This is an extremely interesting view on paid advertising, especially from my experience and expertise when it comes to buying ALOT ad space with Facebook. Over the last 2 years I have spent over $800,000 USD advertising my products and sales funnels with Facebook.
Early on in my experience we would spend $2000-$5000 a day with FB, which yielded insane conversions. During the Holiday's we would rattle off $20,000-$30,000/day on our e-commerce stores selling various items of apparel.
Now, 2 years later those kind of conversions are unheard of. Facebook has drastically changed becoming extremely more competitive. Lead generation and conversion costs can get very high if you haven't adapted.
Awesome article, i would love to indulge more into this topic specifically with Facebook & Instagram
What an interesting comment is yours brother, as a student of online commerce, and digital marketing, is very rewarding ans instructive to know that Facebook isn´t so good anymore. I was thinking in starting my own page on Facebook to share content, focused on digital currencies economy ( and sorry for my english, i´m from Brazil), Blockchain technology, it´s possibilities and social impact, present and future, nanotechnology and Artificial Intelligence, since i feel that those 4 themes will dominate human society in the 21th century. With your experience, do you still think that is worth to invest my time and resources in facebook?
@rexgeorges just want to clarify that Facebook is absolutely still a catalyst in the industry of social media, and an absolute necessity if you really want to spread your message, knowledge, brand, product etc.
Don't be discouraged from my previous post that insight i provided is based on paid advertising with FB and knowing how to convert physical product into a profitable online campaign that pushes volume.
As for what you want to do you should absolutely start a page on Facebook and share your content and ideas. I will let you know though there are crucial steps you must take to build your page and by no means will you immediately find success. If you initially focus on delivering really good content, then your audience will find you but some money will need to be spent for this to happen.
Absolutely start by creating your page and name. If you want more insight on the other beginning steps please contact me! If this is a subject that people would like more knowledge and insight on I might start writing here on my blog some Beginner Guides to follow!
Hope this helps!
"I was thinking in starting my own page on Facebook to share content, focused on digital currencies economy" why dont you use steemit ?
hahahahahahahaha! Nice suggestion brother! I will do it also
Wow.. Thats lots of money on advertising. It's amazing how FB had a huge impact on the success of companies early on. Now the conversation rates /$ are poor.
Thanks for dropping by, man. Really enjoyed your insight on the issue. You should write about your experiences more often.
First off just want to say this has been my favorite article I've read since joining steemit and you got a hard follow from me @infovore!!! It's refreshing to see an outlook on this industry because a lot of people don't really understand this niche.
Early on when I first found success with FB ads there certain styles of ads I was running that contained viral content, and Facebook's algorithm couldn't really track the conversions like they do now. I'd have ads go so viral they would reach over 1,000,000M people and have engagement through the roof. Most ads had over 500,000 likes, etc.
Facebook's Ads Manager (which is their internal interface where you manage paid ads, etc) has now drastically changed. Don't get me wrong, it's still a super powerful source and my main revenue driver but to experience the changes and see it first hand with serious money on the line is eye opening.
You can still find ways for cheap conversions and be super lucrative, but need to know what you're doing. You need to watch your ads like a hawk because at the end of the day you set the budget and FACEBOOK technically can spend that budget however they want once your ad is approved.