have been different. While it does draw some frustration on users’ end, it actually helps users find new products and information that they would not have gotten through these platforms.
Facebook marketing or Social Media Marketing as we know it is advertising solely on these platforms through sidebar ads, news feed ads or even video advertisements. While they can be intrusive to a user’s experience on the platform. Research and analytics have proven that it is a very effective means of engagement with potential customers. More than 2.5 million Singaporeans are currently on Facebook. Research has also shown that the most active point of the platform is usually during the commute to work or even before bed. With users spending on an average of 1 hour per day on Facebook. You can see why so many companies are jumping on the bandwagon.
How does their advertising work?
Facebook is one of the biggest data collection platforms to date. With over a billion users, Facebook has information on where users stay, their interests, their likes, hobbies, what they share and even the type of video you watch. With this information, advertisers have the ability to literally pinpoint the customers that might be interested in their products. Facebook then displays your ads to the requirements in your demographic so that it reaches the right people.
Facebook Ad Auction
Just like Google’s Paid Search: Google Adwords, Facebook uses an auction system to allow advertisers to bid for their advertisements. Through that system and other metrics, Facebook then decides which ads are shown to users. Of course, other metrics such as the volume of clicks, the number of likes, shares and even the relevance of the ads do matter.
Tracking your Performance
Just like Google Analytics or Google Adwords, You can also track the performance on how your ads are doing. Ads Manager is Facebook’s “software” that tells you everything. From how your ads are doing by the amount of share and likes to even the traffic and engagement with other users. You can also set up goals alongside Google Analytics for a deeper understanding of how your ads are organic searches compare.
So with all that was said, is Facebook advertising really that effective? The short and simple answer is a resounding Yes! With about 40% of the population on Facebook and a large and constant userbase, it is one of the best bang for your buck methods to achieve your marketing Goals. Many of our clients have experienced better Return on Investments than Search Engine Marketing methods such as Pay-per-click. With that said, Facebook marketing still has its limitations. While a substantial percentage of our population is on Facebook, the majority of that population are within the age of 13-30. A large percent still rely on tradition online marketing methods such as Google’s search network or Youtube. If you are planning to solely use Facebook as a means of advertising, it is important to determine the demographic you are after and research on its viability. A well-balanced approach would to always use A-B testing for a couple of months to see which platform brings about the best lead generation.