If your company advertises on Facebook, you’re certainly not alone. According to Facebook’s second quarter report, the social network has more than one million active advertisers, and that number is expected to increase. One key factor in Facebook’s growth has been mobile advertising, but local advertising has played an even bigger role in the social network’s growth. Although many large companies turn to Facebook for advertising, Facebook’s recent earnings report indicates that local businesses buy plenty of Facebook ads, too.
Facebook is now a staple of most local business’s marketing strategy. Although not all businesses have chosen to advertise on Facebook, about 18 million of them have a Facebook page. Some small businesses have even replaced their own websites with their Facebook page.
Facebook’s Changes Have Paid Off
As you may have seen in previous blog posts, Facebook has revamped its advertising products, making it simpler for local businesses to create and manage their Facebook ads. Before the changes, there were an overwhelming number of products available to advertisers; as a result, some local social media marketing professionals may have chosen the wrong type of advertising for their company, and their campaigns weren’t as profitable as they could have been.
The new advertising structure helps businesses identify the right type of advertising based on their goal for the campaign. In late 2012, Facebook made it possible for local marketing experts to manage their advertising campaigns from mobile devices, which helped them save time and may have increased Facebook’s local ad revenue. In another shift to mobile, Facebook redesigned its business pages for mobile, which made it easier for people connect with companies.
Facebook Keeps Its Eye on Location-Based Services
The second quarter report shows that Facebook is actually dependent on local businesses like yours to generate revenue. Without small businesses, Facebook’s future wouldn’t be nearly as bright. For this reason, Facebook has plans to emphasize local businesses even more. The introduction of the Social Graph tool, which helps users pinpoint places in their geographic area, has been great for local businesses. A mobile version of the Graph Search is coming soon, and Facebook has also been working to acquire a local map app to its platform, but it is unclear when something like that will be available.
Take Advantage of Insights
If you purchase Facebook ads, make sure you’re getting your money’s worth. It’s up to you to make sure that your ad is performing well, and to make adjustments if it isn’t. Fortunately, Facebook’s new Insights tool makes it much easier for you to check in on your followers’ engagement with your company.