If you are waiting to know the worth of Facebook for your business, then you are losing out on a vast array of business opportunities. A great deal of business owners are taking to the social media platform and doing their level best to woo more customers and fans on the platform.
Facebook is becoming a dominant platform to extend hand to a huge number of prospects due to the number of users and the level of commitment and interactivity it offers.
Some of the reasons why Facebook has become a preferred and a key marketing channel for business organizations are listed below:
Marketer’s favorite networking site: As per Salesforce’s 2015 State of Marketing Report, the social media platform is the numero uno networking site for marketers. As high as 80 percent of marketers are still leveraging the social channel to grab more business opportunities. If you are not using the social media network, then you are allowing your competition to lure your customers away.
Understand consumer psychology: Facebook allows people to share their opinions just about everything, including services and products. Facebook enables users to support businesses in their communities by a simple like. Brand influencers know how to use this phenomenon. The average consumer have a propensity to follow their favorite celebrities and will buy the products that are endorsed by their favorite celebrities. The social network platform not only enables businesses to understand the consumer psychology but leverage it to turn it into profits and business prospects.
Maximum visibility with minimum cost: With an active userbase of 2.19 million (recorded in the first quarter of this year) and growing, Facebook has the largest number of people logging into its social network compared to any large social media platforms. So, when a business roll out its business it makes more sense to use the channels where maximum visibility is guaranteed. Furthermore, Facebook advertising is far more cost effective compared to YouTube or Google and a business can garner the maximum visibility even with a low budget.
Maximum conversion rate: As per Shopify, Facebook, with an average conversion rate of 1.85 percent, rates higher compared to other social media channels when it comes to conversion rate. If a business is investing in social media marketing, then it’s a great idea to put their endeavor in something that will drive their sales and conversion rate.
Facebook live gives new leash of life to businesses: The Facebook live feature has taken Internet by storm as it allows you to record live videos and share those from your account. As a business, you can use the live feature in numerous ways such as for promoting an event, answering common questions of customers, providing customers a sneak peek of your new products or campaigns, etc.
Tips while running ad campaigns on Facebook:
Know your target audience: You can know your target audience through Facebook’s Audience Insights that will enable you to know about your specific audiences before allocating budget and time for them.
Establish a budget and a bid strategy: It is vital that you establish a budget and bid strategy before running ad campaigns on the social media platform as this will enable you to optimize your budget and steer clear of overspending. Until you get an idea of the amount that ad space costs and the allocation you need to make on your budget, you are better off by letting Facebook take care of this aspect.
Use attractive imagery: One thing we must understand is that visual content is lot more important compared to text content. So it is essential for businesses to use attractive imageries that will enhance the ad campaign.
Create unique ad sets for each audience: To make your ad campaign effective, you would be better off creating unique ad sets for each audience. You can create two different ads and send them to two totally diverse audiences or you can create one ad and send it to two different audiences.
Accompany ads with landing pages: You should not connect an ad to your product page or website without pushing visitors via a landing page. Landing page will enable you to make the most of your Facebook advertising endeavors by sensitizing users prior to asking them to purchase. Since Facebook ad isn’t cheap, landing pages make sense. As you are going to spend money on your clicks, you want each one to matter. It is a waste of money when you simply send your audience to a basic product page or a website without any clear direction of what they ought to do.