Amongst the constantly developing and crowded area of online advertising, there are a variety of major established players, such as Google with their Adwords platform. However, in the highly social world of today, these existing avenues of advertising are quickly being dominated and overtaken by other channels that have, and continue to, enter this space.
The most notable of these is the Facebook Advertising system that allows for pages to tap into the near 1.8 billion monthly users in an effort to increase awareness and leads for themselves. Considering this figure, it’s no surprise that this platform has seen over 680% growth since 2010 with more than 1 million advertisers spending near $8 billion on advertising.
(Source: Activa Media)
The largest reasons why organisations are shifting their focus away from the traditional Adwords system to the Facebook platform revolves around cost, targeting and success:
- Lower Costs
- Adwords puts bidders up against one another for keywords in order for competitors to continue raising the price to get the top spot, which is especially difficult in a market with few keywords
- Facebook allows pages to target a specific audience and the cost is adjusted based on the level of depth/type of ad that is being selected
- Refined Targeting
- As identified above, Adwords is used to target keywords when a user searches for a specific set of terms into their Google search engine
- Alternatively, Facebook allows you to directly push your advertising to a specific audience, based off your criteria selection. Meaning that these advertisements are being shown to your target audience, even if they are not searching for your product or industry directly.
- Greater Potential for Success
- Similarly to above, the Adwords system is contained and only displays your advertisement when a user searches for one of the keywords which you have bidded on
- Facebook however allows you to target any of the 1.8 billion active users at any time based on your advertising preferences
After you’ve looked at the Pros and Cons of both the Adwords and Facebook Advertising systems, and decide to move forward with a new campaign on Facebook, there are a range of insights which are excellent to know:
- Account Setup
- When establishing your account, be sure to double-check and confirm that you have entered all of the correct information, as you will not be able to edit these fields once your account is created
- Initially your account will be provided with a $25 advertising threshold. This is setup so that once you hit this amount the cost is charged to you in one bulk payment
- As you create campaigns over time this threshold will continue increase from $25 to $50, $250, $500 up until it reaches $750
- Ad Account Limits
- 5,000 non-deleted ads per ad account
- 1,000 non-deleted campaigns per ad account
- 25 ad accounts per user
- 25 users per ad account
- Ad Spend Control
- This can be set by you for the maximum you wish to spend on a campaign
- Campaign Notifications
- Turning these email notifications on will be highly useful, as it will provide you a range of customised updates regarding your campaigns and advertising.
(Source: Omni Star)
This concludes the first part of our Social Advertising series that is diving into providing you with insights of the Facebook Advertising system. Check out the second part of this series titled, Picking your Ad Type & Building Your Creative, to continue learning and developing your knowledge of this platform.