Have you heard you should be advertising on Facebook and Instagram but you’re not convinced? Let us convince you!
The bottom line is that Facebook and Instagram are where the eyeballs are right now.
Let’s start with a clarification – when we say Facebook, we really mean the Facebook platform. That platform encompasses a huge number of advertising options that go beyond just the Facebook newsfeed. The Facebook Platform includes – Facebook (2.4 billion active users), Instagram (1 billion active users), the Audience Network (similar to Google’s Display Network), Messenger and Marketplace (similar to Kijiji or Craigslist). And WhatsApp is being added for 2020, which has another billion + users. The number of people you can reach is staggering!
4 Facebook Stats You Should Know
- The average person spends significant time on these platforms. Facebook users on average spend 35 minutes a day on the platform. The average Instagram user is on the platform for 15 minutes a day. Combining the two, there are attentive eyeballs for almost an hour each day! There’s no other advertising opportunity with that kind of stickiness. If you add it up, that’s almost two years on your life on Facebook and Instagram over your lifetime! Not only are there almost 3B daily users but they are engaging with brands. This stat alone makes it clear why the Facebook platform is the most powerful advertising platform in the world.
- Organic reach is continuing to decline. Organic reach is who sees a post that you post on your Facebook page. Five years ago, up to 30% of your followers would see your posts. Currently, organic reach is around 6%. That means if you have 100 followers on your page, only 6 people will see your post in their newsfeed. Facebook wants you to buy ads and this is one way of ensuring that businesses buy ads to be seen. Thankfully, buying ads can be very affordable and will get you in front of the eyes you want!
- Most video is watched without sound. Video as a creative asset converts very well. That means that people like seeing video in ads. But 85% of Facebook video is watched without sound. Your video needs either text overlay or captions. Additionally, it’s important to make sure that the message in your video is effective with the sound off. In short, video is very effective but needs to be created to fit into how consumers are watching it.
- Facebook Ads are incredibly cheap. Facebook ads offer a level of tailored targeting that would have seemed impossible ten years ago; there are thousands of interests that you can target. You can create lookalike or custom audiences to target very specific types of people. The targeting capability is incredible, there’s no other platform like it in the world. On any other platform, you are paying significantly more for less accurate targeting. As a comparison, the cost to reach 1000 people in the newspaper is $32. In a magazine, it’s $20. It’s $8 on the radio. And $7 on cable TV. Google Ads are $2.75 and far more targeted. LinkedIn ads are $0.75. Facebook ads are on average $0.25 to reach 1,000 people.* Not only is Facebook advertising less expensive, but it’s also incredibly trackable and targeted in a way that traditional media is not.
Have we convinced you that you should be advertising on Facebook?
Whether you have $10,000 or $10 a day to spend on advertising, Facebook should be near the top of your list of space to spend it.
Now that you know you should be advertising on Facebook, do you need help strategizing? That’s why we’re here! Set up a free consult to discuss how we can take your ads to the next level!
* Facebook ads are an auction, some industries are going to be more expensive if they are extremely competitive. Keeping all things equal, Facebook advertising rates are the least expensive.