In case you hadn’t heard, Facebook is now the most visited website in the United States, according to analysts at Hitwise. In the 2nd weekend of March, Facebook snuck ahead with 7.07% of U.S. web traffic, barely beating Google’s 7.03%.
So what does this mean to advertisers? Simply stated, it’s time to stop putting all your advertising eggs in the Google AdWords basket. However, on the flip side, evidence still shows that many businesses will continue to have lower costs, higher efficiency, and better ROI with their old friend Google.
Facebook advertising is still a new and relatively uncharted territory, but the general pros and cons break down as follows:
• Reach– Facebook has over 400 million members, 50% + of whom log on daily.
• Targeting– With users filling in their own information, demographics and geography are more likely to be accurate than with faulty tracking technologies.
• Socialization– Facebook offers new kinds of ads, for example: “Your friend Rachel just became a friend of AdEase”, which can be much more relevant than randomly placed ads.
• Competition– In 2010 it is projected that advertisers will only spend $605 million on Facebook advertising; compared to the $21 billion advertisers were already spending on Google in 2008.
• Relevance– Ads on search engines are targeted at people who are actively searching for information; Facebook ads are less relevant.
• Distraction– Ads of Facebook are more passive, and are more likely to be ignored and are often viewed as an annoyance.
• Credibility– Facebook ads have a higher tendency to be phony, spammy, and downright ridiculous.
So what now? Despite the cons of Facebook advertising, diversifying with the social media giant definitely can’t be ignored any longer. Generally speaking, with Facebook or any other kind of online or offline advertising, it’s best to start small. Allocate a portion of you ad budget to Facebook, make sure all metrics and tracking are working properly, and watch where it takes you. You might be surprised.
One bottom line remains, advertising strategies, online in particular, will vary for each type of business. Rather than reading this or some other blog post and restructuring your entire ad strategy, you need to get in touch with an expert. Connect with someone who can evaluate the value of initiatives for your business specifically.
Luckily, you’ve come to the right place. For a digital marketing strategy specific to your industry contact us today.