Lots of social media platforms have jumped on the marketing bandwagon. Almost all the major platforms offer some sort of marketing tools that claim to enable you to gain the attention of the exact audience your brand is trying to reach. But Facebook marketing is by far your best choice if your brand is just getting into social media advertising.
Facebook is the industry leader simply because they’ve had a head start on all the others, and built up the world’s largest social media membership. Almost everyone has a Facebook account. In 2020, the number of Facebook members reached almost 1.7 billion people around the globe. That’s a lot of eyes that could be getting acquainted with your brand. But unless you’re working for Coca-Cola, Apple, or some other global brand, you probably don’t need to reach billions of consumers.
But Facebook is basically in the business of gathering information about their members. And by marketing through Facebook, you can make good use of all the information they’ve accumulated over the years.
Targeting Potential of Facebook
Facebook offers a wide variety of targeting potential with its Facebook Ads platform. You can target your ads to reach members by their age groups, genders, past buying habits, regions, and other categories. This targeting feature can help you zero in on the most likely audience to respond to your ads and increase your conversion rate.
If you’re a smaller, regional brand that is new to the world of digital marketing, you may err on the side of caution and limit your ads to your immediate region until you can see the volume of responses. This would be a smart way to do it. You’d be able to gradually increase your Facebook marketing activities until you’ve reached the upper limit of your brand’s production capabilities.
Control Your Marketing Budget
Facebook also allows you to control the way you pay for the ads you place on its platform. The Ads platform allows you to choose between four different payment models. CPM, CPC, CPL, and CPA.
The ‘CP’ stands for ‘cost per’, and the third letter signifies the payment model. CPM is the cost per thousand impressions. This works well for high-volume brands that move a lot of product. CPC means cost per click. This is the model used by most digital ad platforms where you’re not charged for ad placement unless a user clicks on the ad. This can be useful for brands who are still testing their ad design strategy and formats.
CPL stands for cost per lead. This is a less common model that only charges you when a user fills out a customer form or registers with your brand. CPL and CPA are similar. CPA stands for cost per action and is targeted at customers who actually purchase a product from an ad.
If you’re new to Facebook marketing and you’re bewildered by how to make the most out of all the options offered on the platform, partner with an experienced Facebook marketing agency. They’ll help you optimize your ads and get the most for your marketing budget.