Despite ad price hikes, savvy small business owners can still find customers online.
Some small businesses are using their ad dollars more sparingly on Facebook. As competition for advertising on the site has risen, so have its ad prices—which grew by 123 percent in the second quarter compared with a year earlier—while ad impressions and ad space declined.
But businesses with a $10 per week budget can still get results through Facebook, says Tampa, Florida-based marketing consultant Mike Kawula, who has noticed a slight increase in his Facebook advertising costs.
“Use demographics, behaviors and interests, all targeting options in Facebook’s Ads Manager,” Kawula says. “If small business owners are just allowing Facebook to choose whom to show the ad to without really diving into the Ads Manager, then they are missing out.”