There are an estimated 52 million Facebook accounts registered in the United Kingdom, the equivalent to 60% of all our internet users.
This figure shadows the 20% of us who use Twitter, the next biggest competitor. A majority of the United Kingdom’s Facebook users are aged between 16 and 24, making it the perfect audience for many companies who specifically cater to young adults. Numbers unsurprisingly decrease as age increases, but Facebook maintains the lion’s share of use for social networking users of all ages. Therefore, if you’re going to advertise with social media, Facebook is the place to do it.
Facebook adverts come in a number of forms, from promoted posts and stories to regular banners and links. Before designing or uploading your advert, you are able to specify your preferred outcome, from page likes to click-throughs, app engagement to special offers. You are also given free reign on who will actually see your advert, with the option to create targeted audiences from your mailing list or customer database. You could also select users of a certain relationship status, who speak a specific language, or have a minimum level of education.
Paying for Facebook Adverts
One of the biggest advantages of advertising with Facebook is the innovative budgeting system which the social networking giants have produced. Despite the massive popularity which Facebook holds in the United Kingdom, advertising is surprisingly affordable, even for small business owners. You are given the option to allocate a daily or lifetime budget to your advertising, so you’ll never spend more than you plan to. Your budget will be spent on either page impressions or clicks, with varying costs between the two. Then, once you have reached your daily or lifetime budget, your advert will simply stop being shown.
Alternatively, you can purchase individual page clicks or impressions in quantities of 1,000 for a set price. Facebook adverts also offer you the option to purchase “cost per action” adverts, where you can specify a preferred user action. This could be the potential customer liking your page or clicking through to your website. Often, your type of advert will largely depend on your planned outcome, whether it be profit or company growth.
However you wish to have your Facebook adverts valued, you will need to use the sites unique bidding system to actually purchase your website space. Business owners are encouraged to research their sales statistics and determine what they consider to be the true value of each click or view, in terms of actual profit. This value can then be set as your maximum bid, to ensure you will maximise profit while your adverts are running. You should also bear in mind that this is a maximum bid, and often each click or view will cost less.
Paying for Facebook Adverts
Were you aware of Facebook’s unique budgeting and bidding systems for advertising? Have you ever considered paying for adverts on Facebook, or perhaps you’ve already benefitted from exposure to the social platform’s massive audience? Why not let us know in the comments below!