It's not an exaggeration to say that Facebook has revolutionized the online experience for every day consumers.
From housewives to college students, you simply don't have an online presence unless you have a Facebook account.
Current figures estimate that nearly a half billion people are on Facebook. Even more, half of those who are on Facebook participate on a daily basis. From a marketing perspective, it doesn't get a whole lot better than that.
Business owners and advertisers are beginning to wake up to the value of social media marketing. Although Facebook advertising probably isn't the only form of social media marketing you'll want to pursue, the benefits of Facebook advertising are enough to make it a serious contender for inclusion in any online marketing campaign.
- Cost per click. Compared to other forms of advertising, Facebook ads are highly affordable and cost efficient. Cost per click (CPC) ads make business owners pay only when a Facebook user clicks through to the company website. Imagine paying for newspaper ads based on the number of people they bring into your store. That's what CPC ads effectively accomplish.
- Inexpensive conversion rates. The average conversion rate for Facebook users who click through to websites is pretty reasonable, somewhere between 5% and 10%. But remember, you're only paying for the ads that resulted in the click through to your site. So at a 10% conversion rate on a $.20 per click ad, you are spending about two dollars per paying customer.
- Interest-based targeting. While other online marketing resources use targeting that is based on keywords, Facebook's targeting is based on personal interests. The benefit is that the Facebook interests are self-described in each person's profile. In other words, instead of guessing your ad viewers' interests, Facebook ads let you target based on the passions and pursuits viewers actually assign themselves.
- Demographic/geographic filters. Facebook advertising makes it easy for business owners and advertisers to focus their ads on personal demographics and geographic territories. If you only want your ad to be seen by Des Moine, Iowa residents between the ages of 18 and 21, Facebook can make it happen. But if you want your ads to be seen by as many people as possible regardless of their demographic or regional location, you can do that, too.