Everything About Facebook Advertising Revenue
Facebook advertising revenues have been steadily increasing ever since the website began implementing ads in 2006. Today Facebook has over 845 million users, and those users have created an advertising behemoth: currently, Facebook advertising revenue figures are around $3.15 billion per year. Keep reading to find out more staggering figures about Facebook advertising revenues and how you can make your ads work for you without costing an arm and a leg.
Recent Controversies and Their Effect on Facebook Advertising Revenue
Earlier in 2012, Facebook advertising revenues suffered something of a setback when the company settled a class action civil suit. The suit pertained to “sponsored stories” appearing in people's news feeds and using photographs of people who had not given explicit permission for their photo to be commercialized in this way.
In spite of having to pay millions of dollars because of the class action suit, overall Facebook advertising revenues are up. The site currently takes in about $10 of Facebook advertising revenue per user in the United States and Canada, and slightly less than that in other regions globally.
Although some big players have withdrawn their support for Facebook advertising after seeing less than ideal results, this has had little impact on overall Facebook advertising revenues. Overall, Facebook advertising revenue has actually gone up even as click through rates (CTRs) have declined by about 8 percent over the last year.
Is Facebook Advertising Revenue Really Worth the Time?
Since you now have to pay more to get less, are the Facebook advertising revenues your firm could get really worth it? You have to ask yourself these questions more and more, particularly if you're not able to see a direct stream of Facebook advertising revenue for your company in the current economy.
Remember that your Facebook advertising revenues may not all be obvious. Not every client who researches your firm using your Facebook page or by looking at who “likes” you will let you know during their consultation visit.
The effects of Facebook can be very subtle, and it's best to try to track Facebook advertising revenue from all sources, even if some of that revenue comes from clients who didn't click your direct ads. Visibility and reach are key to expanding your practice, and you can't necessarily put an easy price tag on building an engaging web presence.
What Law Firms Will See the Biggest Facebook Advertising Revenues?
Before you decide on an advertising budget for your new campaign, you need to ask yourself how much Facebook is really worth to your law firm. For some types of firms that market primarily to other professionals, Facebook advertising revenues may be minimal compared to what you could bring in using LinkedIn for more professional networking.
If, on the other hand, your law firm's advertising strategies usually rely on B2C marketing, you'll be much more at home on Facebook. Firms that fulfill the needs of very specific demographics and know what their niche markets look like can do better on Facebook than general practitioners. If you think that you do most of your business with a particular age group or people with some shared interest, you can make that work for effective, targeted ads that will deliver the best value per click and make your Facebook advertising revenues grow steadily.
How Can I Increase My Facebook Advertising Revenue?
Facebook advertising revenue is likely to be highest for firms that can leverage sponsored stories to their advantage and use landing pages. Just making these two changes can vastly increase your conversions and overall Facebook advertising revenues.
Landing pages work for any kind of direct pay per click ad, but if you want to have real Facebook advertising revenue with your campaigns, you'll definitely need them to grab social media traffic. People today want to be able to get through websites and find the information they want quickly.
If you don't direct visitors to a relevant landing page, you'll be losing out on a lot of traffic and it won't matter what you bid for your clicks—people won't stay long enough to find out that you're a great law firm with great things to offer. People decide whether they want to talk to you within the first ten seconds of reading the first page they're directed to on your website. Without landing pages, that first ten seconds will be confusing and potentially frustrating.
The Future of Facebook Advertising Revenues: Mobile Advertising
As of summer 2012, only about half of advertisers are adding to their Facebook advertising revenue by running sponsored stories. These stories appear in a person's news feed, in the same place where a status update from a friend or a link shared by a colleague might be. This high-visibility placement is especially effective for generating higher Facebook advertising revenues when you're posting frequently to a blog and can turn those entries into a constant stream of fresh sponsored stories.
If you're not currently optimizing your Facebook ads for mobile marketing, you're missing out on the most lucrative source of Facebook advertising revenue. Studies have shown that these ads can be up to 11 times more likely to generate click throughs than ads in a desktop browser.
How Can I Tell If I'm Getting a Good Return on Investment?
One of the best ways to tell if your Facebook marketing efforts have really been turning into Facebook advertising revenues is to ask clients to fill out comment cards. On these comment cards, you can ask where someone researched your firm before deciding to use you as a lawyer. This way, you'll find out about clients who saw your professional presence on Facebook and used it in their decision-making process.
You may want to ask an outside analytics company to analyze your results if you want to maximize your return on investment and have already tried all of these strategies to increase your Facebook advertising revenues. The problem with your Facebook advertising revenue stream may be something unusual, and a professional web traffic analyst can help you get your revenues back where you want them from your Facebook pages.