21 Myths About Facebook Ads Every CMO Should Avoid
We have all witnessed the rising popularity of social media giant Facebook, not only as a social media platform, but as an advertising platform as well. Whether it be big or small business, irrespective of any industry, most of them are on social media these days. And most of them also use popular social networking sites for advertising as well. We can gauge the importance of advertising on Facebook from the fact that 92% of all advertisements that are on social media are on Facebook.
The popularity of advertising on Facebook doesn’t seem to decrease, with businesses, whether big or small, from all industries, are advertising on Facebook. This as a flip side as well, as there are too many myths surrounding Facebook ads, which restricts CMO’s and marketers to achieve full potential of their Facebook advertising strategy.
We help you to bust 21 popular myths about Facebook ads you should absolutely keep away from, so that you can generate gains from your social media strategy:
21 Popular Myths about Facebook Ads
#1. Facebook Ads are good for just branding
This is one of the most oldest and perhaps the commonest myth most of the CMO’s may have about Facebook advertising. This myth was more common when Facebook was just starting out with advertising, and not many people knew about the various types of marketing Facebook ads could cater to. There was also a misconception that advertising on Facebook was costly and only big brands with deep pockets could afford to do it. Hence, many businesses lost out on the advantages of advertising on Facebook.
Even as Facebook advertising evolved, many businesses saw it as an alternative to email marketing, and considered that it was good enough to only generate “likes”, and only increase their fan base.
This certainly isn’t true. Many brands have been successful in delivering campaigns in other ad formats, such as Lead Generation and Videos. And numbers are a proof. According to a research, 37% of advertisers chose post engagement as their objective, while only 7.7% chose page likes as their objective.
#2. Most of the “likes” received on Facebook are fake
Most of you may have doubt that most of the likes your campaign receives are not genuine. While there may be quite a number of clicks which may be generated by bots or click farms, you need not worry as every social media platform gets a small percentage of fake clicks. And it will not affect your campaign’s performance.
Facebook constantly tries to get rid of these fake accounts. Also, it may be noted that Google Analytics and Facebook track very differently, so there may be discrepancy between the two. As long as your ROI is positive, it should not bother you, and you should continue advertising on Facebook.
#3. Facebook ads do not work for B2B businesses
Many B2B businesses assume that advertising their products on Facebook would not be profitable. This is a common myth since it is a common perception that people use Facebook in their leisure time, and to socialize with friends, and you would not find many industry players there. Well, this perception is wrong.
Take the case of Intel,which is a B2B company adopting the tactics of a B2C company in its traditional marketing. With the original “Intel Inside” campaign, launched more than 20 years ago, the microchip manufacturer became a household name to consumers who would never buy a product from Intel.
#4. Views don’t matter- only clicks
Most of the marketers and CMO’s may think that choosing CPC as a bidding option might work the best for them, since they will only have to pay for each click they, and not a penny extra. While this may hold true in some circumstances, but consider this if your goal is to generate sales. You may still be charged for clicks on your page, or your website, where most of them may be irrelevant for you.
Hence, in this situation, it is the number of views that matter. You can choose optimized CPM to allow Facebook to show your ads to those people who really care about your brand, and hence receive more qualified traffic.
#5. Advertising on the right column is useless
Again this has been a common perception amongst marketers and CMO’s lately. They think that advertising on the right column of a news feed would be a waste of money since this portion does not catches people’s attention.
Well, it would be wrong to say that. While the statistics show that this space in the news feed does get 10 times less response than the news feed, it can still be considered be an option. Consider this – this space has more inventory and also prices are much cheaper for this slot. And you get a fair amount of CTR from this section. If you want to advertise on Facebook on a low budget ,this might be your ideal space.
A good tip to advertise on this section would be to use pictures with strong visual contrast to grab the attention of the users. Also, retargeting on this section might work well since a user already knows your brand, so it will grab his attention even it is in a less visible space.
#6. Facebook adverts are only successful if they reach the consumers immediately
This is a wrong perception which needs to be sorted out. Any marketing strategy will reap benefits only after a period of time, and same with social media. You need to devote time to your Facebook marketing strategy in order to reap benefits. You won’t start receiving clicks in one or two days, or be able to generate conversions.
One way of knowing if Facebook could work for you as a part of a longer term strategy would be to byu test placements, and do split tests to determine which variables (size, placement, creative message, frequency, impression) affect your consumers in what manner.
#7. Instagram ads costs too much / don’t matter
Many marketers and CMO’S are hesitant to advertise on Instagram, since they consider it too costly and wastage of money. Or that the result they get from Instagram do not matter.
Instagram ads may certainly be more costlier than average Facebook ads, but they can also drive in good results. Especially for app installations campaigns, Instagram ads have shown positive ROI and higher CTR’s and engagement rates.
So, there is no reason not to advertise on Instagram, if you can find your customers there, and get a positive ROI.
#8. Facebook ads cannot be tracked
Many advertisers don’t advertise on Facebook since they are not able to track conversions properly. But if you don’t know how to track conversions properly, how would you be able to know if Facebook is working for you or not?
There are lot of tools which can come to your rescue, including Facebook Pixel which can enable you to track the conversions to your site and see which of your leads clicked or viewed the ad.
However, you must avoid last-click methodology. By looking at each interaction or touch point with consumers, you will get a pattern of consumer behaviour and understand their needs better.
#9. It’s fine to buy Facebook likes
This is probably the most dangerous myth and can hurt your Facebook campaign and hence your ROI. If you want a successful social media strategy, then you shouldn’t be even considering this method to increase your likes. No matter how much appealing it may look like, selling likes on Facebook is scam and will hurt your company in the long run.
#10. Facebook ads only works for remarketing campaigns
While this may hold true, this myth needs to be busted right away. Remarketing campaigns may have a lot of potential on Facebook and may hold massive potential for higher ROI’s. This is definitely not true and many companies have garnered higher ROI by targeting new audience on Facebook.
For example, ads that prompt app installations do well on Facebook and Instagram ads when targeted correctly.
A good example would be Gamertime, which saw 20% increase in ticket sales (in app purchases) per month with 34% lesser cost per acquisitions compared to other channels.
#11. An ad can contain as much text as one may want to
Facebook earlier had a 20% rule for text in ads, which mandated that images could have no more than 20% text or they would be rejected. Though this rule does not exist as of today, it doesn’t mean that Facebook would not regulate the text in images. It still has “recommendations”, which will heavily restrict the reach of your ads.
#12. The competition for Facebook Page Likes and Facebook Post Engagement are at an all time high
A study by Socialbaker’s has shown that in North America, the cost-per-click rates for Post Engagement and Page Like ads are decreasing. Not only that, advertisers are allocating lesser budgets for these campaigns.
As more page like ads have saturated people’s news feeds, CTR on these ads have decreased. But this does not mean marketers cannot use these methods successfully to drive-in ROI. Instead, these can be used to retarget users who have previously engaged with your content.
#13. CPC on all ad types have increased as more advertisers are competing on Facebook
This is not true. A study shows that except for Mobile App Installs and Post Engagement ads, most CPC rates have remained relatively stable in the past few years. Thus, don’t miss on the opportunity to advertise on Facebook, since the CPC can skyrocket in the future.
#14. With the rising popularity of video ads, most advertisers are allocating chunk of their budget there
Although budget allocation for video ads increased by 150% from 2015 to 2016, according to Socialbaker’s data, they made up only 12% of advertising spend for marketers.
Video advertising has grown in a big way on Facebook, but that does not mean marketers are allocating chunk of their budget only behind it. It is so because video ads require more resources and efforts to produce. You can use this to your advantage and increase the ROI from your ads by putting resources into video ads that will ideally increase your conversion rate.
#15. Advertisers prefer ads which keep the users on Facebook
That is not true. It is a fact that in February 2016, website conversion ads made up 39% of all ads on Facebook, and 39% of total spend.
It means the largest chunk of marketers Facebook budget goes there. Website Conversion ads take away the user from Facebook to the advertiser’s site in order to get a conversion. This has a disadvantage too, since users are taken away from Facebook and this becomes irritating for them
Marketers clearly prefer Website Conversion ads Lead ads, which is similarly-goaled and which keep the user on Facebook only. You can use this to your advantage and try using Lead ads to increase conversions, which do not force users to leave Facebook.
#16. Most advertisers use Facebook to increase their fans and post engagements
Although advertisers may use Facebook for many purposes, many marketers are allocating the majority of their ad spend to get more people to convert on their website. According to a report by Socialbaker, Facebook advertisers are spending more on and creating more website conversions rather than other ad types.
Although Website Conversion may be an important form of advertising, since they have become so popular and have been overly used, the user’s news feed have become saturated with them. In such situations, as a prudent marketer, it would be wise decision not to focus all your marketing efforts on only one ad type. Instead, you can use your Website Conversion ads for remarketing campaigns, and use other ad forms for awareness campaigns.
#17. Website Conversion ads are becoming obsolete with the coming of Lead Generation ads
This is not true. Website Conversion ads still remain one of the most preferred ad forms for advertisers. According to Sociabaker’s report, as of 2016, less than 1% of advertisers’ budget was spent on Lead Generation ads. Meanwhile, budget allocation for Website Conversion ads was increased by 50% in one year.
Despite Lead Generation enabling advertisers to generate conversions on Facebook itself, without the user having to forcefully leave the site, its adoption has remained low. So, you can take advantage of this and use Lead Generation ads so that you can enhance the user experience.
#18. Facebook ads are best used for bottom-of-the-funnel marketing tactics
While setting up your ad campaign, keep the marketing funnel in mind. You may want to reach your consumers at every stage of interaction. While some marketers may think that advertising is primarily a bottom-of-the-funnel thing, but Facebook ads can actually work well for each stage of the funnel.
Modern marketers want to reach consumers at every stage they can interact with the consumers. While your middle and bottom of the funnel might be retargeting campaigns to bring back consumers who have already visited your site, and either make them convert or buy, your top-of-the-funnel campaign should be content that’s focussed on awareness, just like any other organic post.
#19. The most common way of sharing videos is via Youtube links
While this may be hold true for some of the cases, but things are changing for sure. According to SocialBaker’s data, Youtube links were the most commonly shared video format on Facebook earlier. But since early 2014, company pages on Facebook have increasingly started to share some native video posts, due to their rising engagement from users.
Hence, if you want to advertise in video format, it is best that you upload them directly to the platform (or native videos) rather than posting Youtube links. Doing so will help you get better data about the engagement rate of the video with your consumers, and it will also provide them with a better experience.
#20. Subtitles on Facebook videos are Distractive
Well, this may not hold true for most of the cases. According to a study, 85% of all Facebook videos are watched without sound. This makes subtitles important if narration or dialogue in your video form an important part of your video’s content message.
So, if videos form a part of your advertisement, you can gauge the importance of subtitles from the above fact. So, in order to make most out of ROI from video advertisement, make sure to add subtitles, if necessary, unless it has words written in vido frames.
#21. The use of 360 videos has increased dramatically since its inception
Spherical videos via Facebook 360 were rolled out in early 2016. But it’s adoption among companies has remained low. Fewer than 3% of the companies were using spherical video feature as of 2016.
If you want to dish out something unique to your consumers, this is the best time to use Facebook 360, since not many companies are using it. This will enable you to create compelling content in formats your consumers generally don’t see.
These are some of the commonest myths about Facebook ads, which every CMO and marketer should avoid, in order to reap benefits from their social media strategy!
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