Facebook remains the world’s number one social media platform despite competition from several other networks. Its huge popularity makes it the social network of choice among businesses for interacting and engaging with their target audiences. Some of the top benefits of using Facebook that enjoy:
Helps build long-term relationships
Facebook pages are a good way of pooling information and engaging with customers individually. Facebook provides businesses with an interactive and long-term platform for them to engage with their customer base. Continued engagement with users leads to brand loyalty and word-of-mouth advertising.
Reaches a Wide Audience
Facebook offers businesses the largest user base among all social media channels. According to Statista, it had 2.93 billion monthly active users in the first quarter of 2022. According to experts, this figure is perhaps second to only the number of people using Google search. Marketers also love that the mammoth user base of Facebook spreads across many demographics and geographies. Regardless of the niche a business serves, it is sure to find the desired target audience on Facebook.
Enables Psychographic Targeting
The targeting capabilities of Facebook extend beyond the usual demographics, which is very useful to businesses since marketers increasingly feel demographics alone are not a very good predictor of the purchasing power of lifestyle of people. For example, not all millennials have a conservative lifestyle because of low disposable income due to large college debts. Using Facebook, a business can target its audience by several lifestyle markers like behaviors, hobbies, interests, and life events. According to Facebook Guide for Beginners, this facility allows marketers to target potential customers with better accuracy and ensures all their marketing channels use the same behavioral criteria.
Competitor Audience Targeting
Like any other marketing solution, Facebook does not give marketers the capability to pursue competitors’ audiences. However, even though you cannot target loyalists of other brands, you can target users who have professed an interest in those brands. However, marketers need to understand that the information is drawn from data reported by the users and may not necessarily be current. However, when used at scale, marketers can still use the information to target qualified users. If you know your competitors, you can build a custom audience of users interested in those brands for targeting content and advertisements.
Large Variety of Ad Formats
Facebook is the clear leader in the number of advertising format options it offers its advertisers. Typically, you will get the option of using text, images, and videos across all of them, enabling you to describe and showcase your products and services. Savvy marketers make it a point to engage with user-generated posts on your feed to drive engagement with users. According to experts, users see advertisements as self-serving, and engage more with user-generated content.
One of the most significant benefits of using Facebook by businesses is that marketers can measure their performance with an extensive set of metrics depending on the ad format used. Marketers can track the actions users take while on Facebook and off-Facebook events like conversions. The performance monitoring capability helps markets fine-tune their campaigns.
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