With 86% of adults using the internet and 77% of them on Facebook, Facebook is quickly becoming an important place to spend advertising dollars. Over 1 billion people visit the site monthly and many turn to the site to determine what to purchase. Facebook advertising is not only less costly than most other advertising outlets, it reaches more people. The demise of local papers is shrinking opportunities to run ads in local newspapers. Mailers often end up in the recycler before they are even open. In fact, a recent survey found that the average Facebook user spends over 40 minutes a day on Facebook and only 17 minutes reading their snail mail. Add to that the fact that online advertising reaches an average of 38% of its audience while Facebook Ads reach an average of 89% of its audience. (Facebook for Advertising)
Facebook advertising is still one of the most cost-effective ways to reach people. In fact, when you compare the cost to reach 1,000 people with a newspaper ad at $ 32.00 with Facebook’s cost to reach 1,000 people at 25 cents, (Moz) it makes financial sense to shift ad budgets to this new source.
Facebook also allows ads to be specifically targeted using many parameters, including age, sex, location, interests, work history and spending habits. This ensures that ads reach an audience most likely to be interested in the advertised products or services, in specific area areas for local businesses.
Facebook Ads allow small businesses to compete with bigger businesses. Based on the ad dollars spent and the other demographics small business ads have the opportunity to appear next to the Fortune 500 company ads. This levels the playing field when attracting customers.
Your competitors are probably already advertising there. Shouldn’t you be there also?
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If you are not using Facebook to advertise you are missing a great opportunity to grow your business and gain new customers.