At this point, there’s a good chance that you’re either currently running or have tested advertising on Google Adwords and Bing Ads for your business. This may include search, display, YouTube, remarketing, or various other ad types. Whether you are currently having a lot of success in those networks or you turned them off years ago because the ROI just wasn’t there, testing Facebook Ads should be a priority for your upcoming marketing budget meeting.
1. Lower Cost
Compared to Google Search, where, depending on your vertical, cost-per-click can run north of $50 Facebook advertising is an absolute bargain. Its’ not entirely fair to compare Facebook to Google search, it is really more comparable to Google’s display network, but even here Facebook wins. Google’s display network delivers an average cost-per-click of $.35 while Facebook is just $.24, a 31% discount.
We also find that while Google’s display network can get considerably more expensive, regardless of your targeting, Facebook tends to be in the $.24 cost-per-click neighborhood. A huge selling point if your business is in a highly competitive market, like education or finance.
2. Your audience is on Facebook
Your trouble won’t be reaching them. Here are the most recent Facebook user stats:
- 864 million daily active users
- 35 billion monthly active users as of September 30, 2014
3. Time on site
Not only is your audience on Facebook daily, the average user spends 21 minutes there per day. The average adult user spends 39 minutes a day on Facebook.