Why your business should always have an advertising budget for Facebook
I have spoken to many people about the benefits of using social media to promote businesses, but something I rarely discuss is the benefits of putting aside some of your marketing budget each month to spend on Facebook advertising.
A lot of people believe that Facebook is a free advertising platform, and it definitely is to some extent. However, something to remember is that Facebook is a business, and businesses need to make money. To truly benefit from using Facebook, or in fact any other social media platform, you need to be spending some regular money to be able to reap the benefits.
I have put together some of the main reasons why I think all businesses, no matter their turnover, should always have an advertising budget for Facebook.
Cut other advertising costs
The fantastic thing about Facebook advertising is that it is completely flexible and suits every single business out there. You could spend £10 a week, or you could spend £100,000 a week - it is completely up to you.
An amazing benefit to advertising on Facebook is that it is very cost-effective in comparison to more traditional forms of advertising such as radio, newspapers and magazines. A small advert in a local newspaper can cost you a significant amount of money. Let’s say £100 for a local newspaper. Do you know exactly how many people are actually seeing your advert and reacting to it? The answer is no. However, with a Facebook advert, you are able to see accurate, up to date analytics on the reach and engagement it is having and what’s more, a £100 spend would allow you to reach a very significant amount of people in your local area.
Did you know that 80% of all internet users use Facebook on a regular basis? Even 65% of the over 65s use it.
Beat the algorithm
As I mentioned above, Facebook is a business and wants people like us to spend money with them. It is becoming increasingly common for pages (as opposed to personal profiles) to have their content limited in people’s news feeds, even if they ‘like’ your page. The Facebook algorithm is constantly evolving, and unfortunately is making it harder for businesses to increase their post reach without spending a little money on advertising.
Refine your audience
Facebook advertising allows you to specify your perfect target audience and demographic. You can use their advertising tools to select their gender, age range, location, interests and even behaviours. If your business is a very niche market, this is absolutely perfect for you! Once you have set up your ideal demographic, Facebook will give you an estimate of how many people your advert may reach with the duration, spend and audience you have selected.
Monitor success of campaigns
Once you have set up your demographic, you are all ready to start your campaigns. You have to send them off to be approved by Facebook, which is usually a very quick and easy process. You can read their advertising guidelines here. After your ad has been approved, you can check the success of your campaigns in real-time. You are able to see reach, engagement and actions such as page likes and website clicks. This is valuable information you just wouldn’t be able to get from adverts in newspapers or magazines.
Need help with your social media content?
I am a Shropshire based freelance copywriter and social media manager who specialises in helping small businesses increase their online potential. I support your marketing strategy by creating regular content for you, leaving you to sit back and do what you do best: run your business.