Welcome to a new episode of Straight Facqts featuring Facebook & Instagram Ads Expert, Ben Heath, Today, we’re discussing the current state of social media advertising and diving into Meta Vs. TikTok Ads. From Facebook reps to TikTok’s ad creative, we share our opinions and insights on the challenges and opportunities in the industry. So get ready for a wild ride through the world of social media advertising!
Facebook Reps Vs. TikTok Reps
Ben says the transition to TikTok requires learning a new flow. But once you figure that out, the audience and creative are very similar to Facebook. Furthermore, the barrier to entry for ad creative is higher on TikTok compared to Facebook and Instagram, where you can get away with more.
There’s also a big difference in support from TikTok and Facebook reps. According to Ben, TikTok reps are good at guiding you on how to create content, whereas Facebook reps are more focused on resolving technical issues. And once advertisers have passed a certain threshold, they gain access to better Facebook reps as well.
(He also mentions that Facebook reps are great if you’re lonely and they won’t hang up until you increase your ad spend by 50%.)
So, advertisers should carefully consider whether the advice given by Facebook reps is good for their business or just good for Facebook.
The importance of creative
Some companies tend to stick to a previous winning creative strategy, but this can lead to ads becoming fatiguing.
Be bold with your ad creative and test new options. Focus on the 40% improvements, rather than the small 1.5% improvements.
Also, remember the impact of offers on results and take time to think about how to improve your offers — which can be an absolute game changer.
For example, a client of Ben’s was selling a product worth £3,000 and the company found a way to offer it on finance and quoted it per week. So instead of £3,000, they advertised it as £6 per week, which was an incredible offer.
This lowered the barrier to entry for prospects. And campaigns were already doing well even though the ad creatives weren’t the best. This offer has been replicated since but it was not typically done in the industry before.
The same approach can be applied in other industries such as offering faster delivery times. Other examples include offering time savings, making the product more convenient, making it cheaper, or having better quality or warranty. You definitely need to work out what your prospects care about and go after that, even in boring industries.
For more exciting industries, offers like vacation packages or raffle-type setups can be created. However, rules and regulations around them need to be considered.
Strategy in digital advertising
Just running ads on platforms like Facebook or TikTok doesn’t guarantee success. You need to compete with people who do this professionally and have years of experience.
It’s essential to be one of the best in the industry to generate sales.
For example, if you play tennis, people wouldn’t expect you to win your first tournament on Day 1. Similarly, you can’t expect to achieve success in digital advertising without putting in effort to become one of the best.
Therefore, find specific niches where there is less competition. Start small and gradually work your way up. Pick one platform and get good enough to win in that game, rather than jump from one to another without mastering any.
There’s always a trend of businesses jumping from platform to platform without a clear understanding of why they’re doing so. People are jumping to TikTok, for instance, because it’s a shiny new toy and they see other businesses doing it too.
The cost of advertising
All platforms have their prices set on a competition basis done through auction. Advertising on the most popular platform can push up the price, making it more expensive.
CPM on TikTok is higher than it is on Facebook. However, there is a discrepancy between Facebook and Instagram. In fact, CPMs on Facebook have gone down about 50% from the previous year.
LinkedIn’s high cost is partially due to its popularity with people with more money and big companies using it for recruitment. TikTok is also overpriced and may not be the best platform for B2B advertising as the target audience is likely to be young.
Advertising to older demographics is more advantageous since they have more money to spend. Additionally, advertisers should find ad platforms that aren’t currently popular, as the cost of advertising is lower.
The negative press on Facebook has pushed advertisers into a more positive place where we can currently run with lower costs.
Facebook also has a better machine learning process for advertisers to quickly find their target audience. Meta targeting is second to none while the future of TikTok may be 5-6 years down the line. Where the eyes are is what affects advertisers.
✏️ TikTok reps guide you on how to make content. Facebook reps focus on resolving technical issues.
✏️ Be bold with your ad creative. It’s more effective to use resources on options that could result in a significant improvement, rather than settling for marginal gains.
✏️ Strive to be one of the best in the industry. Pick one platform and get good enough to win at it. Don’t just jump from one platform to another.
✏️ CPM on TikTok is higher than it is on Facebook. Facebook also has better machine learning for advertisers.
We had a lovely discussion with Ben about Meta Vs. TikTok Ads and the world of advertising. Take note of the pros and cons of different platforms. Be aware of market forces and the user base when it comes to advertising. While TikTok may be the future, Facebook currently offers a better machine learning process with the ability to quickly find the right audience. In the end, the key to successful advertising is being where the eyes are.
Thanks for listening to our podcast on Meta Vs. TikTok Ads with Ben Heath!
Watch the video here: