Facebook has a lot of data on its users and allows marketers to use it when targeting their audiences.
When creating a Facebook Ad, you can specify demographics like gender, location, and age. Where Facebook really differentiates itself from other platforms with ads, though, is through lifestyle-based targeting options, like:
- Behaviors (like recent purchases)
- Education and job history
- Political affiliation
- Major life events
- Spoken languages
Get powerful results
Once you’ve mastered Facebook Ads Manager, setting up ads is easy, and results happen quickly.
A 2020 survey of US retailers showed that 41% see the greatest return on advertising spend (ROAS) from Facebook Ads. That’s huge compared to the average conversion rate across all industries of just 9.21%.
Facebook and Instagram reach billions
Because Meta owns both Facebook and Instagram, their platforms are easily integrated. This means that ads can be run simultaneously on both platforms, giving you access to even more social users. The reach potential of advertising on Facebook and Instagram is unmatched.
Track ad performance in real-time
While Meta got rid of its full Facebook Analytics platform in 2021, it still has great resources for understanding ad performance, including metrics for reach, engagement, conversions, and more. This data is updated in real-time so you can adjust your campaigns based on performance.
Another major benefit of Facebook’s current analytics is the ability to add the Facebook pixel to your website. Most content management platforms allow you to easily add this piece of code to your website and track the effectiveness of your Facebook Ads. You can keep an eye on user behavior and create specific target audiences for future Facebook advertising campaigns.
How much does it cost to create a Facebook Ad?
While the specifics are more complicated, the simple answer is that you will never pay more than you want to spend.
To give a little context into what’s achievable with Facebook Ads, we ran an experiment to see what a budget of $5 per day would get us. We tried three different types of Facebook Ads, each designed with a different objective in mind.
Here are our results:
- Page Likes – $0.57 per like
- Clicks to the Buffer for Business landing page – $4.01 per click
- Boosted post – $6.35 per additional 1,000 people reached
When we view this in terms of how much $5 per day will buy you, these are the numbers:
- Page Likes – 9 likes per day
- Clicks to the Buffer homepage – 1 per day
- Boosted post – 787 new people reached
The results of our Facebook Ad experiment
It might be useful to see how our experience compares to Facebook Ads benchmarks overall. WordStream analyzed the Facebook Ads performance of its 256 US-based clients and came up with many helpful performance benchmarks, such as the following.
These can be helpful stats to consider when running your Facebook Ads
Since we find ourselves in the technology space at Buffer, we can compare it to the industry benchmarks in this chart.
Average click-through rate: 1.04%
Average cost per click: $1.27
Like all the experiments we run and share here, your mileage may vary. And we’d love to hear your experience and results.
Get strategic with your Facebook Ads
Now that you’ve nailed the basics of how to create a Facebook ad, you can start experimenting to see what works best for your audience.
For each of the steps above, it’s helpful to pause and think back to your goals. Make sure everything you are defining and creating is in line with your own measure of success. Not sure what your audience wants to see? No problem. Facebook has plenty of tools for A/B split testing, so you can compare ads side by side to find out what works. Get creative and make sure to monitor the performance of your ads so you can change things when necessary.
PIN THIS BLOG POST ON YOUR PINTEREST IF YOU FOUND IT HELPFUL.
Ummmm … do you know how much I’d appreciate that?
I’d really appreciate it. Like a lot.
To pin on Pinterest, simply hover over the image below and click on the little “P!”