Facebook advertising has been around for a while, but as more and more companies increase their ad spend on the platform, how’s this going to change the social media advertising landscape? Fortunately, we don’t have to look too far into the past to find out.
Remember when YouTube advertising first came on the scene? For the first few years, it was overlooked and underpriced. Anyone could easily run an ad and as a result, the creative was horrible! I particularly remember a lot of very low budget car dealership ads which made me cringe. See the example below
But thankfully, this didn’t last long! Once large brands realized that YouTube was going to be a powerful way to reach their target consumers, they simply adjusted their current Television campaigns and shifted an increasingly larger portion of their budget to YouTube. This completely raised the bar for the YouTube advertising landscape; increasing the CPC and requiring brands to run high quality creative or risk looking unprofessional. Today we see fewer ads from your local dealership and more from the world's leading brands.
By now you probably know where I am going with this. More and more brands are spending money on Facebook & Instagram advertising which means much like YouTube, the creative is getting better and the CPC is getting higher.
What this means for you
Your CPC is going to get higher – We haven’t fully felt the effects of this yet, but we know things will increase in the coming years.
Your targeting will need to be on point – to combat competition and the rising CPC, you need to make sure you are reaching the right customers and not wasting money on the wrong audience.
Your creative needs to stand out and look professional – While we still run very effective campaigns with simple imagery, we are creating more complex ads for new campaigns. This means more video, more animation, and all around more professionalism.
We have found Facebook to be one of the most cost-effective ways to reach customers and we believe that it will remain that way for many years to come. The key thing is to understand how the landscape is changing and ensure you are always one step ahead of the competition.
Want to learn more about what we do at Social Stoke? Don’t hesitate to reach out! You can learn more about our team here