Should You Run Facebook Ads in 2024?

Aristide Basque

Facebook is one of the most powerful advertising platform and it’s not going away soon. The popularity of the platform has been uncontested and has produced thousands of multi million dollar brands in the past few years. If you aren’t running Facebook ads, you should. Let’s explore why…

Cost-effectiveness

Advertising with Facebook is one of the most cost-effective way to reach your target audience. You can create highly targeted campaigns and only pay for impressions. The cost per thousand impressions is called CPM and is an important metric to keep in mind.

When it comes to Facebook advertising, the costs will always be a fraction of the money you would spend on other marketing channels, such as Google Ads. If you usually spend $500 on Google Ads, you could easily spend less than $100 on Facebook Ads to reach the same number of people. This is because Facebook has over 2 billion active monthly users.

Facebook Ads Targeting

The targeting options on Facebook are simply incredible. You can hone in on people based on their interests, demographics, behaviors, and even custom audiences. This allows you to laser-focus your campaigns so that you’re only reaching the people who will likely be interested in your products and services.

For example, if you’re selling a new product, you can target people who have recently purchased similar products or who have shown an interest in your type of product. If you are promoting a sale, you can target people who live in your city or who have previously visited your website. No need to waste money on ads that don’t convert because you’re targeting the wrong people.

Higher Engagement Rates

Engagement rates on Facebook are generally higher than other social media platforms and even higher than some traditional marketing channels. People are more likely to see and interact with your ads, which can lead to more sales and conversions.

Additionally, Facebook’s algorithm prefers ads that are getting high engagement rates, so you’re more likely to have your ad seen by people who are interested in what you’re promoting. Statistics show that the average click-through rate (CTR) for Facebook ads is 0.9%, while the average CTR for Google Ads is only 0.4%.

Easy to Track Facebook Ads Results

Another reason to run Facebook Ads is you can easily track revenue. You will see the number of people who saw your ad and the value they purchased from your business. You will also have a good insight into how many people clicked on it, and even how many people liked your page.

This allows you to understand which ads are performing well and which need improvement. You can use this data to optimize your campaigns to get higher performance. For instance, if ad doesn’t perform, you can quickly pause it and create a new one. On the other hand, if an ad is doing well, you can leave it running and increase your budget so that more people see it.

Facebook Ads Data

Facebook has access to more data than any other company in the world. They can provide highly targeted insights about your target audience. You can leverage this data to create ads that are more likely to convert and improve your overall marketing strategy.

Facebook is constantly collecting new data, so you can be sure that the targeting options will only get better in the future. For example, if you need to target people in a specific city, Facebook can now provide you with data about the demographics of that city. With this information, your ads will perform better in a shorter amount of time.

Competitive Edge

Running Facebook ads gives you a competitive edge. If your competitor is running Facebook ads but not doing it well, you have the opportunity to gain faster market shares. With a great product, stellar marketing & strong optimization, you can conquer the world!

For instance, you can retarget past website visitors who have shown interest but haven’t purchased. They might have forgotten about you and end up buying from seeing the retargeting ad.