Facebook Advertising: Your Secret Weapon for Customer Acquisition

Social Media Marketing

Social platforms offer an ideal way for brands to connect with consumers. In research by Influencer Marketing Hub, when asked why brands use social media, 69% of respondent stated they use it for brand awareness. Additional reasons include:

• 52% – Increasing web traffic
• 46% – Growing the brand’s audience
• 44% – Promoting content
• 43% – Increasing community engagement

According to consumers, 57% follow brands to learn about new products or services.  Other reasons include:

• 47% – To stay up-to-date on company news
• 40% – To learn about promotions or discounts
• 40% – To be entertained
• 34% – To be educated

Facebook Remains Top Social Platform

Facebook continues to be the top social platform for marketers. 2.74 billion people log into Facebook every month.

With such a massive number of users, it’s safe to say that many of your customers and prospects can be found on the platform. In fact, 95% of social media marketers say Facebook delivers the best ROI.

Here are some additional stats on Facebook every marketer should know:

1. Facebook has over 2.9 billion monthly active users, making it the largest social media platform in the world. (Statista, 2021)
2. More than 200 million small businesses have a presence on Facebook. (Facebook, 2021)
3. Facebook is the most widely used social media platform for marketing, with 93% of marketers using it to promote their brand. (Hootsuite, 2021)
4. The average cost per click (CPC) for a Facebook ad is $1.72. (WordStream, 2021)
5. Facebook’s advertising revenue was $84.2 billion in 2020. (Statista, 2021)
6. Video ads on Facebook have an average engagement rate of 6.15%, which is higher than other ad formats. (Hootsuite, 2021)
7. Posts with images on Facebook receive 2.3 times more engagement than those without images. (HubSpot, 2021)
8. The optimal length for a Facebook post is between 100 and 119 characters, which receives the highest engagement. (Buffer, 2021)
9. Facebook users spend an average of 38 minutes per day on the platform. (eMarketer, 2021)
10. Facebook has a 49% penetration rate among seniors aged 65 and older, making it an important platform for reaching this demographic. (Pew Research Center, 2021

Getting Started with Facebook Advertising

There is still some confusion in the marketplace about how to most effectively advertise on Facebook, you may recall that in early 2018, Facebook turned off access to third-party data in the platform for advertising purposes.

As a result, marketers were left with a gap in their strategy without access to Facebook audience strategy. Many businesses today work with third party data vendors to help build audiences for upload into Facebook.

For example, a furniture retailer may want to customize an offer for consumers who have recently moved or who are most likely to be in market for furniture. The retailer may also want to send offers to their own customer base who have purchased from them in the past. To do so, the furniture brand can work with a third party to build audiences of new movers, their own first party customer data, modeled audiences based on their best customer profile, and so on.

Removing Core Targeting Options

Facebook is also removing some of its targeting capabilities. In 2018, Facebook removed over 5,000 targeting options to reduce discrimination mostly based on ethnicity and religion. And then in August of 2020, Facebook removed over 1,000 targeting options due to low usage.

As Facebook works to stay compliant with federal regulations, more targeting options are slated to be removed this year. 

Porch Group Media Full-Service Facebook Advertising Solution

To help clients better target their audience, Porch Group Media offers full-service social media marketing solutions.

Target Acquisition Audiences Based on Your Best Customer Profile
Based upon your best customer profile, we will create a look-alike acquisition audience using our third-party data sets. Using AI and machine learning algorithms, we combine over 1,000+ attributes to create a custom audience.

Target Your First-Party Audiences and Look-Alike Audiences on Facebook
Target your customers and prospects using your internal customer list. Using your data, Porch Group Media verifies and appends email addresses and phone numbers to help you achieve a higher match rate to Facebook’s member base.

Clients can also add additional attributes including demographic, behavioral and lifestyle selects such as age, income, interests, personality data, in-purchase indicators, vehicle information and more.

Incorporate Video Ads

There are several types of ad formats that can be used in Facebook. The type of ad you choose will depend on your advertising objective.

However, one type of ad reigns supreme above all others and that’s video.

According to Statista, video posts on Facebook get more engagement than other post types.

Facebook video ads are the best way to ensure people remember your brand and come back to your site. Video isn’t just trending on Facebook, it’s a strategy that works to engage and convert website visitors, to push leads down the funnel in email marketing campaigns, and to fuel engagement across multiple channels.

Interested in learning more about our Facebook and social media advertising solutions? Click here for additional information.