When it comes to digital advertising in social media, Facebook is a powerful platform to use, bringing in $27.2 billion in revenue in just the fourth quarter of last year. With a user base numbering in billions, marketers can easily reach out to a large variety of audiences. Check out some of these Facebook statistics from the 2020 Digital report showing just how many prospects you can reach through the platform.
- Advertisers can reach around 67.9% of the U.S. Facebook population aged 13 years old and above.
- There is a 25% increase in advertising reach among users aged above 65 years old from last year.
- The average number of times a Facebook user clicks on an ad hovers at around 8-19 per month. The infographic below further divides and expands on this according to age and sex.
- Women aged 45- 64 years old are the age group that would most likely to click on an ad, at 19 clicks per month.
- On the other hand, men aged 35-44 years old click on ads the most, at 12 clicks per month.
Setting A Facebook Advertising Goal
Now that we have seen how powerful Facebook can be, it’s your turn to identify the outcomes you want from the platform. For example, is your goal to increase website traffic, to get prospects to send in inquiries, or for leads to follow your page?
If you’re creating an ad on Facebook, the very first thing they will ask for is your marketing goal or objective. Setting a goal allows you to be more focused on the direction of growth that you want. Without this, you will lack a proper metric to gauge whether your ads are working or not.
For example, conversion isn’t always the goal of some marketers. This is especially true for businesses with a long sales cycle such as education courses. Because of the significant cost of tuition, enrollment will not likely be a one-time purchase, so the long-haul strategy where you nurture your leads may be the course of action that will yield the best results.
As an answer to this, Facebook helps businesses optimize their ads for each step of the marketing funnel process. They have three categories you can choose from in setting your ad objectives.
Brand Awareness allows you to communicate an image of your business to targeted audiences that lets them recognize and retain your brand. This can help you stand out from competitors.
Reach helps you deliver your ad to as many people as possible, given a certain parameter such as location and budget.
The consideration stage is crucial because it’s when you get consumers to consider your product or service as an option. Proactively staying engaged and accessible will help your business to become memorable in their minds.
Traffic – the more website visits or conversations you get, the more conversions you can attain.
Engagement – engagement is key in ensuring that your business is always top-of-mind when your audience is thinking about your service. This is measured through follows, likes, and shares, to name a few.
App Installs – use your ads as a jumping-off point to direct users to your apps.
Video Views – videos are a great way to engage and nurture your audience, allowing you to tap into opportunities for upselling and retargeting.
Lead Generation – lets you gather more information from people who already displayed a high level of interest in a similar product or service. A lot of ads structured for this type of result lead to sign-up forms.
Messages – having easy and constant access to your business can nudge your leads toward decision-making. Ads can become the bridge to personal conversations, helping you “answer questions, collect leads and boost sales”.
Conversion comes in many forms, beyond just buying or subscribing to your business. For this type of objective, Facebook lists three types: Catalogue Sales, Store Visits, and Conversion. For the last category, you can determine and set your own conversion type.