The most important step as a businessman is to help your newly budding business gain public attention and the best way to do so is through marketing. Though marketing will require for you to expand your budget but it is necessary evil especially if you are launching a new business. Marketing helps you bring more eyes to your product and as a result increasing product awareness. A company can put ads on TV, distribute fliers or use social media. Social media marketing is a must in today’s age as it allows you to expand your business beyond your local area. Millions of people spend a huge portion of their time on social media sites daily and every businessman or entrepreneur should take advantage of this fact. This specific article will give you a brief rundown of both Facebook and TikTok ads to help you decide which one is better suited for you.
Facebook ads
If you are planning on advertising your business using Facebook ads, this is what you need to know:
- Reach: When it comes to reach to reach, Facebook beats almost all other social media platforms currently available. With almost 2.9 billion monthly users, Facebook ads can be a great option for advertising as it allows you to expose your product to a large number of people.
- Targeting options: Another important factor in your advertising campaign is going to be the targeting options a platform can offer you. Facebook ads has you covered with a multitude of targeting options at your fingertips. You can target your audience on basis of age, gender, location, interests, site visits and many more. You can also check conversions through Facebook Pixel.
- Picking your purpose: Facebook ads gives you plenty of options regarding the purpose of your ads. You can select options like store traffic, reach, brand awareness, conversions etc. based on your purpose.
- Cost: This will vary depending upon your needs and budget restrictions. Facebook ads tend to be cheap starting with 0.50-2.00 dollars per click. Most companies tend to spend 200-800 dollars per month on Facebook ads.
TikTok ads
Here is the basic stuff you need to know if you are planning on advertising using Pinterest ads:
- Reach: Despite being the newer app on the market, TikTok has amassed a large number of followers in a very short time. Recent analysis has shown that TikTok boasts more than 1 billion active monthly users. More than half of these users (being youngsters) are on the lower side of the age spectrum which guarantees high purchasing power. Thus, TikTok has great reach with the potential to grow even more in the future.
- Targeting options: TikTok ads allow you to target your required demographic in multiple ways. You can target your audience on basis of age, gender, location, interests, behaviors and even devices.
- Picking your purpose: TikTok ads gives you seven options regarding the purpose of your ads. These options include traffic, reach, app installs, conversions, catalog sales, video views and lead generation.
- Cost: TikTok uses a cost per mile (CPM) metric to charge for ads. This roughly translates into the advertiser paying 10 dollars for every 1,000 views. If you want to want to start an advertising campaign, that will cost a minimum budget of 500 dollars. If you are going to start a branded hashtag challenge and want it to be featured on Tiktok’s Discovery banner, then you may have to pay up to 150,000 dollars. Overall, ads cost from 50,000 to 120,000 dollars.
What TikTok ads bring to the table?
First things first, TikTok is pretty new to the game. TikTok isn’t that old to begin with and it only started dipping its toes in the advertisement game in 2019. Being a new platform means less competition from competitors. Although Facebook has a bigger reach, it has also been around for a long time and is home to ads of multiple companies and their advertising campaigns. On TikTok, you are bound to face less competition. Secondly, ads can rather be dull. There is a reason most people just roll their eyes whenever they see an ad and skip it without giving it a proper look. TikTok solves this problem by giving the companies to create short, creative and entertaining ads. The entire platform is based on this formula and by keeping ads to a duration of 15 seconds and presenting them in a manner of normal videos guarantees more views. Also TikTok is based on sharing your videos to many people as people which is also a plus point when running your ads.
Conclusion
As of now, TikTok ads haven’t reached the same status as Facebook ads. Facebook knows its target audience well and does a great job with pulling in customers for advertising brands or services. They are also cheaper than Tiktok ads. But TikTok is slowly but surely catching up and is going to be their biggest competitor in the future. TikTok’s reach is growing by the day and last year TikTok generated 235% more impressions than Facebook ads. So it might be a matter of time before they catch up.