Among various social media platforms, Facebook is the most suitable platform that aids marketers in advertising. Facebook ads for businesses can reach 2.17 billion customers which constitutes 30% of the global population. This platform is all about displaying messages in front of the appropriate segment of the audience.

So, what is the role of Facebook paid ads in uplifting your business?

Facebook paid ads help businesses to promote their products and services to the users of the platform. Besides, Facebook paid ads target audiences based on the following:

• Demographics
• Interests
• Location
• Other information

Businesses establish relevant budgets for ads. The number of clicks generates the revenue, and it gets added to overall business profit. Go through this article to get insights into the world of Facebook paid ads that are beneficial for the growth of your business.

Facebook Ads for Business: How Much Does it Cost?

There are no such definite costs when it comes to Facebook ads. Instead, Facebook ads cost depend on the following factors:

• Targeting audiences: There are 2.9 billion customers using Facebook every month, out of which 1.9 billion customers use it daily. Based on this, the cost of ads will be higher for a narrow audience rather than broader ones.
• Placement of ads :The cost of Facebook ads is expected to be USD 0.94 per click or USD 12.07 per 1000 impressions which differs in other social media platforms.
• Campaign duration: The final cost depends upon the days and hours of the campaigns.
• Industry competitiveness: Industries are subjected to be competitive in terms of ad space. The higher the product, the more the cost of ads. 
• Time of the year: There is fluctuation in costs depending on holidays, seasons, and specific industrial events.
• Time of the day: The cost per click (CPC) is low between midnight and 6 am, be it any time zone.
• Location: The average ad costs vary from country to country.

Types of Facebook Ads

There are different Facebook ad types. Marketers or business owners can choose a suitable one to run their campaign goals. The common types of Facebook ads are listed below:

• Video: Facebook allows businesses to use a single video to display their products and services. The duration of videos should not be more than 240 minutes.
• Image: Image ads are useful for campaigns with a powerful visual representation of products and services. These can be in the form of design, photographs, and illustrations.
• Instant experience: Formerly known as Canvas ads, these engage audiences with promoted content on Facebook.
• Slideshow: Slideshow ads can either compose 3-10 images or a single video. It gets displayed in the form of a slideshow.   
• Lead: These ads are available on mobile devices. They are significant for collecting subscriptions, and permit audiences to enquire information about the offerings.
• Stories: These ads can be displayed on mobile devices in the form of images and videos. In the U.S., 62% of the population intends to use story ads to market their offerings. 
• Messenger: These ads pop up in Facebook’s Messenger tab and are useful to initiate communication between audiences and brands. It intends to promote products and services, especially for small-scale businesses.

Business owners or marketers can select the ad type that best suits and matches the business objective. Each of these ad types comprises a different set of call-to-actions (CTAs) to aid customers.

Role of a Facebook Ads Manager

It is a dashboard that enables businesses to get an overview of their respective campaigns. Additionally, it is an all-in-one tool for creating ads, managing their promotion, and finally tracking the overall performance of campaigns toward the achievement of business goals. Facebook Ads Manager is divided into the following four parts:

• Summary: This summarizes the cost amount, key metrics, and performance of ads. This further includes the evaluation of post engagement, link clicks, and reach.
• All ads: Businesses can select any specific ad out of multiple ad posts. Get a detailed view of metrics, especially the ad’s budget from all ads.
• Audiences: Businesses create different ads on Facebook for different categories of audiences. Hence, this section helps in selecting specific audiences to get to know which ads reached those audiences only.
• Automated ads: This is suitable for businesses that are looking for ways to gain exposure through the creation of automated ads and access the summary of recent activities.

Thus, all these four features of Facebook Ads Manager aid businesses in monitoring and keeping a track of campaigns while possessing the power to edit and create ads, track their performance, and manage ad budgets.

All in All

Facebook is an influential and powerful platform for businesses to connect with audiences by promoting their products and services through ads. The amalgamation of Facebook ad cost, ad types, and manager as discussed above results in the upliftment of businesses, thus generating growth in sales and revenue. It is through Facebook ads that businesses can promote their offerings, enhance customer support, generate profits, and ultimately gain recognition that contributes towards future growth.

Experience the full potential of Pangrow’s top-notch Facebook Paid Ads service and see your business grow even bigger!