Are Facebook Ads Worth it? Pros and Cons of Facebook Ads

Facebook has become a powerful advertising platform for businesses. But do Facebook Ads always deliver a positive return on investment (ROI)? 

First, here are some quick stats about Facebook:

• 51% of total advertising spend was used on digital ads (which includes Facebook, among other social networks).

• Facebook’s market share for digital advertising is close to 20%, making it one, if not the single largest option for advertising, behind only Google.

• The average conversion rate for Facebook ads (or CVR) is 9-10%, higher than Google Ads.

• According to Statista, 41% of surveyed marketers claimed that Facebook gave them the best return-on-ad-spent (ROAS), putting it at the top of the most popular social media sites for marketing.

Like any social media platform, Facebook has its advantages and disadvantages.

Let’s weigh the pros and cons to determine if Facebook Ads are worth adding to your marketing strategy!

Pros: 

Target both a wide customer base and specific groups of users (and show up to active users again!)

Facebook ads are great for targeting specific groups of users based on age, gender, interests, location, and more.

By targeting based on these factors and sending retargeting ads to custom audiences that show interest, FaceBook Ads offer the opportunity to reach the customers you want in an organized strategy. 

Added bonus: the Facebook lookalike audiences option lets you mirror your existing list to reach even more people, including advertising to people who have made purchases from your competitors!

Flexibility and customizability 

The customizability of Facebook advertising features makes it easier to try out different ad formats and placements, which allows you to find out the most effective combinations that resonate with your target audience.

You can, for example, test between video ads, carousel ads, or still images or see if your target audience is more likely to convert through different placements. Finding out what works for your business takes time but is worth the effort!

Quick results for effective campaigns

If you’re eying revenue and conversion over a short-term period, Facebook Ads can deliver fast results. After the ads are set up in Ads Manager and reviewed, campaigns are typically approved within 24 hours. Once live, they go to work immediately, showing up to thousands of users!

Inexpensive advertising costs for small businesses

Compared to more traditional advertising channels, marketing budgets with Facebook is considerably cheaper.

Imagine advertising on the radio, billboards, newsletters, or even TV – you’ll easily end up spending thousands of dollars in the hopes of reaching any potential customers. 

Plus, in comparison to other types of digital advertising, Facebook ads are relatively inexpensive. With Facebook’s advertising methods, you can get away with a $10 dollar budget and reach 1,000 people on the same day of launching your campaign.

With a well-run advertising strategy, marketers can spend anywhere from a few cents to dollars per click-through.

Realtime feedback on performance

Facebook has no limits when it comes to analytics about the performance of your ads. From start to finish, you have full exposure and control of your Facebook advertisement and budget.

That means you can track your campaign’s progress, know exactly how much you’re investing, and how it’s performing at any time. You can also use all the available data to make strategic targeting decisions for future advertising strategies.

Cons: 

Not as effective with younger or (much older!) audiences. 

Age can become an issue if your target audience on FaceBook is a younger generation. The average age segment that visits FaceBook is between 25 and 35. So, if you want to reach Gen Z, Instagram has proven itself more effective at targeting this demographic. 

At the same time, if you want to reach people who are older than 65 years old, then Facebook ads may not be the best option, as they make up the smallest number of individual users. 

Competition can be fierce. 

Competition on Facebook is tight. When you launch a new ad, new ads come from competitors as well! Since more companies are using Facebook ads, the chances of standing out are greatly reduced. That’s why…

Facebook ads hardly ever work on the first try 

Ad copy, images, headlines: any successful FaceBook campaign has to go through plenty of tests and tweaks. While this is normal, it’s vital to account for this testing phase when setting your budget and hours.

Users can ignore Facebook ads – or not see them at all. 

Let’s face it: not every customer wants to click an ad to read a company blog or sign up for a company newsletter; many would rather see these things when they log onto social media instead.

So, if you plan to build an advertising campaign on Facebook, it requires a lot of creativity. Plus, only those who are logged into Facebook have the luxury of seeing your ads, unlike open platforms like Google Ads.

Facebook Ads can be one of the best platforms for advertising.

However, they do require expert knowledge and technical skills to ensure success. 

If you’re not sure how to create effective online marketing campaigns and build a solid customer base, then consider a company like ParaCore to support your digital strategy!

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