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FB Ads basically worthless?

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It depends on what you're advertising. I think what's effective with Facebook advertising is games and apps (mobile or PC) or products being sold at your physical store. If you're trying to market a product about making money online, that would be a bit hard.

Most FB users are casual users and those who don't really have much purchasing power - grade school students and high school students. Also, a lot of people don't really mind the ads on facebook. They probably look at them but they don't click on them. Facebook ads are not generally worthless. It's depends on how you are able to use them to your own advantage.
 
Advertising your external website using Facebook is useful. But advertising your Facebook page is not. I know someone who both advertised using the way in the video, and bought ads. The ads generated around 2 users for every $3 of ads. Half became active.
 
I know people who use Facebook ads to promote CPA and affiliate links and are successful. They are not the best form of advertising and not nearly as good as it used to be but there is still potential for profit.
 

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