The Ultimate Guide to Facebook Advertising (2023 update)

There are over 2 Billion monthly users on Facebook.com 

Advertising on Facebook is still kickin’! Even with new social media platforms like TikTok, Facebook advertising is still a must-know for marketers. With Facebook, you can reach almost 30% of the world’s population, which is over 2 billion people! And, the number of active users on the platform keeps growing.

The key is to target your ads to the right people who are likely to be interested in your products or services. Check out this guide to learn all about Facebook advertising, including costs and how to plan your first campaign.

Businesses are already taking advantage of this platform by using it for promotions, lead generation, and conversion campaigns. Businesses are figuring out how to generate a high ROI on this platform

If you want to know everything there is to Facebook advertising, then this article is perfect for you. It can give you insight into why Facebook is one of the premier platforms for any marketing campaign.

Just like on Instagram, Facebook ads show up all over the app, including in people’s feeds, Stories, Messenger, and Marketplace.

They look like regular posts, but have a “sponsored” label to indicate they’re ads. Facebook ads come with more options than regular posts, such as CTA buttons, links, and product catalogs. To reach more users, ads should be a part of your Facebook marketing plan.

What does it cost to advertise on Facebook?

The cost of Facebook ads varies and is influenced by several factors, such as:

Audience targeting – Typically, it’s more expensive to reach a smaller audience than a larger one. 

Ad placement – Costs can differ between ads shown on Facebook and Instagram. Campaign duration – The length of a campaign in terms of days and hours will affect the final cost. 

Industry competitiveness – Some industries are more competitive than others when it comes to ad space. 

Ad costs tend to increase with higher product prices or the value of the lead you’re trying to capture. 

Time of year – Ad costs may fluctuate depending on seasons, holidays, or other industry-specific events. 

Time of day – On average, CPC is lowest between midnight and 6 am in any timezone. Location – Average ad costs per country vary significantly.

Setting the right campaign objective is crucial in controlling Facebook ad costs and increasing the chances of success.

Cost-per-click benchmarks vary based on each campaign objective, and there are five main objectives to choose from:

Conversions Impressions 

Reach Link clicks Lead generation 

The average cost-per-click for different Facebook ad campaign objectives can vary.   For instance, on average, an impressions campaign objective costs $1.85 per click, while a conversions objective campaign costs $0.87 per click.

Choosing the appropriate objective for your campaign is important for achieving goals and lowering costs.

Facebook offers various ad types and formats for marketers to choose from, such as:

Image Video Carousel Instant Experience Collection Lead Slideshow Stories Messenger This range of Facebook ad formats means you can select the best type that aligns with your business goals. Each ad comes with different CTAs to guide users to the next steps.

Here’s a deeper look at each of Facebook’s ad formats:

Image Ads

Image ads are the most basic format offered by Facebook. They allow businesses to use single images to promote their products, services, or brand. Image ads can be used across different ad types, placements, and aspect ratios.

These ads are ideal for campaigns with strong visual content that can be shown in one image, such as illustrations, designs, or photographs. Creating one is simple, just by boosting an existing post with an image from your Facebook Page.

Image ads are easy to create and can effectively display your offering if you use high-quality imagery. They’re suitable for any stage of the sales funnel, whether you’re looking to boost brand awareness or promote a new product launch to increase sales.

However, the single image format can be limiting as you only have one image to convey your message. If you need to display multiple products or show how your product works, this format might not be the best choice.

Know Your Target Market

You should be using Facebook Ads to target your niche audience. From locations to likes to spending habits,[/caption]

There are two kinds of ways to identify your target market: by their current behavior and their demographics.

When it comes to demographics, you are trying to figure out where your ideal customer lives, their age, male or female, and what their general problems are.

The more you know about your ideal customer, the more you can help them. You can create ads that are designed for them and their problems.

One of the ways to help you identify your ideal customer is to create the buyer’s persona. This is a description of your ideal buyer. It helps you create a detailed guide on what your buyer is looking for in a business and how you can help them overcome a problem.

The other part of knowing your target market when you create Facebook ads is to know their current behavior. This means you should be aware of what platforms they are hangout on, what websites they like to shop at, and what they are looking for in a product.

Behavior helps you analyze someone’s behavior when they visit your website or a specific page on your website. You are seeing how they are behaving on your site and if you need to make any changes.

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Know Your Objective

Now that you know your target market, you need to know what your objective is. In other words, you need to know what you are trying to accomplish with Facebook ads.

Your options range from online sales, brand awareness, lead generation, conversion campaigns, and others. However, the ones mentioned are often the most used.

When you have an objective, you can figure out how to achieve that result. You can figure out who your targeting and what you are offering your ideal market.

For example, if you want more leads, you need to offer consumers information that makes them a lead. You need to offer a lead magnet or some sort of guide in exchange for their information.

The more you know your market and what you are trying to achieve, the more you’ll be able to accomplish your goal. You’ll be able to generate leads or produce more sales with conversions

After you set an objective, you also want to take a look at specific Facebook ad metrics. You should be looking at clicks, page visits, cost per lead, and cost per conversion. This gives you an idea of how much you are paying every time someone clicks on your ad.

Facebook also tells you about your quality score. This tells you how relevant your ad is to your audience. If you rank a 1 out of 10, your ad probably needs some work.

However, if you rank anywhere above a 7, then your ad is relevant to your market.

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The Ad Copy

Another part of understanding everything about Facebook ads is the ad copy. You need to know how to write ad copy that emotionally resonates with your target market.

That means you should write ads that tell an emotional story. This helps connect your product to your audience. In addition, it makes the audience feel like they aren’t buying a product, but they are buying something that helps them overcome a problem.

For example, if someone were selling a bookshelf, they aren’t necessarily selling a bookshelf, they are selling something that makes the customer’s house look nice. They are selling an experience.

When you create Facebook ads, you have to think about the customer’s experience. You have to tell them a story with your ads to make them feel apart of that story. The customer should feel as if the story is about them and how you can help them.

Another ad copy strategy involves making your product appear rare or that it’s limited. When there’s scarcity in your Facebook ads, it can make your business product seem exclusive, therefore people have to have it.

Consumers don’t want to miss out on a product that can benefit them.

Try Different Audiences & Don’t Forget Retargeting

Facebook ads are unique because they allow you to test your ad on different audiences and retarget audiences who may have clicked or viewed your ad or your website. This helps reignite interest in your product.

It also takes a warm lead and gets them ready to buy.

When it comes to creating different Facebook ad campaigns, you’ll have the option to create a unique audience based on their age, location, male or female, as well as their interests.

If you discover that the ad is not performing well, you should then consider testing a different ad with a different audience. This can help you optimize performance, which is why Facebook is so great when it comes to helping you find your market.

Retargeting is another benefit of Facebook ads. Retargeting is about reengaging the audience who may have expressed interest in your business but never took action.

This means you can take a retargeted audience and reshow them ads. This can help you produce more leads at a lower cost because you know this audience is already familiar with your brand. You know they make take action because they expressed interest before.

Make Use of Videos

When you create Facebook ads, you can add photos and videos to your ads. You can make them as unique as you want without violating Facebook’s policies.

While you have the option to add photos, you should always consider adding videos because they have a higher engagement rate. This means people are more likely to watch a video about your video than stop a view of a picture.

If you do create a video, you should make sure it’s short and to the point. One idea is to make a how-to video about your product and how it helps your target market.

If At First You Don’t Succeed, Try Try Try Again

Another key part of creating Facebook ads is that you will have to try again, especially if your ads don’t well the first few times.

You may need to readjust your ad copy, your audience, or your overall offer. You should consider changing your ads after a few days if they aren’t performing well in order to reduce the loss of spending.

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Figure Out Where Your Customers Are in the Sales Funnel

A sales funnel is about taking growing your customer’s interest in your business. You want to take cold leads and turn them into hot leads, which are also knowing as paying customers.

For this to happen, you need to be aware of the sales funnel cycle. You need to know about AIDA – Attention, Interest, Desire, Action. When you have a consumer that is first introduced to your business, this is attention.

You then continue to kindle their interest in your business, giving them more of a desire to purchase something.

Finally, after you guide your consumers with knowledge of your business and build their trust, you get them to take action.

This relates to Facebook ads because you need to know who you are targeting and where they are in your sales funnel. The more you know about your market and if they ready to buy, the more you can send them the right kind of Facebook ads.

Know You Know Everything About Facebook Advertising

Facebook advertising gives you the opportunity to showcase your product to a wider audience. You can show them what you can offer and how you help them overcome a problem.

This guide is designed to show you everything you need to know about Facebook ads. You also know about the best tips and tricks to help you optimize your Facebook ads.

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