Currently, Facebook is the most popular social media platform in the world with more than 1.94 billion monthly users. What’s more, Facebook users spend on average 20 minutes per visit, and they often visit more than once per day.
Facebook is the place to be for most businesses, and it should be a large part of your marketing strategy.
Let's look at why your startup should consider advertising on Facebook, and leverage its power to grow.
Facebook Organic Reach
Yes, Facebook is the place to reach new customers and build relationships, but you can’t count on organic post reach to get you there.
For several years now, Facebook has been slowly reducing the visibility of business pages in people’s news feeds.
What this means for your startup is that you’ll have to use Facebook ads if you want to reach your customers.
The good news – it won’t cost you a fortune to do it.
When you advertise on Facebook, you choose the amount you are willing to pay, and for the near future, the costs are much less than other pay-per-click options.
AdEspresso did a study and put together their findings on Facebook ad spends. Here is generally what you can expect.
- On average, the cost per click (CPC) on Facebook is about 28 cents in the United States and 35 cents in the global arena.
- The average cost per like in the United States is 23 cents.
- You can expect to spend about $2.74 in the United States per app install.
How much you spend for a successful ad depends largely on your targeting – audience, demographics, location, etc. - and your budget, ad relevance and more.
Bottom line – right now Facebook ads are budget-friendly. It’s good to leverage Facebook ads now before costs start to rise.
The bonus to Facebook ads is that people don’t have to search for your business. So, advertising your startup presents a wide opportunity for you.
This means you can target new audiences consistently on Facebook to create awareness about your business.
You can use demographic and geographic info to target audiences and lead them to visit your website to learn more about you, sign up for your email list or to shop.
Finding new audiences is the first step to building your business.
Odds are that new visitors to your website aren’t going to make a purchase the first time around. But, that doesn’t mean they are lost to you.
Using Facebook advertising, you can retarget your website visitors. It’s a win-win when you retarget people who have already visited your website once. After all, they showed initial interest.
Facebook vs. Google
Now let’s talk about advertising on Facebook versus advertising on Google.
Since your startup is new to the competitive world, and you’re offering new products and new services, Facebook advertising is a terrific place to start.
While Google advertising can benefit your startup, it’s worth noting that Google targets people who have an intention. This means Google targets people who are looking for what you sell.
For many startups, people might not know they want what you’re offering because your products or services are brand new.
On the other hand, Facebook helps you reach people who don’t know about your product or aren’t on a path searching for your product.
This is why Facebook ads are so powerful for startups. You can efficiently target a group of people in a very cost-effective manner.
These are just a few of the reasons why your startup should consider advertising on Facebook.
As you dive into the world of Facebook ads, you’re sure to uncover more reasons as to why Facebook is a good place for your ad dollars.
Your next steps are to create a Facebook business page, launch your Facebook ads manager and get started. Monitor your ads, test the results and fine tune your advertising for the best success.
Are you a new startup ready to succeed? Are you looking to get your new business off the ground and watch it rise to success? We are here for you. We can help answer your questions and guide you through the process. Outsource your HR duties, finances, payroll and more to us. Contact Escalon today to get started.