Facebook ad revenue is expected to increase to $5 billion in 2012. Before you start an ad campaign, make sure you have the right tools and strategy in place.
With 845 million Facebook users around the world, who wouldn’t want to advertise on Facebook?
Depending on your campaign objectives, maybe you.
Facebook ads are relatively inexpensive and allow you to reach consumers where they are spending more of their time, right?
Here are 3 things to consider before you log in and start placing your campaign.
Social Fresh has released a The 2012 Facebook Ads Report, which includes some insightful statistics that you should think about if you are considering using Facebook ads.
1. Facebook ads are more effective for promoting Facebook pages and apps, than a website or offline product.
Logically, this makes sense. While a user is checking out their newsfeed, they are more likely to “like” your page or check out your app than transfer out of Facebook to your website.
Audience growth is one of the most popular goals for those using Facebook ads. This is a tactic better suited for building your social media strategy, than to use in a traditional media plan.
Other traditional and digital tactics will more effectively drive traffic to your website or generate awareness about your product.
2. The average Facebook ad has a life-span of 72 hours.
Sorry, that isn’t a typo…according to the Social Fresh report, each creative execution will generate the peak click-thru rate 72 hours after it is posted. This means to maximize the effectiveness of the campaign, you need to change creative 2-3 times per week. This further illustrates the fast-paced nature of social networking.
Similar to a Search Engine Marketing campaign, it is also important to split-test your creative to see which images and copy are resonating with your audience and generating the best results.
3. The biggest Facebook ad challenge is ROI.
This challenge isn’t unique to Facebook ads, but based on the Social Fresh report, 85% of respondents do not use ad management software. Yikes! An agency can really help maximize the efficiencies of a campaign by evaluating the analytics and optimizing the campaign.
According to the 2012 Facebook Ads Report, those using an agency to place campaigns saw a 30% higher click-thru rate than the campaigns placed by brands directly.
Facebook ads can be deceivingly straightforward and may seem like a natural fit for your advertising campaign. Don’t get me wrong, Facebook ads are appropriate for many social media strategies. Advertisers spent $4.27 billion (with a b) in 2011 alone, and revenue is expected to increase to $5 billion in 2012.
Before you jump in, make sure the tactic fits your marketing objectives.
What type of results have you found from your Facebook ad campaigns?