Are Facebook Ads Worth it For Small Businesses?

Are Facebook Ads Worth it
Are Facebook Ads Worth it

Have you ever asked yourself “are Facebook ads worth it?” You’re not alone. Facebook is known to appeal to specific audiences and those audiences may not align with your business. On top of that, Facebook has a ton of competition, which may feel like a huge risk when you’re a small business owner. 

Both of these things should be considered and you’re right to be nervous about it! However, competition on social media can easily be managed based on what audience you’re targeting. In short, if you want to find out if Facebook ads are worth it for you, then you first need to find out if your audience is on Facebook. 

Demographics Judge if Facebook Ads Are Worth It

Your audience might not be on Facebook. The most prevalent age group is 25 to 34 year olds, which accounts for 25.7 percent of all Facebook users in the United States. As you can see, Facebook still appeals to a broad audience of all ages and genders, which means it is likely you’ll see success on the platform. 

On top of age and gender, you can narrow down your audience based on interests, income, what pages they like, and so much more. 

So, your audience is on Facebook, but you’re still not sure if they’re worth it. Here are a few things you should consider. 

The Cost of Facebook Ads

Facebook ads can be incredibly cost effective and are great for small businesses that don’t have the budget to succeed using Google Ads. This is because Facebook gives you complete control over your budget. You are able to set exactly how much you want to spend every day on each ad campaign, or you can set a lifetime budget for the campaign. Once hit, the ads will automatically stop running. 

You can also tell Facebook how much you are prepared to spend per result which is a great tool for anyone who already knows how much a lead is worth to their business. 

On top of all of that, Facebook tracks each ad and how well it performs so you know exactly what ads you should be spending money on and which ones you need to refine. 

Facebook has Extensive Targeting 

We mentioned this earlier, but Facebook has a huge range of targeting methods that allow you to hone in on the perfect audience. You can target competitor audiences, target specific age ranges, genders, location, incomes, interest, hobbies, businesses, and so much more. Facebook even tracks how large your audience is and how viable it will be to target it. They even automatically trim down your audience if you want them to. 

So say you’re interested in your ads showing up to homeowners who earn $100,000 or more and are in their 40s. Facebook lets you do just that, while other platforms, such as Google Ads, will only actively target the income range that searches for your product/service. 

You Can Test Facebook Ad Performance 

Facebook allows you to split test your ad campaigns, serving different versions of your ad to your target audience to see which one performs better. The key to testing isn’t putting two completely different ads up against each other: it’s to test one or two small differences at a time. Testing can consist of the same ad copy, but different images, the same image but different text, different calls to actions and headlines, and so much more. 

When there is a clear winner, you can choose to allocate the remainder of your budget to that version of the ad. If you’ve ever run advertising campaigns based on gut instinct before, as many small businesses do, this is a revelation – both in terms of how painless it is to set up and in terms of ensuring your advertising really does work.

Facebook Pixel

Facebook Pixel is a clever piece of code that helps you to re-market your ads to people who interacted with them in the past, but did not buy from you. This helps encourage more customers to buy from you, sign up for your email list or newsletter, or set up an appointment. 

Additionally, Facebook Pixel measures the effectiveness of your advertising. You can use the pixel to:

  • Make sure your ads are shown to the right people.
  • Drive more sales
  • Measure the results of your ads

Don’t know if you have a pixel installed? Business Warrior shows you if Facebook Pixel is installed correctly on your website for free!

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