So why is there so much discussion around Facebook Advertising and Google AdWords in the paid media space? Simply put, the continual growth year after year cannot be ignored.
According to Forbes, Facebook saw a 50% increase in active advertisers from 2015-2016 and reached 3 million advertisers. In addition, Facebook accounts for 65% of total social network ad spend expected to reach $36 billion this year. Why such a significant growth? This is primarily due to the platform’s targeting capabilities, the growth of mobile, and the growth of engaged users.
Not to be entirely outdone, Google saw a 17% increase in revenues year over year, comparing 2014 to 2015 according to AdAge. Growth in revenues for AdWords are primarily attributed to the growth of mobile, shopping, and other ad formats.
So, when you must select one advertising channel over the other, which one should you choose? As a side note for this article, when I talk about Google AdWords I’ll be speaking primarily to their search product (so please keep this in mind).
There are several factors to consider when deciding which advertising channel is best for your organization.
Digital Advertising Budget & Average CPC
In most cases, the cost per click (CPC) will be significantly higher for Google AdWords than Facebook ads.
Your Industry & Your Competition
A related point to the first is you should consider the industry of your business and your competition when trying to make the decision.
Defining Your Objective
Once you’ve determined what your organization can afford and you’ve considered the industry and the competition, you then should consider what you’re hoping to achieve from this marketing initiative.
Stage in Buyer’s Journey
Understanding where the user is in the buyer’s journey will also help you decide which advertising channel to leverage. If you are looking to capture users in the moment of looking to purchase a product or service, Google AdWords would be your best bet due to the high level of intent from your audience. However, if you’re trying to bring more awareness or consideration to your offering, then Facebook ads can help you target those with a current or unknown need for your product or service. This is how both channels can complement and fuel the growth of your organization.
Product/Service Maturity & Overall Search Volume
This point is obvious and somewhat overlooked. If your organization has a new product or service and there is very little or no search volume, then Google AdWords (paid search) most likely will not generate a ton of traffic and therefore is unlikely to perform. Before you rule out AdWords completely in this scenario, you may consider bidding on a series of keywords which describes a problem that your product or service solves.
Demographic-sensitive Product or Service
Simply put, there may be certain instances when one advertising platform is a better fit than the other.
Not nearly as important as some other factors, but worth noting and loosely related to the point above. If you are a new company, you are most likely going to be less successful in search compared to a mature, established company in your industry. Why? In this scenario, your competitors have much more brand recognition and brand loyalists.
Aurher Joe Castro