How much do you really know about Facebook ads? From my experiences with several of my clients, many business owners know little, if not nothing about Facebook ads and their potential for businesses.

I’ll admit that when I started my business, I was hell-bent on doing all of it organically. I loved the idea that businesses could grow with a shoestring budget and some good ol’ guerilla marketing techniques. But the reality is this. Times have changed and social media networks, like every business, need to make money somehow. One way they do this is by utilizing advertising. Facebook is probably the most notable for businesses taking advantage of advertising options.

Not advertising on Facebook, at least to some extent, can be detrimental to your Facebook business page. Especially since typically less than 16% of organic content will even be shown to your audience who already likes your page – let alone potential newcomers.

Today, I wanted to talk about some Facebook ad myths, so you can decide whether setting aside a piece of your marketing budget is a good idea or not.

1) The best kind of Facebook ad is a “boost post”.

Not usually. Although this type of ad is the simplest to initially create, it’s not necessarily the most effective. In fact, it can be one of the least effective ads due to the limit of customization and the typical omissions of a CTA (call to action) in a regular status update.

Facebook provides far more robust advertising options than many people realize. Along with boosting posts, you can create advertising campaigns that are intended to increase page likes, drive traffic to an app on your Facebook page, or even get conversions to your website.

2) Boosting every post is a good idea.

Again – not necessarily. Is it true that boosting every post will likely get you more engagement on your content? Yes. But if your content doesn’t have a solid purpose to capture leads or really keep the viewers of that content engaged, it’s likely not worth paying the money to boost posts all of the time.

So while boosting posts can be a great idea, especially if you’re running a contest or you start to notice some really good organic traffic coming your way. Unless you really want to see if you can start getting some virality off of specific content, it’s not necessary to boost every single post.

3) Advertising on Facebook is expensive.

As with any other form of advertising, the sky is the limit with how much money you could potentially shovel into it. But realistically, your ad budget for Facebook can be quite small to make a fairly big impact.

You can run entire ad campaigns for as little as $1 per day (although I’d recommend running them between $5-$10 per day per ad and going from there). Facebook gives you the options of setting start and end dates or lifetime budgets so you only spend what you tell them you are willing to spend.

Think about where else you are potentially shoveling advertising dollars. Could you potentially be getting better results and spending less money doing it through Facebook?

4) It’s not possible to generate new business using Facebook ads.

I’ve heard this one a few times and I just don’t buy it. Facebook ads have tremendous targeting options. As in creepy, big brother, stalker-like targeting options. For personal Facebook users, this can sometimes get a big intrusive. But for business owners and marketers, it’s ideal.

I’m not going to get into the nitty-gritty of all of the targeting options that Facebook has, but besides very specific location targeting and demographical targeting, you can also target people based on their interests, pages they like who may be competitors of yours, their buying patterns, and more. You can even target Facebook ads to people who have already opted into your email newsletter. Or better yet, by implementing ads based on their previous computer search history.

Haven’t you ever been browsing Facebook and noticed that the sweater you had just been looking at over on Old Navy magically has appeared in your feed? There’s a reason for that. And it’s because of the robust targeting options available to you with the ads interface. So if you don’t think Facebook ads can target the people you are looking for…think again.

5) Targeting ads to more people is the best strategy.

You might think that when you do target ads, targeting them to a huge range of people is a great idea so more people see it. But keep this in mind. The more people you target to, the more other businesses you are competing with for that ad space. Also, you’ll be targeting to less people who are qualified leads who will see your content.

For the sake of success of an ad and your budget, it’s best to target pretty darn precisely. Since you can create as many ads as you want to run at a time, it’s a good idea to figure out your goals, customer demographics, and your overall game plan to really hone in on who each individual audience will be per ad or ad campaign.

6) Facebook ads don’t make businesses money.

Here’s the good news. Any advertising you do with Facebook includes very thorough reports so you can track how ads are performing. In addition, your Facebook ads don’t have to only send people to your Facebook page. In fact, it’s recommended that most of your Facebook ads don’t send people to your page. Facebook has ad capabilities so you can tell if someone took an action on your website, like bought a product, signed up for an email newsletter, etc. If you can create ads to do that, why would you just send them to your Facebook page?

Realistically speaking, if you don’t do your research, plan your ads, know your goals, your audience, and even things like what image sizes will work best, you could lose money off of them simply because you didn’t execute them in the best way possible.

From my experience, I’ve noticed some great success, even simply with brand awareness, from having small budgets and utilizing Facebook ads.

Hopefully this article has started to put some of your doubts about Facebook ads into perspective. And if you’d like a one-on-one training about how to get started using Facebook ads, I’d be happy to set up an appointment with you.