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Should Your Business Advertise on Facebook?

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Should Your Business Advertise on Facebook?


Facebook isn’t the best advertising platform for every business. The way to know if it’s right for your business is to understand who your customer avatar is, where they hang out, and what type of product you have.

Your Business Should Be Advertising On Facebook

Facebook marketing is beneficial for many different kinds of businesses. However, businesses that will benefit most from Facebook ads offer a non-necessity buy or some type of impulse buy.

Some examples of businesses that should definitely be advertising on Facebook include:

  • E-commerce stores
  • Information/education business
  • Local businesses
  • Direct-response

Also, businesses that need to build brand awareness can benefit from opening a Facebook Business Page, setting up Facebook ads manager, and running ads.

Build Brand Awareness

The reason Facebook is so great for building brand awareness is that there is such laser-focused targeting available on the social media platform. A lot of marketers are aware of this. But if you’re just learning how to market on Facebook, this may be new to you.

Using the Facebook ads manager, you can drill down to a very specific target audience. You can tell Facebook exactly who your target audience is by narrowing down who sees your ad set.

Facebook allows you to narrow your audience by:

  • Interests
  • Behaviors
  • Demographics
  • Persona
  • Geographic location (city, zip code, distance, etc.)
  • Age
  • Gender

As you can see, this is particularly relevant to any type of local business, informational business, or e-commerce.

After running some ads, you’ll begin to see trends in who is responding to your Facebook stories vs. your Facebook post. You can test ad format, ad placement, and ad type, such as video, graphic, carousel, or text. All of this is available via the Facebook business manager.

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Businesses that benefit from Facebook advertising

Track Ad Campaign Performance

The Facebook ads manager makes it easy for marketers or business owners to measure the success of ad campaigns. Think of billboards, radio, print media, etc. With those types of marketing channels, you can’t select a custom audience, engage with the potential customer, or measure your return on ad spend.

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Inside the Facebook ads manager, you can track every detail of every ad set you publish. And since Facebook bought Instagram, you can do the same with Instagram ads.

Why Facebook Works

One thing to remember about Facebook is that intent, as part of the sales funnel, is non-existent on the social media platform.

Facebook advertising is interrupter advertising.

You’re kind of catching people off guard. With Facebook advertising, it’s like you’re trying to work your way into their social circle.

Facebook marketing, in particular, Facebook advertising, is ideal for businesses that are marketing specifically to an interruption-based audience.

Not All Businesses Should Advertise on Facebook

There are a handful of businesses that should not use Facebook ads. Remember that the news feed creates a great atmosphere for interruptive advertising. It’s not as great if your business needs to target an intent-based audience.

An ad campaign on Facebook will generally underperform if you need to meet the potential customer at the “intent” stage of the sales funnel.

For example, lawyers, insurance carriers, some doctors, law enforcement, etc. Those types of businesses need to engage the target audience at a specific moment.

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Case Study: “I need a DUI lawyer.”

I was running ads for a DUI lawyer on Facebook. But no matter what we did, we couldn’t get any of the ads to perform. What we realized is that, when somebody got a DUI, they were actively and intentionally searching for a lawyer. The target audience wasn’t sitting around, waiting to stumble upon the best local DUI lawyer on Facebook. The ads didn’t work because they couldn’t reach the person at the right time.

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One thing to note about intent is that Facebook could be a good avenue for brand awareness, instead. You just wouldn’t want to measure your success based on conversions. Instead, you would want to measure your success based on brand awareness.

Prohibited Products and Services

Businesses that sell products or services that are prohibited on Facebook obviously shouldn’t advertise on the social media platform.

There are a lot of businesses starting up that sell cannabis, CBD products, firearms, etc. Facebook won’t allow those types of products to be advertised on the platform.

You can try to get away with it. But what will ultimately happen is your ad account or your business ads manager will get shut down. Trying to sneak past Facebook’s rules will spell disaster for your Facebook page in general.

Even though everyone raves about how easy it is to advertise on Facebook, it isn’t the best platform for every purpose. To decide if it will work for your business, think about the different ways in which you could use the platform. Do you need to build brand awareness? If you answered yes, then you should consider Facebook marketing for your business. Do you need to meet your customer when they’re searching for you? If you said yes, then you might be better off advertising on another channel.

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NOTE: This content came directory from DigitalMarketer’s Paid Traffic Mastery Certification.



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MARKETING

B2B customer journeys that begin at review sites are significantly shorter

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B2B customer journeys that begin at review sites are significantly shorter

The B2B customer journey can be a long one, especially when the purchase of expensive software subscriptions is under consideration.

“The average B2B customer journey takes 192 days from anonymous first touch to won,” according to Dreamdata in their 2022 B2B Go-to-Market Benchmarks — a statistic described by co-founder and CMO Steffen Hedebrandt as “alarming.”

But the report also indicates that this journey can be significantly sped up — by as much as 63% — if accounts begin their research at software review sites, gathering information and opinions from their peers. Journeys that originate at a review site often lead to deals of higher value too.

Fragmented data on the customer journey. Dreamdata is a B2B go-to-market platform. In any B2B company, explained Hedebrandt, there are typically 10 or even 20 data silos that contain fragments of the customer journey. Website visits, white paper downloads, social media interactions, webinar or meeting attendance, demos, and of course intent data from review site visits — this data doesn’t typically sit in one place within an organization.

“We built an account-based data model because we believe that there’s such a thing as an account journey and not an individual journey,” said Hedebrandt. “So if there are two, three or five people representing an account, which is typically what you see in B2B, all of these touches get mapped into the same timeline.”

Among those many touches is the intent data sourced from software review site G2. Dreamdata has an integration with G2 and a G2 dashboard allowing visualization of G2-generated intent data. This includes filtering prospects who are early in their journey, who have not yet discovered the customer’s product, or who have discovered it but are still searching. This creates a basis for attributing pipelines, conversions and revenue to the activity.

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“Strategically, our ideal customer profile is a B2B software-as-a-service company,” said Hedenbrandt. “B2B SaaS companies are particularly ripe for understanding this digital customer journey; their main investment is in digital marketing, they have a salesforce that use software tools to do this inside sales model; and they also deliver their product digitally as well.” What’s more, it takes twice as long to close SaaS deal as it does to close deals with B2B commercial and professional services companies.

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Read next: A look at the tech review space

The Benchmarks findings. The conclusions of the 2022 Benchmarks report is based on aggregated, anonymized data from more than 400 Dreamdata user accounts. Focusing on first-touch attribution (from their multi-touch model), Dreamdata found that customer journeys where a review site is the first touch are 63% shorter than the average. In contrast, where the first touch channel is social, the journey is much longer than average (217%); it’s the same when paid media is the first touch (155%).

As the Benchmarks report suggests, this may well mean that social is targeting prospects that are just not in-market. It makes sense that activity on a review site is a better predictor of intent.

Hedenbrandt underlines the importance of treating the specific figures with caution. “It’s not complete science what we’ve done,” he admits, “but it’s real data from 400 accounts, so it’s not going to be completely off. You can only spend your time once, and at least from what we can see here it’s better to spend your time collecting reviews than writing another Facebook update.”

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While Dreamdata highlights use of G2, Hedenbrandt readily concedes that competitor software review sites might reasonably be expected to show similar effects. “Definitely I would expect it to be similar.”

Why we care. It’s not news that B2B buyers researching software purchases use review sites and that those sites gather and trade in the intent data generated. Software vendors encourage users to post reviews. There has been a general assumption that a large number of hopefully positive reviews is a good thing to have.


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What Dreamdata’s findings indicate is that the effect of review sites on the buyer journey — especially as the first-touch channel — can be quantified and a value placed on it. “None of us questioned the value of reviews, but during this process you can actually map it into a customer journey where you can see the journey started from G2, then flowed into sales meetings, website visits, ads, etc. Then we can also join the deal value to the intent that started from G2.”

Likely, this is also another example of B2B learning from B2C. People looking at high consideration B2C purchases are now accustomed to seeking advice both from friends and from online reviews. The same goes for SaaS purchases, Hedenbrandt suggests: “More people are turning to sites like G2 to understand whether this is a trustworthy vendor or not. The more expensive it is, the more validation you want to see.”


About The Author

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Kim Davis is the Editorial Director of MarTech. Born in London, but a New Yorker for over two decades, Kim started covering enterprise software ten years ago. His experience encompasses SaaS for the enterprise, digital- ad data-driven urban planning, and applications of SaaS, digital technology, and data in the marketing space.

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He first wrote about marketing technology as editor of Haymarket’s The Hub, a dedicated marketing tech website, which subsequently became a channel on the established direct marketing brand DMN. Kim joined DMN proper in 2016, as a senior editor, becoming Executive Editor, then Editor-in-Chief a position he held until January 2020.

Prior to working in tech journalism, Kim was Associate Editor at a New York Times hyper-local news site, The Local: East Village, and has previously worked as an editor of an academic publication, and as a music journalist. He has written hundreds of New York restaurant reviews for a personal blog, and has been an occasional guest contributor to Eater.

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