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Which Online Advertising Platform Offers The Most Bang For Your Buck?

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by Jennifer Hahn Masterson, Lead Content Strategist at Spread the Word Solutions

It’s time to sit down and map out your advertising strategy. But with various advertising platforms in the mix (Facebook, Instagram, YouTube, Google, and more), which boasts the most bang for your buck?

In this article, we’ll look at four metrics for advertising effectiveness, including:

  • Value for money
  • Finding the right audience
  • Virality potential
  • Platform advantages

Ready to reach more people? Let’s get started.

Which is the best online advertising platform?

The answer to that question depends on who you ask. For instance, a small business Etsy shop owner will likely have the most success using a product-based advertising platform like Instagram or Facebook.

Meanwhile, aspiring entrepreneurs savvy to tech trends might go viral on TikTok. Local businesses will want to pour their ad dollars into Google. Over on YouTube, tech, education, marketing, and social media professionals can attract a sizable audience.

Each platform has perks, but is there one advertising platform that dominates?

For small business owners, new and aspiring entrepreneurs, and recent graduates, Facebook ads are your golden ticket. Why?

Keep reading to find out!

1. Value for money.

Facebook has a massive user base with 2.74 billion active monthly users. Throw into the pool Instagram’s one billion users, and you have the potential to reach a generously sized audience.

Facebook ad costs vary between $0.50-$2.00 per click depending on the ad type, market competition, and target audience. However, Q3 of 2020 saw a 9% average decrease in costs, generating a more robust ROI.

Considering the average user clicks 12 ads monthly, getting your ads in front of them is a good value considering the broad user-base.

2. Connecting you to the right audience.

As a current master in visual design and communication is teaching us, each sign is commonly followed by a reaction. Now, we know Facebook and Instagram’s collective audience is massive, but how can you have confidence that your ads will reach the right people? What this means is that your customers will choose

For one, Facebook’s ad manager wizard guides you through each step to easily create ad campaigns with audience parameters. Setting precise target demographics (age, gender, profession, interests) helps you create laser-sharp campaigns targeting the right people.

Most importantly, you’ll want to test your campaigns and track the results to see what’s working and what needs tweaking. When you nail the audience parameters, you’ll get your ad in front of the right eyes, making them more likely to engage and take action.

3. Ability to generate virality.

When we talk about virality potential, there’s no disputing that TikTok and YouTube win here. However, don’t knock Facebook just yet. Brands and marketers quick to post consistent, highly shareable content generate virality with ease.

What’s the secret combo to viral success?

Grab your audience’s attention. People scroll through their news feeds and rarely stop to take a closer look. Create emotionally resonant, stimulating marketing ads like videos, infographics, and standout imagery. We suggest using PosterMyWall, a free graphic design tool for creating online ads without having to splurge on a costly graphic designer.

Post frequently. Your content should stay in your audience’s sights. Consistently share high-quality, interactive content that urges them to share, tag a friend, or comment with their opinion.

Share user-generated (UG) ads. Nothing makes your company more human and personal than sharing content directly from your users, and this is where Facebook ads shine. Putting your customers in your ad shows your target audience that real people love your product or service. Best of all, UG ads are cheap and effective, generating four times the click-through rates than conventional marketing ads.

What are you waiting for? Time to go viral!

4. Advantages unique to Facebook ads.

Look, Facebook ads are a hot topic because some businesses love them while others avoid them like the plague (too soon?). But if you take a closer look, you’ll see that Facebook ads have significant advantages over other advertising platforms:

  • Perhaps the biggest draw to Facebook ads is its integration with Instagram, and you can create campaigns that merge from Facebook to Instagram to reach more people.
  • Facebook ad manager offers the most dynamic analytics to track and monitor ad effectiveness.
  • Facebook has a huge user pool, making it easy to narrow and define your target audience and attract them to your business.
  • There’s no limit to the type of ads and campaigns you can create. So while one campaign can promote a product launch, another can work to build brand awareness.
  • Say a user interacts with your ad but doesn’t take action. Facebook’s remarketing feature helps you bring them back to boost conversions.

Over time, you’ll likely branch out to experiment with additional advertising platforms. However, to kick your marketing efforts into high gear, Facebook ads are the launchpad to propel your business forward and sustain long-term growth.

 

Jennifer Hahn Masterson is the Lead Content Strategist at Spread the Word Solutions, holding an MA degree in business communication. She is always doing her best to help her clients find their place in the ever-so-competitive business arena, insisting on long-term sustainability rather than on some questionable get-rich-fast scheme. You can check her out on LinkedIn.