Are Facebook Ads worth it in 2021? Find out the answer!
It’s not 2016 anymore - the era of a relatively easy organic reach is long gone. There have been lots of updates on the Facebook algorithm during the last couple of years. Most important of them being the way posts appear in the feed. Since 2018, Facebook users have started seeing less content from brands and businesses.
The Facebook algorithm started favouring posts from families, friends, and groups in your feed to help people stay connected with their loved ones.
As for the businesses, a report from 2018 revealed that an organic post now only reaches around 6.4% of the page’s total fans. This change is not that great even for the people who can boast of millions of Page likes. But what if you’re just starting with building your following? What if your friends who accepted the invitation to like your Facebook page still make for the most significant portion of your fans? The chances of promoting your website organically in the first year are pretty much below zero. But don’t get too upset about it, there’s another way to reach your potential clients on Facebook! This is where effective Facebook ads step in.
Are Facebook Ads Worth It? Here Are 3 Reasons Why
1. Facebook’s targeting is powerful (especially that retargeting)
Facebook ads targeting options are a pretty big deal – any digital marketer will tell you all about it. Let’s look at the targeting options.
There are the 3 basic categories:
a) Core Audiences (people you choose by demographics, like age, gender, location, etc.)
b) Custom Audiences (people who have engaged with your business on or off-screen)
c) Lookalike Audiences (people who haven’t engaged with your business, but who behave like people who have)
Facebook’s built-in core targeting is a good option for you when you’re just starting out or you want to find more audiences. You’ll probably see the most success with your custom audiences. The best ads are usually retargeting ads showing to a custom audience
2. Custom and Lookalike Audiences
We talked a little bit about custom and lookalike audiences earlier in this post, but let’s really look at why we think these audiences are so great.
Being able to find your customers on Facebook is one of the best things about using Facebook for advertising. If you’ve got your pixel installed and properly tracking, you’ll have a wealth of data that Facebook can use to find your biggest fans.
Your lookalike audience is pretty much what it sounds like. A group of people who “look like” the audience you selected. Facebook takes your source audience and finds people who behave similarly online. Then they show your ad to this new audience. Ideally, if they really do behave like your source audience, they’ll be likely to purchase or follow you, or will otherwise love to have “discovered” you. We like to create lookalike audiences out of the most valuable customers you have. These can be people who made a purchase or performed other valuable actions. These could be folks who signed up for your email list or attended your last event. The sky’s the limit, and each business will have different goals that make sense. But the power in lookalikes is there.
3. The analytics are excellent.
Facebook’s analytics can be intimidating to look at when you’re just starting out. But once you’re comfortable on the platform, You’ll love the powerful data. Now, Facebook used to have a tool called Facebook Analytics. This was actually retired on July 1st of this year, but that doesn’t mean we no longer have access to that data and info. You can find analytics for all of the following (it’s not all in one place, but is available in Facebook Business Manager).
• Page analytics (which will show page engagement activity)
• Ad analytics (which shows how well ads are performing)
• Audience insights (which shows the information on your audience)
• Group analytics (which shows group activity and members)
• Facebook Live analytics (which shows your live stream engagement and audiences)
• Facebook video analytics (which shows all video activity info)
This information can provide deep insights into the performance of your ads, content, and properties.
We recommend spending time learning how to find the info that matters to your business. These are all located in the Facebook Business Manager. So are Facebook ads worth it? If we’ve convinced you that it is indeed worth it, your next question is probably; “who will handle my ads?”
Who Should Run The Ads?
Should you run ads yourself, hire someone in-house, or outsource to a freelancer or agency? We think that answer is different for every business. It really depends on a couple of things:
1. What resources do you have in-house to help with the work?
Do you have an intern or an employee who is already passionate about social media? They could be the perfect fit for a role change/addition (and raise to match). Always see what resources you have in-house first.
2. What capacity do you have to do the work?
If you’re a solopreneur or super-bootstrapping and you’re DIYing (a fan of doing it yourself), how much time do you have to devote to this work every week? Your estimates should include time learning, time troubleshooting, and labour to create the graphics and write the copy.
3. Do you have the budget to hire someone?
If you don’t have the in-house talent, and you don’t have the time to do it yourself, your next option may be hiring someone. If you’ve got the budget for it, it can be an excellent investment to bring in a marketing person who can help grow your digital marketing presence.
4. What is your budget for outsourcing?
If you don’t have quite the budget for a new employee, or hiring an employee isn’t the right choice for your business at this time, you may want to outsource to a freelancer or a digital agency (like Saint Boss).
Each business is different, but every business needs a good digital marketing presence, so prioritize this task!
If you’re still not sure if Facebook ads are worth it, or if it is right for you, contact us and let's have a chat. We’re experts at being able to identify what digital marketing strategy would work best for your business.