The day Facebook went public, Mark Zuckerberg became a billionaire and so did they who had equity in Facebook’s stocks. The main reason for this was that everybody knew what’s coming next, Facebook was destined to be an adverting magnet and that’s exactly what it has become.
Facebook was the first major player in social networking website industry that tapped the potential of online marketing. The reason for such a huge success of Facebook ads is that it is more viable, feasible and economic than other conventional advertisement platforms. Let’s take a look at some of the points to understand why Facebook ads are more productive than its competitors.
- Advertising on Facebook is more economic:
Even the simplest of ad commercials meant for television broadcasting are going to cost more than ten thousand dollars in production cost, if they are high end commercials then it’s very normal for them to touch the million dollar ceiling. Production costs, crew payments, actor’s payments and advertising rights, all of these can burn a hole in your pocket. Contrary to this, online marketing, especially Facebook ads, cost a nominal amount and can be even considered free if you design them by yourself.
- Facebook has more audience and more reach.
There is no concrete way of knowing how many people watched an advertisement on television or how many people listened to it on a radio broadcast. There are some methods like TRP ratings, but they are never accurate and are sometimes these ratings are fabricated by broadcasters. Unlike this in Facebook ads you will get an exact head count of the number of people your advertisement was served to. Facebook ads go a step further and will also tell you how many people showed interest in your advertisement by giving you an exact click count. Another advantage is that all of this data is in real time, meaning that it is updated every second. You cannot get such real time data from other conventional advertising platforms, there you have to wait for the experts at broadcasting station to compile and format the data.
- You decide who is your audience:
In the case of an advertisement being broadcasted on a television network or a radio channel, you don’t have the luxury to selectively categorize your audience. Your ad will be broadcasted to anyone and everyone who tunes in to that particular channel. If you are broadcasting your ad at primetime, this can make your costs blast through the roof. Plus you will never know whether your ad actually had an impact on the audiences or not. Facebook, however, has a completely different approach to this issue. It provides you with the option of selecting your audience on the basis of demographics, geographical location, country, time, hobbies, likes, activities, gender and many other secondary filters. This proves to be significantly economical to online marketers as now their ad impressions will not be wasted on people who may not have any genuine interest in the displayed advertisement. It is beneficial to the end audience too as now they get only those advertisements which may be of some commercial value to them.
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