Facebook Ads can help you increase your social following and boost the reach of your organic posts. But aren't CPC rates skyrocketing and lead generation ads taking over?
Not so much. To help you distinguish fact from fiction as you start designing your Facebook Ads strategy, we're dubunking 24 common myths about Facebook Ads below.
24 Common Myths About Facebook Ads
Myth: Facebook Ads are best for bottom-of-the-funnel marketing tactics.
Fact: Some marketers think advertising is primarily a bottom-of-the-funnel tactic, but Facebook Ads can actually work well for each stage of the funnel.
Think about setting up your ad campaigns with the funnel in mind. While your middle and bottom of the funnel campaigns might be retargeting campaigns to get users to come back to your site and either convert or buy, your top-of-the-funnel campaigns should be content that's focused on awareness, just like any other organic post.
Focus top-of-the-funnel campaigns on post engagement and promoted posts for content specifically geared toward your Facebook audience. Leave your ad campaigns for farther down the funnel to focus on conversions.
Myth: The competition for Facebook Page Like and Facebook Post Engagement Ads are at an all-time high.
Fact: Socialbakers' extensive Facebook ads data reveals that In North America, not only are the Cost-per-click rates for Post Engagement and Page Like Ads decreasing, advertisers are also allocating less of their budget towards these campaigns.
As more Page Like ads have saturated people's News Feeds, click-through-rate (CTR) on these ads have decreased. Just because CPC is going down, doesn't mean marketers should use more of these ads. Instead, use Page Like ads to retarget users who have previously engaged with your content.
Post Engagement Ads are all about getting your audience to share and comment on your posts. Given that these ads are becoming more valuable to marketers, now is a great time to start making use of post engagement ads.
Figure out what your most remarkable content is, and use it to your advantage to expand your reach. Don't just spray and pray with your posts. Focus on writing attention-grabbing headlines, and write posts for your target audience so that your ads are directed towards their needs. And if you're wondering why your Facebook Ads aren't converting, this post has a few ideas about what you should look at.
Myth: Most advertisers use Facebook Ads to increase their followers and engagement with their posts.
Fact: According to Socialbakers data, Facebook advertisers are spending more on and creating more Website Conversion ads than any other type of ads.
Although advertisers use Facebook ads for many different purposes based on the options available, many marketers are focusing the majority of the budget on getting people to convert on their website.
Although Website Conversion ads have an important place in your ads budget, remember that because they're the most popular ad form, they also saturate user's News Feeds. Don't just focus all of your ads effort on one type. Instead, reserve your Website Conversion ads for retargeting campaigns and use other ad types for awareness-driven campaigns.
Myth: CPC on all ad types are skyrocketing as more and more advertisers are competing on the Facebook for Business Ads platform.
Fact: Except for Mobile App Installs and Post Engagement ads, most CPC rates have remained relatively steady in recent years.
With CPC rates remaining relatively steady, don't miss out on the opportunity to invest in Facebook advertising. Even though rates aren't skyrocketing now, that doesn't mean they won't in the future.
Keep in mind that CPC rates aren't the same for every ad type, so if you have a low budget to spend on Facebook ads, look into trying out ads that might have a lower CPC and optimize your strategy accordingly.
Myth: Since you're only paying for clicks, it's okay to spray and pray.
Fact: Just because you're only paying for clicks to your ads doesn't mean you shouldn't focus heavily on ad targeting to make sure it's getting in front of an audience that is actually a fit for your product or services.
While some advertisers opt to reach a maximum audience, we recommend focusing on the ROI of your ads by targeting those users who actually fit your buyer persona. Need help figuring out the targeting options available to you? Check out this post.
Myth: Website Conversion ads are becoming obsolete with the availability of Lead Generation ads.
FACT: As of 2016, Socialbakers found that less than 1% of advertisers' budgets was spent on Lead Generation ads. Meanwhile, budget allocation for Website Conversion ads increased by 50% in one year.
Despite being possible for advertisers to generate leads without forcing users to leave the app, so far, adoption of Lead Generation ads has been minimal. Whether marketers don't like lead ads or just aren't sure how to use them, we recommend trying it out. Want help? Check out this full guide to using Facebook lead ads.
Myth: With the rise in popularity of video, most advertisers are spending the largest chunk of their budget on Video ads.
Fact: Although budget allocation for Video ads increased by 150% from 2015 to 2016 according to Socialbakers' data, they still only made up 12% of total advertising spend for marketers.
Facebook continues to encourage marketers and users to post more and more video content. However, that doesn't mean marketers are putting the majority of their budget behind Video ads.
Why? Video takes more resources and effort to produce than other content. Use this to your advantage. Get the most ROI out of your ads by putting the resources into Video ads that will (ideally) convert at a higher rate. Since video content isn't making up the majority of ad space, it's not overly saturated in the same way.
Myth: Advertisers prefer to spend most of their budget on ads that keep users on the Facebook app.
Fact: In February 2016, Website Conversion ads made up 39% of all ads on Facebook, and 39% of total spend.
That's the largest chunk of marketers' Facebook ads budgets. Website conversion ads take users away from Facebook to the advertiser's tight in an effort to get users to convert.
Facebook wants its users to stay in the app, but marketers clearly still prefer Website Conversion ads to similarly-goaled ads, like Lead ads, that keep users in the app. Use this to your advantage and try using Lead ads to increase conversions without forcing users to leave.
Worried about leads from Facebook not making it to your CRM? Don't worry, Facebook has you covered. Get the whole scoop on how to use Facebook lead ads in this guide.
Ready to learn about organic search, PPC, and video myths? Click here to access the complete guide: 24 Facebook Marketing Myths.