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If you have a product or service and are new to online advertising the options can be confusing.
There are a couple of important factors to be aware of:
- Facebook ads is an advertising platform inside of a social media site. You are trying to get the attention of individuals who didn't come to Facebook to click on ads.
- The Google ad platform is based on search. This means that when someone went to Google's browser they actually had search intent.
Because of the growing numbers of small businesses entering the marketplace these platforms have become crowded.
Facebook is the number one social media platform with over 2.7 billion monthly active users, according to a 2021 Statista report.
It's estimated Google processes approximately 63,000 search queries every second, translating to 5.6 billion searches per day!
Great for the platform but not so much for you the advertiser.
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Google Ads can be faster to get started with and have a wider potential reach than Facebook Ads, but Facebook Ads can offer more nuanced targeting with its pixel and potentially much more powerful tracking insights than Google Ads.
In Q1 of 2020, Smart Insights found that Google search ads had the highest CTR at 1.55% when compared to display ads and Facebook ads. This is likely because Google prioritizes ads based on relevance. While you do have to bid on keywords, the highest bid doesn't necessarily always win.
What Kind of Budget Do You Need?
Despite what some gurus may tell you to sell their Facebook or Google Ad courses you need a significant amount of money to use these platforms - even in the beginning.
According to Buffer.com the industry average settles between $200 to $350 per day. This average comes from an analysis by The Content Factory. They found that $4,000-$7,000 per month was the industry average, which works out to the above per-day costs.
But you can build up your advertising budget by starting with a resource like the one below:
- How can I talk to a live person at Facebook?
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