Facebook is a social media platform that enables businesses to connect with their existing and new customers through the Facebook Business Page. The cost to advertise on Facebook depends a lot on your industry, campaign objective, and many other factors.
Businesses in Nigeria have been able to leverage the Facebook platform to reach new and existing customers through Facebook advertising, but the cost of advertising on Facebook in Nigeria has been an issue for business users.
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Table of Contents
What is the cost of your product or service?
Your budget is a determinant of what Goals or objectives you intend on achieving.
Knowing the cost of your product/services would help you understand the budget you will need in running your Facebook/Instagram ads.
For example, a phone cost less to buy than a car, because it cost less, obviously, you cannot use the same amount of money to run ads to sell a phone and the same amount trying to run ads to sell a car.
Read More: How Much Do Instagram Ads Cost in Nigeria 2022?
Ads Duration
A lot of people keep asking, “Can we run ads for one day or two?” For your Facebook ads to convert, you should give the ad at least 3–4 days or a week for the Facebook/Instagram algorithm to actually look at people who are engaging with the ad and also, so that it can be shown to people who are interested in it, put into consideration, “I’m going to be spending this X amount on ads for at least a week to test if the ads are working or not.”
A/B Testing
A whole lot of people expect their ads to perform magic with just a picture or a post. You never know what converts when it comes to ads. With A/B testing, you can change variables, such as your ad creative, audience, or placement, to determine which strategy performs best and improve future campaigns. The A/B test lets you quickly compare both strategies to see which one performs best.
What Is A/B Testing?
A/B testing is a marketing strategy that pits two different versions of a website, advert, email, popup, or landing page against each other to see which is most effective.
Advertising on Facebook can really help grow your business online and it’s a platform that you need to utilize effectively.
Conclusion
When it comes to your business’s annual advertising costs, it’s essential to consider which channels offer the most value. If Facebook provides a tremendous return on investment (ROI), then it makes sense to direct more of your advertising budget to it.
If you’ve never advertised on social media before, you want to think about your audience and your goals. For businesses that have an active audience on Facebook, it makes sense to invest in Facebook advertising.
