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Paying to Advertise on Facebook?

Yes. You should, actually. The idea of paying for advertising on Facebook might seem contradictory, but if you have an online business and you really want to bring attention to it fast, then you should strongly consider it for a number of reasons.

1. Facebook Fans are Valuable

In a previous article we found out that the online value of a Facebook Fan is US$137.84.

According to the study,  on average, fans spend an extra $71.84 they would not otherwise spend on products they describe themselves as fans of, compared to those who are not fans. Likewise, fans are 28 percent more likely than non-fans to continue using a specific brand. Lastly, fans are 41 percent more likely than non-fans to recommend a product they are a fan of to their friends.

2. Some things need a little extra push…

Contests, freebies and discounts might still work. However, with companies having them left and right, it might take longer and more work for you to get people’s attention. You should still have special contests, giveaways and discounts, but to get the ball rolling on these promotions, you’ll need to advertise them.

3. Google Adwords vs. Facebook Ads

Adwords are effective but getting a top listing these days can be quite costly. Certain keywords relating to your business could now cost you up to $15 per click! Compare that with Facebook, where clicks will only cost you somewhere in the $.50. This might change in the near future but for now, Facebook offers value-for-money clicks.

These numbers should be enough to get online entrepreneurs to stand up and take notice. It’s also important to take note that because Facebook is the fastest growing community, it is also the most-populated, and as the number goes up, so does the need to stand out. So you should take every opportunity to get a leg up and get people to notice you.

However, you should never forget to make your Facebook Fan Page engaging. Make sure that your website is more than just a place where you post links to your website’s latest products. Don’t let it simply become a place where people participate in contests as well. Make it interesting and useful. Make it a resource, where people can gather information. Allow fans to post comments or ask questions. Ask for their opinion. Start conversations and gather insights.

Drawing them in is one thing, it’s getting them to keep coming back and recommend you to others that will become the true measure of your website’s success.

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