Why Businesses Should Still Use Facebook Ads In 2023
Facebook has experienced five years of upheaval. Election interference and the proliferation of troll or fake accounts were just two of the problems the platform had to deal with. It’s understandable that some would start to question the efficacy of Facebook advertising given the rise of other, similarly rapid-growing social media platforms like Twitch, Discord, and TikTok.
The record is now clear: Facebook is still far and away the most popular social media platform worldwide. It reaches 59 percent of the world’s social media users and has 2.74 billion monthly active users. Fifty-four percent of Americans who use social media say Facebook is where they spend most of their time.
Social media experts agree that Facebook will change the face of marketing as we know it if it succeeds in becoming a portal to the metaverse.
A lack of a Facebook marketing strategy or the refusal to hire a Facebook marketing agency can be costly for businesses, especially those selling popular goods or services.
This blog demonstrates why Facebook is a worthwhile marketing channel, and provides actionable advice for maximizing your return on investment. Further, we discuss how the Facebook metaverse is relevant to your company and how it will shape Facebook’s marketing in the future.
What Facebook Can Do For Your Company
Marketers on Facebook will attest that the platform has great potential to help businesses expand in the future.
- When used for promotional purposes, Facebook:
- Supports highly targeted paid advertising at competitive prices;
- Provides a comprehensive advertising suite for businesses (via Facebook Business Manager);
- Works well for both direct and indirect marketing
Using Facebook effectively, you can:
Target audiences with high conversion potential Reach a wider audience Engage with customers, window shoppers, and even friendly competitors Build brand awareness through paid ads, viral posts, and contests Encourage word-of-mouth marketing on and off social media Reach a wider audience Build relationships with repeat customers Provide real-time customer support for little to no cost Foster customer loyalty
These can also be accomplished through other types of social media. Nonetheless, Facebook has the advantage of being the top platform for millennials, Gen Xers, and Baby Boomers, demographics with high purchasing power, as shown in separate reports by the NRF and Pew Research Center.
Also, a wide variety of businesses use the system, from B2B corporations to B2C ventures. Using Facebook for business purposes is as common as using the platform for consumer-facing purposes.
With Facebook’s advertising tools, even business owners who aren’t tech savvy can compete. Anyone, from a 16-year-old crafter to a single mother who runs a successful bakery and retail company with a full-time social media management team, will use the same set of tools. Anyone can learn how to use Facebook for business, but that doesn’t mean coming up with and implementing Facebook marketing ideas will be easy.
You can do it yourself, or you can hire a Facebook marketing agency that provides a full suite of Facebook marketing services. Whatever the case, a well-thought-out and implemented Facebook marketing strategy can:
- Deliver highly qualified prospects to your company;
- Assist you in maintaining contact with prospects at any point in the sales funnel;
- Reduce the length of the buyer’s journey without sacrificing conversion rates;
- Raise awareness of your company and its products;
- Boost your profits.
- Aid you in achieving your organization’s ultimate objectives
Understanding Facebook’s trajectory, best advertising practices, and future developments is a valuable asset. One must also consult Facebook marketing professionals for advice. We’ll break it all down so you know exactly what you’re getting out of Facebook for business and why you should put money into Facebook advertising.