Social media marketing is like visiting an ice cream parlor. Before deciding on a flavor that will keep you most satisfied, you can taste all the free samples first. With social media, it’s as effortless as distributing a company message across all channels to determine which channel generates the most leads. And just as your final ice cream choice depends on your preferences, mood and budget, your social ROI also depends on the types of customers you are trying to reach, the time of day you post and your ultimate marketing budget.
Factors aside, there’s one social platform in particular that many marketers found to produce the highest ROI — Facebook. A recent survey revealed 95.8% of social media marketers think Facebook leads to the best ROI, followed by Twitter at 63.5% and Instagram at 40.1%. This statistic is not surprising considering it has the largest number of users. Provided that Facebook allows you to reach more people, it’s clearly the better platform to invest in social marketing.
With 84% of B2B marketers using Facebook, the potential to gain conversions in this space is greater than in other channels. If Facebook is outpacing all the other social platforms in terms of returns and profits, marketers should keep a few things in mind before going all in. This means trying all potential ice-cream flavors to ensure that chocolate is the ideal choice for a two-scoop cone.
Adverts vs. Company Pages
There are two easy and effective ways in which you can advertise on Facebook. The first is by running adverts where you can choose the audiences to target based on location, age, interests and more. This can bring you real results. The second is by setting up a Facebook company page to be liked by your customers where you share content, send updates and engage with users. Although both are optimal ways to approach your Facebook marketing strategy, there is one key difference that separates them: money.
Facebook ads operate on two models: cost per click (CPC) or cost per 1,000 ad views (CPM). In the US, the average click costs $0.24 whereas the average CPM costs $0.66. However, these numbers vary based on several factors, such as competition for the ad space, company size and demographics you are hoping to reach.
On one hand setting up a Facebook company page is free and serves to brand your company by reaching customers on their terms. On the other hand, it requires a great deal of effort to constantly publish valuable content. That’s why having a social publishing platform can help manage an editorial calendar and provide you with analytics to accurately tailor the content to your audience.
Facebook is undeniably a social media giant with over 1 billion active accounts and 40 million active small business pages. With user presence continuing to skyrocket and making Facebook a ROI-friendly platform, enterprises should consider wisely whether to invest in an ad or an account.