Is Facebook advertising worth the time and investment? This is a great question and one we hear often. As with anything there are positives and negatives but before you get started with Facebook advertising you need to define your objective.
- Do you want a larger audience for your posts?
- Are you trying to drive traffic for blog readership?
- Are you trying to gather leads?
- Are you trying to convert online sales?
In other words, what is your end goal metric? If you are really trying to convert new leads or to get online customers to buy your product the Facebook Likes campaign will be of little use to you. You would be better suited doing a Post Engagement or a Clicks to Website ad to drive qualified traffic to your site. With that said, your site needs to be set up to convert. It also needs to be optimized for the mobile user because about half of Facebook traffic will be through the mobile device.
All in all gathering Likes for the sake of advertising is largely ineffective. I say this due in part to the regulation on posts and how many people will see each organic page post. However, Likes have a similar benefit as a 5 star Google Review. When done correctly, it will make your company or organization look trusted to visitors and future buyers.
Google vs Facebook
When comparing the two major platforms you will see higher conversion rates from Google advertising. Why? Because Google is closer to the point of sale. You are placing your product or service in a location where people are looking to buy. On Facebook people are looking to connect and purchasing a product or service may not be on their mind. However, it is a great place for brand placement and development. You can reach a large audience at a fraction of the cost compared to traditional marketing streams like TV and radio.
Google is expensive.
You will pay for the higher conversion rate so you need to be prepared and do your homework. They CPC is so high now it might price you out. You may want to consider running ads on the Bing and Yahoo network which are often times cheaper. Yes, more people use Google but that also makes it more crowded. Facebook offers local businesses a great way to reach their customers with less competition.
We have found that even with the lower conversion rate local businesses with high profit margins can benefit tremendously from zip code targeted ads on Facebook. Such businesses include: dentists, eye care professionals, vet clinics and realtors.
Another avenue to incorporate all these methods is called re-marketing which we will touch on later.
In the end, own your market. If you run a company that can afford to advertise online we highly recommend you take the area you operate in and take ownership of your zip code on Facebook. Set up end goal metrics, use a great promotion (very important) and send them to a stunning website designed to convert leads. You might just see better results than you expect.