Facebook is still one of the most popular social media platforms for marketing, but are Facebook ads worth it? Find out if advertising on Facebook may help you.
In 2020, Facebook had 1.84 billion daily active users.
Facebook clearly isn’t going anywhere, but the platform is always changing content rules along with other updates.
This has many marketers asking: are Facebook ads worth it? Here is your guide to making sure Facebook ads are worth it in 2021.
Are Facebook Ads Worth It?
The simple answer is yes. There is a catch though. You need to know what you are doing.
In 2016, 98% of social media marketers said that Facebook produced the best ROI for social media marketing. But with changes to both Facebook content rules and algorithms and their Ads policies and products, you need to know how to optimise your ad campaigns to ensure you are capitalising on the enormous reach of Facebook.
How To Optimise Facebook Ads
Facebook advertising offers marketers a suite of powerful tools to reach their target audiences. Here are some simple tips for maximising the effectiveness of your Facebook ads in 2021.
Know Your Audience
Building an effective digital marketing strategy begins with defining your target audience and finding out the best way to reach them. The more you know about your audience and what motivates them, the better you can create ads that will resonate with them.
Test, Measure, and Optimise
Keep the ad creative fresh with new images and copy. It is important to continuously test different variations of your ads to determine which ones produce the highest click-through rate.
There are a few important Facebook ad metrics you should consider testing: conversion rate ranking, cost per click, clickthrough rate, and cost per action.
Conversion Rate Ranking
This compares your expected conversion rate to similar ad campaigns, giving you insight into how you can expect your ad to perform.
Cost Per Click (CPC)
CPC is the price you are paying for each click on your ad. The average CPC on Facebook is $1.72 but this varies across industries.
Clickthrough Rate (CTR)
This measures the ratio of ad impressions (how many people viewed the ad) to clicks. The average CTR is 0.9%.
Cost per action (CPA)
CPA measures how much you are paying for specific customer actions, such as a purchase. Across all industries, the average CPA is $18.8.
Don’t Fear Rejection
Even if a Facebook campaign isn’t producing the results you need, it’s important not to give in to the fear of rejection. Trying different variations of your messaging can be a successful path for boosting engagement and conversion.
Stay Up to Date with Industry Changes
As new digital strategies emerge, so do new tactics for effective Facebook ads management. It is important to stay informed about the latest trends and techniques so you can get ahead of the competition.
Use Facebook’s Advanced Marketing Tools
Facebook offers several tools to help you get more out of your marketing efforts. Using these tools allows you to manage a high volume of ads and efficiently track your performance with custom reports.
Your Facebook Ad Campaign
Are Facebook ads worth it? 100%. But, you have to know how to create and manage successful campaigns to get the best results. For more on creating successful ad campaigns and taking your digital marketing to the next level, check out the rest of our work.
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Tony Cowan is a 30 year graphic design veteran who has a vast array of experience in print, web and illustration. His knowledge has extended into digital marketing and strategy in recent years and utilises these skills to deliver successful outcomes for his clients.