Why Use Facebook for Business? If you have been searching for an answer to this question, then congrats, you found the right post. For a while now, almost all major marketing players have been preaching the importance of Facebook Ads and how it can help define a successful business strategy for firms of varying structures. In the US alone, it is estimated that one in three individuals have a Facebook account, and so is the case with many other countries. This alone, when taken into perspective from a marketer’s point a view, is a great opportunity to reach out and engage with the target audience. The article mainly tries to answer the question of 'why use Facebook for business?' with reason and rationale.
Reasons as to Why Use Facebook for Business :
Staggering Statistics And Phenomenal Reach
Almost 25% of the world’s population is on Facebook – or in other words, if Facebook was a country, it would be the most populated when compared to the rest. Now, if this doesn’t inspire a marketer to look into the benefits of marketing via Facebook, then clearly it’s time to exit from cuckoo land and get real.
Below are some of the stats that I have carefully curated. These will give an in-depth idea of the significance of using Facebook for business.
Worldwide, there are over 1.71 billion monthly active Facebook users. (Facebook MAUs). (Source: Facebook as of 7/27/16)
Daily active users count is at a staggering 1.13 billion. (Facebook DAU) for June 2016. (Source: Facebook as of 7/27/16)
On the mobile front, there are 1.57 billion active users of which 1.03 are active on a daily basis. (Facebook DAU) for June 2016. (Source: Facebook as of 7/27/16)
Five new profiles are created every second. (Source: ALLFacebook 2012)
Thinking what one can do in 60 seconds? Well, in Facebook 510 comments are posted, 293,000 status updates are made and 136,000 pictures are uploaded. (Source: The Social Skinny)
Average time spent per Facebook visit is 20 minutes. (Source: Infodocket)
Over 8 billion video views amounting to 100 million hours on a daily basis. (Source: TechCrunch)
In the 18-24 age group, almost 50% access Facebook as soon as they wake up. Funny but true. (Source: The Social Skinny)
The United States accounts for one in five page views on Facebook (Source: Infodocket 2012)
Almost 42% of marketers, globally, report that Facebook is an integral part of their business model.
The above numbers say it all. The statistics show that the growth in the number of users is consistent and that they are actively engaging in aspects that gain their attention. When compared to previous years, the rate of growth is manifold, and clearly, a sign that the future is bright for Facebook. It’s now crystal clear that Facebook provides the biggest market for advertisers and the focus should be on using this unique platform to its full potential.
Organic Vs Paid – The Difference
Clearly, there should no longer be any arguments regarding the reach of Facebook. But now a different question arises. Why use Facebook for business, especially the ads platform, when it has the potential to reach the target audience organically?
Normally, a Facebook user could view and engage with all the posts generated by their friends along with all the pages they have liked. But the problem now is Too Many Posts and Too Little Space.
Content uploaded and shared on Facebook is increasing on a daily basis. In addition to the growth in content being shared, users are also actively engaging and liking more pages, making the competition for a spot in the News Feed section really complex. According to Facebook, almost 1500 stories can find its way into an individual’s News Feed when they log in, making it a really messy affair. To reduce the clutter, the News Feed was restructured to display approximately 300, filtered on the basis of relevance to an individual. In simple terms, the probability of a user missing out on an update is far too high. This is where Facebook Ads come into play, and it truly has the potential to effectively resolve the situation.
The most important point to be noted here is that the concept of organic reach is limited to users who are following a brand or a page and not to the one who don't. By utilizing Facebook Ads, a marketer could reach the target audience via different methods, even to the ones that are not actively following them.
Paid Format Is More Efficient
For an ad to be ‘efficient,’ it should give maximum results at the lowest possible investment. This can only be achieved if the ad posted reaches the maximum number of users who are directly relevant to a firm or a brand. Does Facebook provide us with this opportunity? Let’s analyze.
Personally, I believe that Facebook is the most effective medium to reach the right audience. With the right analysis, one can decipher a user’s journey on Facebook. Based on the category of interest, page likes and individuals who are being followed, one could predict the behavior of each and every user on Facebook. And no, it doesn’t sound creepy because it's research done in good faith. So, an advertiser making use of the Facebook Ads platform has to identify the right set of users that might suit their product and share the ads with them. This can be easily achieved with the detailed and extensive ad targeting options on Facebook.
Various Targeting Options To Explore:
The options given below will help an advertiser or a marketer in selecting the audience group for them to share the ads with:
Location: One can reach out to customers based on the area they live in or the place where they conduct their day-to-day business. Ads can be deployed on the basis of specific filters like country, county/region, postcode or even the locale around a firm’s business jurisdiction.
Demographics: There are options to target an audience based on their gender, language, relationship status, education, work, financial status, ethnic affinity, parental status, generation, life events, political views and much more.
Interest: When an individual is interested in getting a product/service, they are mostly likely to engage with the ad displayed to them. There are options from hundreds of categories to choose from - business & industry, entertainment, family & relationships, fitness & wellness, food & drink, hobbies & activities, shopping & fashion, shopping & outdoors, technology, etc.
Behaviour: A marketer can identify the right audience based on their interest. With just a basic research, a marketer can classify users into various brackets like automotive, business to business, charitable donations, digital activities, expats, financial, job role, media, mobile device user, purchase behavior, travel, residential profiles, seasonal & events to name a few.
Connections: This is probably one of the simplest ways to reach out to users. It involves targeting folks who have already established a connection with a firm like the ones who use their app, liked an event or simply those who visited their website.
Custom Audiences: Custom Audiences help find selected users from within Facebook. This can be done by creating a Custom Audience database via emails, phone numbers or Facebook IDs. (Read more on facebook ads targeting options )
Why Use Facebook for Business - Key Focus Points:
The benefits of using Facebook Ads are endless. However, a few of the most important ones are as follows:
Facebook has a massive audience
People spend a ridiculous amount of time on Facebook
Audience targeting options are just awesome
We have complete control over our ads
Easy Ad Management
Easily track spend, performance, and ROI
Spend as little as $1 a day and still achieve positive results
We could reach the mobile (smartphone) audience
Incredibly powerful remarketing
The bottom-line here is simple. The use of Facebook as an integral part of a marketing campaign enhances the possibility of attaining positive growth. Having said that, it is important that a marketer thoroughly understands the platform, the concept of Facebook for business and proceed based on data generated by research and the philosophy of the associated brand to get the maximum benefit from one of the world’s most preferred marketing tools.
To find out more about the prospects of using Facebook Ads and how we can help grow your business, Contact Us
Hope you find the blog useful. Feel free to drop your thoughts in the comments section below. Thanks for reading!
This resource was published by Akhil Alappattu18 October 2016
Akhil is a Search Engine Marketing specialist at Webdura Technologies. He is a Bing Ads Accredited Professional with AdWords, Analytics and Hubspot certification.