INTRODUCTION
Social media marketing existed way back in the mid-2000s, and it all started with MySpace. However, if you compare it to the modern state of social media marketing, a lot of things have changed since then.
For instance, social media is not just a pastime but a way of life. People use social media nowadays not only for leisure but also for essential everyday activities, such as communicating with loved ones and staying updated with the latest news. Not to mention, with COVID-19 still lurking around, you could say that social media is a go-to entertainment hub for citizens staying safe at home.
In short, people are using social media now more than ever, which makes it an excellent idea for small businesses and large enterprises to capitalise on social media marketing, starting with Facebook.
WHAT IS FACEBOOK MARKETING?
Facebook marketing is the process of promoting your business on Facebook. By launching a social media marketing campaign on Facebook, you can expect to reach out to hundreds or thousands of people since the leading networking site has 2.93 billion monthly active users today. The continuous growth of Facebook users makes it the biggest social media platform worldwide.
In the case of Singapore, there are more than 4,570,000 Facebook users, which covers around 80.37% of the Singaporean population. With such a staggering number of active users, no doubt that marketing your business on Facebook is a great way to attract customers and raise brand awareness.
Compared to other social networking sites, why is Facebook one of the most commonly used platforms for digital marketing? For starters, Facebook has global coverage, with billions of users worldwide. Also, you can increase both your organic and paid reach on Facebook, allowing you to increase your visibility on users’ newsfeed and tailor your ads to specific audiences.
The best part about Facebook as the social media marketing platform for your company is that you can integrate it with other digital channels You can integrate your Facebook page with emails, search engines, and mobile ads to create a successful promotional campaign and reach a broader audience.
KNOW MORE: How to Set Up a Facebook Marketing Campaign in Singapore?
With Facebook, the opportunities are endless. You can post videos, images, captions, and share links to help your business grow. Furthermore, Facebook lets you share links, which you use to direct traffic to your website to earn more clicks, gain leads, and possibly make conversions. You can improve your website visibility to rank higher on search engine results pages (SERPs) with all of these features.
However, all of these benefits come at a cost. Even though you could launch a Facebook marketing campaign free of charge, you might not gain much out of it because you need to invest in your ads. To create a successful social media marketing campaign on Facebook, you need to prepare a sizable budget for your ads so you can reach your target audience and gain more followers.
How much does Facebook marketing cost in Singapore anyway?
PART I – THE COST OF FACEBOOK MARKETING IN SINGAPORE
Whether or not your Facebook marketing campaign will be expensive is up to you. You can limit your budget range and control how much you want to spend on your ads. Nonetheless, it is wise to set aside a specific budget for your social media ads to enhance the performance and reach of your social media marketing campaign. The more money you spend, the better your chances of reaching your target audience.
To increase the effectiveness of your Facebook ads, you need to create a budget plan and make a worthwhile investment for your social media marketing campaign to become successful. Doing so will help you expand your reach and deliver your ads to the right audience.
6 Factors That Affecting The Facebook Ad Bidding Cost
When it comes to Facebook advertising costs in Singapore, several factors affect them, just as they do with Google Ads’ pay-per-click (PPC) advertising rates. If you want to create a realistic budget for your Facebook business marketing cost, you will need to know how these elements affect the pricing of Facebook advertisements.
Remember that every social media marketing expert needs to be smart with costs and be aware of the top six factors affecting Facebook business marketing costs. Let us review all of the below.
1. The Audience That You Are Targeting
The first factor that is affecting Facebook advertising costs is your audience. Their age, gender, language use, and interest are some demographics that can change your Facebook business marketing costs depending on which category your target audience belongs to.
To get the best results from your Facebook business marketing cost budget, try to be specific as much as possible with your target audience. It is better than having a broad audience since setting the right demographics helps you specifically target your actual potential customers.
2. Your Facebook Marketing Ad Budget
How much you can spend on Facebook marketing campaigns for your products or services also affects the price. Even though having a massive Facebook business marketing budget offers flexibility, you can still meet your goal (target your target audience) even if you have smaller funding.
Meeting your goal with a small Facebook business marketing budget should start by defining your daily expenses. How much you are willing for a campaign a day will help you allocate your budget accordingly. You can also further maximise your fund by scheduling when your campaign should appear, like what time of the day.
3. Ad Bid
An ad bid can increase or decrease your Facebook business marketing costs since it depends on how much you are willing to spend on a campaign. However, using an automatic bidding approach and maintaining a high ad quality score will help you save money on ad bids.
4. Ad Objective
Your Facebook advertising prices are also affected by the aims of your ad campaign, which range from Awareness to Consideration to Conversion. Conversion-related goals are more expensive than awareness-related goals.
5. The Ad Placement Of Your Campaign
You have numerous placement options when creating a campaign, including the news feed, right-hand column, mobile-only, Instagram, and the audience network. The cost-per-click for each of these placement possibilities is different.
But keep in mind that just because a placement has a lower CPC does not mean it will convert as well as more expensive placements.
6. Ad Quality And Relevance
The quality and relevancy of your ad is determined by how interested Facebook believes someone will be in seeing it. Facebook assigns a score to your ad based on how relevant it is to your target demographic, ranging from 1 to 10. The smaller the cost, the higher the relevancy score.
Relevance is determined by your target audience’s positive and negative activities.It can be through comments or type of reaction like they did when they saw your campaign on Facebook.
HOW MUCH DO FACEBOOK ADS COST?
How much money should you spend on your ads? The truth is, it depends on your needs and goals. For instance, if you own a small business, you could create a low budget plan for your social media marketing campaign to improve your local SEO. On the other hand, if you manage a large enterprise, you might need to invest a large sum of money in your Facebook ads to maximise your reach.
Fortunately, Facebook offers a variety of marketing options for both small businesses and large companies. To know how much you should spend on your social media marketing campaign, below is the average cost of Facebook ads.
$277 to S$1,100 might seem like a whopping amount of money, even for successful entrepreneurs. However, if you think about the benefits, the high cost of Facebook marketing is worth the financial risks. In the end, the way you manage your budget will keep your money intact and safe.
The high cost of marketing on Facebook could discourage you from continuing your Facebook marketing efforts. Perhaps you may think it is better to use Facebook for free. In reality, with so many competitors and rival businesses on Facebook, your social media marketing campaign may not produce enough results to give your business the exposure it needs.
ALSO READ: How To Minimise Facebook Advertising Costs In Singapore
If you are not yet convinced, here are a few reasons why you should market your business on Facebook.
WHY SHOULD YOU MARKET YOUR BUSINESS ON FACEBOOK?
1. REACH HUNDREDS AND THOUSANDS OF FACEBOOK USERS IN SINGAPORE
Since 80.37% of the Singaporean population are active Facebook users, launching a Facebook marketing campaign will do wonders for your business in the long run. You can reach not only hundreds but thousands of potential customers in Singapore who are using Facebook.
2. GROW AN EMAIL LIST
Once your Facebook marketing page is up and running, do not don’t expect to see your list of followers increase immediately. The challenging aspect of Facebook marketing is working your way up until you establish your credibility and gain a respectable number of followers. To do so is easier said than done, but fortunately, you can grow an email list on Facebook to attract more followers, likes, and shares.
ALSO READ: 6 Effective Ways To Build An Email List
Use the best of Facebook and its versatile features by growing your email list. You can build an email list and increase your number of subscribers by collecting email addresses from your followers. To do so, you can offer free giveaways, loyalty rewards, and newsletters, encouraging your followers to subscribe to your email as a result.
3. DEFINE YOUR TARGET MARKET
Facebook has an AI-powered ad targeting system that lets business users promote their ads to a specific audience. Its accessible features make it easy to define your target audience on Facebook. Whether you want to target a broad or niche audience on Facebook, its ad targeting system allows you to deliver relevant Facebook marketing ads fast and effectively.
LEARN MORE: Target Market Research 101
4. EARN TRUST
Your Facebook marketing campaign is the perfect strategy for earning trust and building loyalty because of its many open-ended options to reach your target audience. Sharing your blog posts on Facebook can help improve your search engine ranking and establish your brand image. You can also earn your followers’ trust and build strong relationships with potential and existing customers as a result.
Your Facebook marketing could serve as an information hub for your followers. Publish news and other engaging content to keep them updated at all times. In the long run, your hard work will pay off if you continue to post quality content that will help build your reputation and earn trust.
5. RAISE BRAND AWARENESS
The purpose of launching a social media marketing campaign on Facebook is not just to improve your website’s search engine SEO rankings, but also to raise brand awareness. Facebook offers many alternatives for lesser-known brands and large enterprises alike to reach a specific audience.
You can implement both organic and paid search methods to raise awareness. Use the social media site’s AI-powered advertising features to promote your ads to a target audience and help your business grow.
6. BOOST YOUR SEARCH ENGINE SEO RANKINGS
The relationship between Facebook and SEO has been a topic of discussion in the digital marketing industry. Some say promoting your business on Facebook will not affect your SEO, while others think otherwise.
However, since Facebook lets you share content and direct traffic to your website, there is no doubt that your Facebook marketing campaign will benefit your overall SEO strategy if you know how to do it properly. The trick is to promote your ads and improve your social media presence. Continue to deliver quality content on Facebook, and you can boost your search engine ranking SEO in the long run.
Get enough likes, comments, and shares so you can raise awareness and improve your social media presence on Facebook. The more people who follow your page, the higher your chances of directing organic traffic to your website.
7. ENGAGE WITH POTENTIAL AND EXISTING CUSTOMERS
Facebook Messenger is perfect for communicating with both potential and existing customers. You can use Facebook to your advantage by responding to queries and concerns from interested buyers or clients who have the potential to become a part of your customer base.
8. MANAGE YOUR BUDGET
When it comes to managing your Facebook ad budget, you have two options: account spending limit or daily and lifetime budget.
Your account spending limit refers to the total amount of money you can spend on your Facebook marketing campaign. On the other hand, your daily and lifetime budget will let you manage your budget range in two ways.
First is your daily budget. Here, you can set a maximum range of how much you can spend on your ads every day. As for your lifetime budget, you can set a specific duration with a starting and end date that will determine your maximum budget.
You can learn more about Facebook ad budget by going to Meta Business Help Centre.
PART II – TIPS AND TRICKS: LAUNCHING A FACEBOOK MARKETING CAMPAIGN
With Facebook as your social media marketing platform, no doubt that the possibilities are endless. You have countless opportunities to broaden your scope and raise brand awareness.
Starting a digital marketing campaign on Facebook might be athe strategy your business needs to get exposure and attract customers. But before you begin working on your Facebook marketing campaign, here are a few factors about Facebook that you should consider first.
FACEBOOK MARKETING: 5 FACTORS TO CONSIDER
1. CHOOSING THE RIGHT TYPE OF ADS
Check out Facebook Ads Manager, and you will see different types of Facebook ads. Choosing the right one is vital for your Facebook marketing campaign. Fortunately, Facebook can decide which ad is perfect for your business based on the performance of your most recent posts.
2. YOUR TARGET AUDIENCE
The goal of your social media marketing campaign is to reach your target audience and gain additional insight that will help you come up with better ads. The good news is that Facebook lets you examine specific audiences to know which one is perfect for your campaign. Send your ads to the right people on Facebook by checking their age, location, and other essential information.
KNOW MORE: The Dos And Don’ts of Facebook Marketing
3. YOUR FACEBOOK BUSINESS PAGE PROFILE
Your Facebook Business Page profile the very reason why your customers are following you on Facebook. That means you should create a respectable brand image by optimising your page with high-quality photos and descriptions. Try including relevant keywords in your description and link your website to drive traffic.
4. SETTING YOUR GOALS
The first step to making every digital marketing campaign successful is to set your goals. The good thing is that Facebook has everything you need to launch an effective social marketing campaign to reach your objectives.
With a variety of marketing tools at your disposal, you can set a wide range of goals on Facebook that may include the following:
- Raising awareness
- Increasing customer engagement
- Increasing conversion rates
- Growing a loyal customer base
- Establishing credibility
5. SCHEDULING YOUR POSTS
Feel free to focus on other tasks as you schedule your posts on Facebook. In doing so, you can publish content anytime. You can find the schedule post option by clicking on the arrow down icon beside the publish and a box will appear like the one shown in the picture below.
Before you do, plan early and check your calendar to see which dates are perfect for posting your content. Creating an editorial calendar is crucial for your social media marketing campaign because it lets you begin your campaign as soon as possible. Plus, your scheduled posts will help you keep your followers updated at all times.
ALSO READ: How to Create a Social Media Marketing Content Calendar?
FACEBOOK MARKETING: 5 MISTAKES TO AVOID
1. USING A PERSONAL ACCOUNT
Believe it or not, some people are using their personal accounts to market their business pages. While it is not wrong to use other pages to promote your products and services, the problem is that some people neglect the purpose of using Facebook for Business altogether.
To get the best results out of your Facebook marketing campaign, use your Facebook Bbusiness Page account, so you have access to efficient tools and features. Plus, your personal profile will not allow you to engage with your customers.
2. INSENSITIVE MARKETING
Facebook is home to billions of users that come from different countries and backgrounds. Failure to understand the difference between specific cultures and traditions could result in a disastrous Facebook marketing campaign. Avoid such issues with your marketing at all costs by being considerate to your customers, especially in this day and age where COVID-19 is still a threat.
KNOW MORE: Keeping Your Business Afloat: The Dos And Don’ts Of Marketing During COVID-19
When creating a Facebook marketing campaign, be mindful of current events and avoid making ads that will go against the consumer. Empathise with your customers by engaging with them more often. That way, you can deliver advertisements that can provide your customers with valuable information based on their wants and needs.
3. IGNORING COMMENTS AND MESSAGES
Whenever someone is sending you a message via comments or Facebook Messenger, tend to their needs as soon as possible. Whether the feedback is positive or negative, you should respond to your followers professionally. In doing so, you can give your followers an excellent first impression of your brand.
4. OVERSELLING
People are on Facebook for many reasons, mostly to enjoy their spare time. As such, it is a bad idea to oversell your products or else you could discourage your followers from engaging with your business. Remember, your social media marketing page is not just exclusive to marketing. You can use it to post quality content and interact with users.
For instance, you can share blog posts on Facebook to provide your followers with a wide range of topics and trends. Doing so is a great way to redirect users to your website and boost your search engine ranking SEO without overselling your brand.
5. TARGETING THE WRONG AUDIENCE
Another common mistake most marketers make is targeting the wrong audience. Facebook already has the option to let users target a specific audience, so use this to your advantage and make sure your ads are reaching the right people.
Make sure your Facebook marketing ads are reaching your target audience. Before you start your campaign, research your audience and obtain vital information that includes the person’s age, location, gender, and many more. Once you discover the ideal audience for your campaign, you can send your ads to the right people.
PART III – SOCIAL MEDIA MARKETING TRENDS IN SINGAPORE
To make sure your Facebook marketing campaign will yield positive results, you need to understand the current state of social media in Singapore as of today. After all, Facebook is not the only social media platform that has an active user base in Singapore. There are also Instagram, YouTube, TikTok, and many others becoming popular over the past years.
The changes in the current social media landscape will affect the way you should promote your business. What exactly are some of the social media trends in Singapore as of now?
1. MOBILE USERS IN SINGAPORE
A year ago, there were around 5.294.7 million mobile users in Singapore. Fortunately, the numbers continue to increase, as the expected number of mobile users in Singapore this 2022 is approximately 5.39 4.8 million users and this figure is expected to reach up to 5.68 million by 2025.
With an astonishing number of mobile users in the country, it goes to show how social media marketing continues to become an effective method of promoting your business.
2. MEN AND WOMEN FACEBOOK USERS
Some marketers have trouble finding a target audience based on the preferred gender. Fortunately, Facebook users in Singapore are active for both men and women, meaning it is easy to send your ads to the right people on Facebook.
Whether your target audience consists of men or women, Facebook is the perfect platform for your social media marketing campaign. Make sure to use the data you have gathered on Facebook to create more interesting things that can capture their attention and nudge them to take action.
3. OTHER SOCIAL MEDIA SITES
Facebook may be the leading social media app worldwide, but other networking sites are trying to take the throne.
For example, TikTok is becoming a big sensation in Singapore, ever since the country went into lockdown back in April 2021. As of today, TikTok has an active user base of 1 billion users worldwide.
In that case, you might want to consider expanding your social media marketing to other digital platforms to drive more traffic, leads, and conversion on your website.
4. EMPATHETIC MARKETING IS THE KEY TO SUCCESS
The goal of empathy-based marketing is to empathise with your audience and establish deeper relationships. An effective empathy-based social media marketing strategy can help you connect with potential customers on an emotional level.
KNOW MORE: Empathetic Marketing: How To Connect With Your Customers?
Everyone is terrified for their health and safety, so it is wise to be considerate and empathetic as much as possible. Plus, being empathetic is the key to earning trust, especially with consumers.
THE BOTTOM LINE
As long as social media continues to have an active user base, expect Facebook to remain one of the leading networking sites worldwide. That means businesses such as yours can benefit from Facebook marketing. The only thing left to consider is how you should promote your business on Facebook.
DISCOVER: What’s Next: The Rise Of Social Media Marketing In Singapore
Besides Facebook, consider other social media platforms as well, like TikTok, Instagram, LinkedIn, and many more. Choosing a suitable platform for your social media marketing campaign is crucial, so keep that in mind.
If you want to get the best possible results out of your social media marketing campaign, consider working with a social media marketing agency company in Singapore that can help you boost your search engine rankings and improve website traffic. You can also expect them to create quality and engaging content for your social media page, not just on Facebook but also on other social media platforms you use to promote your business.
Need Extra Funding For Your Social Media Marketing Campaigns?
If you are promoting and selling your products or services in Singapore, you can apply for Digital Marketing Grant and get up to 50% of funding support and receive professional help from a pre-approved PSG vendor with the following digital marketing services:
✔️ Search Engine Optimisation (SEO)
✔️ Search Engine Marketing (SEM)
✔️ Social Media Management (SMM)
✔️ Digital Asset Creation
*Only SMEs in retail sectors are eligible for 80% support until 31 March 2023
For more tips and tricks, feel free to contact our social media marketing agency agency in Singapore anytime at +65 6391 0930 or leave a message our website.
