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    B2B SaaS (Meta) Facebook Ads Stats & Benchmarks for 2024

    Last updated: March 21st, 2024

    Meta’s vast audience and enhanced targeting capabilities with Facebook Ads make it an indispensable channel for lead generation and business growth. This is why securing an additional budget for Facebook Ads can help you amplify your B2B SaaS company’s market presence and capture high-quality leads.

    To guide your strategy and help you make the case for more budget to marketing leadership, we’ve compiled key (Meta) Facebook ad statistics and benchmarks for 2024. Let’s get right into it.

    Meta / Facebook Statistics

    Facebook for Business

    The Future of Facebook Ads

    Like other platforms, 2024 is likely to bring big changes and rapid advancements for Facebook, or Meta, in general. Meta is improving audience targeting and injecting AI enhancements and automation into ad delivery and optimization options.

    Tighter user privacy will be a priority in 2024, while advertising costs for advertisers are expected to be more stable.

    Here are some additional Facebook Ads stats that show what the future may hold:

    Despite the trend of young people moving away from the platform, Facebook is still a giant across the web. Revenue growth slowed after the COVID-19 pandemic but the platform remains responsible for 19% of global ad revenue.

    From 2017 to 2024, Facebook ad revenue grew at an annual rate of 23.5%, and it will continue to grow past 2024.

    Using in-stream video content, you can present longer stories that will provide more information and give more opportunities to capture interest.

    These stats show that Facebook remains an engaging platform for advertising purposes, and if the CPC continues to decrease, there could be huge gains to be made in terms of ROI.

    Facebook Ads Benchmarks

    When starting out with Facebook Ads, it helps to have some benchmarks to guide your campaigns. Over time, you’ll have your own data to add to this, but to begin with, here are some benchmarks from 2023 to set your KPIs for the year ahead:

    Getting the Most Out of Facebook Ads for B2B SaaS

    The reality is that many B2B SaaS companies have tried and failed to implement a successful Facebook Ads campaign. However, as these stats have shown you, Facebook Ads have the potential to be a valuable advertising platform. In addition, we at Powered by Search have proven that Facebook Ads can and do work for almost all of our SaaS clients.

    The main reasons companies fail to create successful Facebook Ads campaigns are often due to inaccurate audience targeting or not testing the ads beforehand.

    Fine-tuning audience targeting begins with creating well-crafted ad copy that clearly defines your target audience, the pain points your product resolves, and your value proposition. Additionally, leveraging demographic data allows for precision in targeting, like deploying ads to lookalike audiences or engaging users from existing account lists.

    Wrapping Up

    Overall, Facebook is a great place to generate leads and build brand awareness – both of which will improve conversion rates.

    At Powered by Search we specialize in developing and implementing PPC campaigns for B2B SaaS companies all around the world. By hiring a B2B SaaS Facebook Ads agency, we’ll help you cut ad spend and boost growth.

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