Facebook usage is up, with a record number of people using the platform in the first quarter of 2020. However, the company has experienced a “sudden and significant” drop in advertising, impacted by the ongoing coronavirus pandemic. Many businesses have reacted to Covid-19 by pulling ad spend, resulting in decreased marketplace competition on the platform. Across our advertisers, ReachLocal has seen a 17% decrease in the cost of buying 1,000 impressions on Facebook. This is the lowest CPM seen since 2017, meaning that it’s cheaper now than ever before to advertise on Facebook.
This trifecta of conditions has produced a unique opportunity for businesses looking to advertise on Facebook to get even greater bang for their buck! Despite this, to get the most out of advertising on Facebook you need to go in with a clear goal in mind. Let’s take a closer look at the range of goal-oriented ad options available through ReachLocal’s Social Ads solution, to help you decide if now is the right time for your business to advertise on Facebook.
Facebook Lead Ads provide a simple way for people to fill out a contact form whilst still in the Facebook app, so they can effortlessly sign up for newsletters, quotes, appointments and more. ReachLocal provides a reporting platform to automatically store lead information, so you can manage your new contacts securely, respond immediately, and see how well your ads are working. Choose to advertise on Facebook with Lead Ads, to quickly turn consumers into customers!
Website Conversion ads track and optimise to website actions. These actions include, but are not limited to, making a purchase, completing a contact form, or signing up to a newsletter. ReachLocal’s customers are provided with detailed reporting, so you’ll know when people see your ad and act, and you can understand just how well your campaign is working. Our team closely monitor your campaign to ensure that when you advertise on Facebook, your ads will target the audiences that will deliver the best return for your budget.
Create brand awareness and drive prospects to your website with custom CTA’s designed to increase conversions from targeted users. Advertise on Facebook using the Website Clicks tactic if your business focuses on product-based sales or e-commerce. This tactic is great for taking consumers to your site so they can learn more about your businesses’ services or products, or take the next step to becoming your customer.
Facebook Retargeting allows you to show ads to Facebook users who have visited your site and to “lookalike” prospects. Target your previous website visitors and similar audiences, and drive traffic back to your website or landing page to increase conversions. Choose this tactic if you’re looking to advertise on Facebook with the goal of staying top of mind with interested consumers during their decision making process.
Ready to Advertise on Facebook?
ReachLocal is a Facebook Marketing Partner, recognised for our ability to drive exceptional advertising results from Facebook for local businesses. If you choose to advertise on Facebook with ReachLocal, you can be confident that your ads will be managed by certified experts. Our team are with you every step of the way, building the right audience targeting, ad copy and creative, and optimising your campaign to help your business grow. To start advertising on Facebook, give us a call on 1300 655 312.