Most of Facebook's revenue comes from businesses purchasing Facebook advertising space. There is a reason why Facebook is now a publicly traded business on Wall Street. It is because Facebook Advertising works! Or does it? I will explain the good, the bad, and the different types of Facebook advertising available for businesses.
- You have the ability to target to the exact demographic who you want to market to. That includes age, gender, location + radius of that location. You can even target people who recently had a life event happen like a new baby or if they just bought a new house. You can target people who work a specific businesses. You can target people who LIKE certain types of Pages on Facebook.
- The analytics! Facebook provides a great amount of analytics that you wouldn't find from traditional outbound marketing methods. For example, you can see the number of website clicks the ad has received, the number of people who have seen the ad, and your exact dollar amount that you have spent.
- Rotating images. You know how if you have advertise on a billboard or in the phone book you only get ONE image? BORING! Facebook ads allow you to rotate 6 images from one advertising campaign. This way you have the ability to catch the attention of someone who skipped over a different image that didn't appeal to them.
- Spend what you want. If you want to run an ad for one day or 6 weeks, it's your choice! You can set a daily budget so you will never be surprised when you look at your billing statement.
- Receiving non-quality clicks on the ad. Someone may click on your ad that turns out to be someone who has little to no interest in what you're promoting. You can fix this problem by having a much more defined target market when you setup your target demographic.
- Your ad is competing against other businesses. It is a possibility that your competitor is targetting the exact same demographic as you. That's OK! We'll just beat them out by designing an appealing image with powerful content that will make the consumer to want to click on your ad.
- Promoting a special offer
- Informating the visitor about a product or service you offer
- Getting them to your website to learn more about your business.