Is Facebook Worth Your Ad Dollars?
We’ve all heard people try to predict what the next big social platform, chat service or phone app might be. Or which current ones are losing steam. A big question from companies new to the social media game is which platform is best for their brand. And Facebook always finds its way into the conversation, and for good reason. But before you choose whether or not to direct advertising dollars towards Facebook, or any other platform, it’s good to weigh some basic pros and cons of doing so.
What social platform is best?
The social platforms that are best for your brand can often differ depending on who you’re trying to connect with. Instagram, LinkedIn, YouTube, Twitter…the list can keep going, but what we know for sure is that not every platform is needed for every company. Take a look at what you want to share, and who you want to share it with, before you commit to a platform that won’t fit your needs.
That said, Facebook is not a bad bet for most companies. Although some may argue that it’s losing its place at the top, a recent survey shows that it’s still number one—and with a pretty good lead.
Social media platforms US adults currently use, March 2021
Plan, test and reassess
Even seeing this chart, we’d never encourage the strategy for every company to spend most of their digital marketing budget on Facebook. Really the best plan for allocation is to make a plan based on strategy and knowledge of typical audiences on each platform. Then to test that strategy with ad dollars spread amongst the chosen platforms.
The benefit of most digital channels is being able to more quickly assess and address any outcomes or outliers to the budget. Digital advertising should not be something that is left unchecked for long. If something isn’t working well, factors can be adjusted to try something new for both the communication method and platform being used.
Facebook advertising and tracking
The bottom line is, Facebook is a platform just like the rest of them. While it is often a recommended platform to advertise on, knowing your audience and objective should outweigh blindly spending a chunk of your media budget on a platform just because a survey told you so. Instead, set goals and track them properly to find the answers specific to your company and needs.
Through initial tests and tracking it can be easier to create organic content and paid media that will attract more viewers. And this can lead to more true connections and better-spent ad dollars for future campaigns.