Are all your peers raving about how using Facebook as a marketing tool has helped transform their business? If so, they are probably correct, even though (with the latest news about Facebook and data breaches), many companies have likely double-checked their digital marketing spend for the coming year. With so many businesses doing that – and questioning whether they should still be using Facebook ads – look to the latest statistics for global social media usage for guidance.
Facebook, which is one of the top social media platforms, is one of the only platforms offering business solutions for both B2B and B2C avenues. People are increasingly spending more time online to research, read and write reviews, to ask for recommendations and to seek entertainment. Any business looking at engaging or converting customers’ needs to be present where these activities are undertaken, namely on Google and Facebook.
Facebook can help a business bridge the gap from being purely desktop-friendly to being both mobile and desktop savvy. The platform’s Lead Ads feature helps customers reach their destination page more easily by using pre-filled data in a user’s profile. Although this is a small step, it may influence a consumer’s buying decision, thus increasing the conversion rate. Also, Facebook’s audience expansion tool ‘Lookalike Audiences’ allows a business to upload a list of existing customers and then find similar audiences. This gives a business the unique advantage of being able to build up their niche customer base with a minimum investment.
With Facebook’s domination of the messaging space – with their WhatsApp and FB messenger, a high focus on video content strategy, and an investment in artificial intelligence in bidding and buying processes – the platform is only going to grow stronger. Checkout the spend forecast for Facebook video ads doubling from 2017 to 2020. Now is the time to invest some well-defined budget on this platform.
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Written by Ankita Agrawal