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Is Facebook Advertising Dead? | Marketing Futures
Common Excuse #1: Algorithm Changes Makes Facebook Advertising Too Difficult
Here’s how it works. Facebook’s algorithm is separated into four basic components:
Inventory
Pretty self-explanatory. Facebook refers to all available content for a user’s feed. This includes posts from friends and family, groups you’ve joined and pages you like.
Signals
Facebook now uses signals to select what it thinks the user would most like to read or watch. Some specific signals affecting Facebook rankings include:
Comments and likes on a user’s status or photo
Engagement with publisher content shared by friends
Shares on Messenger
Replies to comments on a video
Predictions
Facebook uses your profile information and previous behaviour to decide what to show you. They automatically work out how likely you are to engage or interact with content. If the algorithm thinks the user won’t like it, they won’t bother showing it on a feed.
Score
Once Facebook has made these decisions, they’ll give the content in question a “score”. If it’s deemed “highly relevant”, that will boost the score and the article, ad or video will appear on the person’s feed. Obviously, the content will have different ratings based on the unique user.
So, if you’ve been ignoring Facebook’s Relevance Score metric, you’re going to have a much harder time getting your advertising money’s worth from the platform.
The social media platform uses Feedback from audiences to determine a score from 1-10. 10 is “highly relevant” and the best score you can get.
The Facebook Ad Relevance Score
Facebook gives your ad a relevance score after 500 impressions, but you may see your score rise after another 200-500.
Improving your relevance score means knowing your audience and making great ads. The success of paid ads depends on what speaks most to the audience, so don’t think Facebook secretly hates you. Using Facebook Ads Manager, you can see how well your ads are performing and what you need to change.
If you’ve found your best ads, and you’re still struggling to generate leads on Facebook, think of introducing a low-risk offer to your campaign.
Common Excuse #2: Users Are Leaving Facebook For Other Platforms
Another excuse to throw in the Facebook towel is that people are leaving the social media platform in droves.
Basically – if you ignore Instagram now, you’ll be left far behind when it’s time to jump on the bandwagon.
There’s plenty of niches, or niches-within-niches, out there that don’t directly appeal to the 18-24 demographic. These older demographics have more disposable income, are more likely to be homeowners, and, depending on the age range you’re targeting, up to 78% have an active Facebook account (30-49-year-olds).
If you’re still unconvinced, stats for the “Social Media Brand Used Most Often” still lists Facebook as far and away the most used platform.
Common Excuse #3: Facebook Keeps Reducing Its Targeting Options
Facebook isn’t out to make your life a misery. Most of its revenue comes from advertisers – i.e. you – so cutting off targeting options used by ethical businesses would be cutting off its virtual nose to spite its virtual face.
Again, it all comes down to the Facebook algorithm. Facebook uses profile information and previous behaviours to decide what to post on a user’s feed.
Common Excuse #4: There’s Too Much Competition
If Facebook advertising were as “dead” as some people claim, there wouldn’t be over 7 million active advertisers on the platform as of February 2019.
The contradictory excuse, then, is that there’s too much competition on Facebook, so why even bother?
If you’re trying to do PPC marketing in a competitive industry, you’ll find yourself competing with the big players who’ve been in the game for decades.
If you’re generating leads via paid traffic for your business or for a client, you need to narrow down your niche to one smaller micro niche.
The competition on Facebook is forcing advertisers to get better. Gone are the days where you can post click-bait type headlines and be done with it.
Common Excuse #5: Facebook Is Too Expensive
There are tonnes of reasons why Facebook advertising costs are rising.
In reality, however, Facebook is still the cheapest advertising platform by miles if you’re aiming for reach.
Conclusion
It also doesn’t hurt to expand. If you’re worried about Facebook, now is the time to look into Instagram and YouTube marketing. But I wouldn’t jump the Facebook ship just yet.
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