Is Facebook too big for small businesses?

In business when it comes to advertising and marketing there are two things you absolutely need to accept 1) advertising is entirely necessary and 2) good advertising costs money- not a lot of money if done correctly, but it won’t be free.

Getting your advertising at the right price is critical.
If you’re a Bluechip corporation spending (essentially) other people’s money to promote yourself it’s likely that very little emotional or any great consequence is attached to expensive advertising decisions, but if you’re a small business it’s likely that the advertising money is coming from your own back pocket – so getting your advertising at the right price and getting it to work is critical.

So you’re small, you have a little money to dedicate to an advertising campaign and you want the absolute best result – what do you do? New media? Traditional media? Both?

These are simple questions but they have deep impact on a small business and they’re questions that we constantly ask at HoneyBadger. Our entire charter revolves around getting the best bang for a small businesses buck when it comes to advertising. Whether its digital, online, radio or newspaper we’re always endeavouring to make the most of what’s available. One of the most effective methods we suggest to some of our clients is Facebook Advertising.

Facebook for business

We need to understand that there’s a vast difference between having a Facebook Page for your business, posting things for your followers and actually advertising on Facebook.

For example, if you want to target and market specifically to 36-year-old, married women who live in Newcastle, graduated from Durham University, work at a bank, vote Labour, and love the Harry Potter movies, you can.
Importantly if you are a small business you can tailor a budget that works for you – always remember though that frequency is key. If you can’t afford to sustain even a light level of frequency continually to the same audience, you won’t create the effect and return-on-investment that you may be expecting.

Like all media platforms you’ll easily be able to find stories about how Facebook advertising doesn’t work, equally so you can discover just as many stories about bad experiences with radio, newspaper, TV and just about anything we can list. The truth is advertising works, it must, why else is so much money invested in it? Facebook advertising spend is currently sitting at a whopping $17 billion AND has grown by over 425% In the last 3 years, so there must be a good reason for this

Building a brand

Always keep in mind that (in fact) most advertising is passive. It’s generally more about building brand over the longer term. And always remember that just because you’re ready to sell something it doesn’t necessarily mean people are ready to buy something – people will buy when they’re ready and not before and that’s why consistency in your advertising is absolutely key.

In our experience the very best advice we can give small business around Facebook advertising is that it’s great for growing and maintaining your brand awareness, increasing your social exposure and attracting and growing new business. And importantly with Facebook you can manage, measure and therefore massage your advertising into the right shape. Facebook allows you to track things like your advertising impressions, its reach, of course your likes, shares and comments but you can also get a deeper look at your actual frequency and click-thru rates – which are all exceedingly important because unlike traditional advertising you can correct the course of your advertising on the run – improving it in real-time.
Facebook has designed a self-serve ad manager for small business people to use. Its relatively easy to set up an account and launch your first ad campaign but if you want some simple, effective and affordable advice why not give one of the team at HoneyBadger a call? After all, we do this for a living.