One advantage SMB’s gain by using Facebook ads
Facebook recently announced it has 3 million advertisers on its platform, most of them being SMB’s. A year earlier they had 2 million, so that is a plus of 1 million advertisers in just a years time. And with over 50 million active business pages, the number of advertisers will continue to grow rapidly.
Facebook has developed a very complex marketing platform that helps SMB’s compete with big corporations in a way, that wasn’t possible before. One of the biggest advantages of big corporations is their marketing budget. It seems like you can’t escape their message, on TV, online or offline they are everywhere. Even if it’s not relevant to you, most of the time you are forced to be exposed to their message. That’s just one of the reasons ad blockers are so popular right now.
But having to spend a big budget efficiently is not an easy as it seems. It brings its own set of problems and challenges to tackle. One, for example, is that in order to spend a big budget you might need to target a broader target audience, and maybe reach users that your message is not intended for.
So how is a small business able to compete? It doesn’t mean that if you have a bigger budget, you’ll get better results. With the help of Local awareness ads, you can reach the right people who are nearby you store. Imagine a local Italian restaurant promoting the daily pasta specialty only to people who are in a 1-mile radius around the restaurant, and target only the ones who like Italian Cousin and pasta. And the best part is that it’s not going to cost thousands of dollars to do it, it can be achieved by investing $50 in Facebook ads.
Compare that to the options that were available before like promotional leaflets, billboards, magazines, radio, and TV. They all required a minimum budget in the thousands of dollars, a marketing agency, designers, distribution partners and so on.
Local awareness ads help you target the right people, at the right place and at the right time, and it eliminates a lot of inefficiencies caused by big budgets and minimum required budgets that other marketing channels have. So it leaves SMB’s with an advantage they previously didn’t have.
The data-driven type of decision a small business owner can make in a second to pause an ad, create a new one or increase the budget of the best performing ad is a big advantage that big corporations don’t have. Even with all the big marketing software available, they need to gather reports from different channels, make the attribution, and by the time they get approval from management to make changes, the small business is now way ahead of them.
Facebook is constantly working on providing the best tools and options that are available to big enterprises, to be also available for small businesses when creating Facebook ads.
I think that SMB’s will continue to invest more if not most of their marketing budget on Facebook, and Facebook has a lot more in store, or as they say it “the journey is 1% finished” :-)
So I firmly expect to see the rise of SMB’s again and by using Facebook Local awareness ads they can compete and take advantage of this opportunity.
P.S wait for F8 and news about Messenger. My team has already experimented with the Message option for Pages and Messenger and received interesting results. I have a feeling Messenger will bring more advantages and will become very important tool for SMB’s as well ;-)