For eons marketers have known that to sell a product, you have to go to where the buyers are. In the old days, this meant loading up the wares and heading into any nearby community, but today we have Facebook. It’s a virtual community that’s ready for your pitch. Here are seven reasons why.

1. It’s a sleeping giant

There’s nothing secret about Facebook’s impact on social media; however, its potential as an advertising medium has barely been tapped. While social typically lags behind email marketing in sales, nearly a quarter of time spent online is done so on social media. It’s an instant audience that’s ready for your pitch.

2. It’s precise

Facebook lets you define your target to degrees unheard of using traditional media (and even other forms of social media). If you wish, you can target by age, gender, specific interests, geographic location, relationship status and more. Yes, you’re paying to reach good leads. But you’re definitely getting your money’s worth.

3. It’s user and budget friendly

Everything you need to create targeted and effective ads is provided when you advertise on Facebook. In fact, with just a simple and intuitive set of tools you can manage multiple ads and campaigns – without the assistance of pricey ad agencies or freelance web designers.

4. It lets you track

By allowing advertisers to use conversion-tracking tools, Facebook lets you see what type of actions users are taking. This aids in ROI measurement and in identifying additional steps that can be taken to increase overall sales.

5. It’s flexible

You’re not limited to one type of advertisement or price structure on Facebook. In fact, you can choose from sponsored ads, sponsored results, page posts, marketplace ads and promoted posts. You can also set pricing based on cost per click (CPC) or cost per one-thousand impressions (CPM).

6. It skews toward consumers with money

Facebook does an excellent job of retaining older social media users. So when you advertise on Facebook, you’re reaching users who tend to have more spending power than younger users. This gives you more chances of connecting with someone who’s not only interested, but also has the means to make a purchase.

7. It’s persistent

Few consumers buy on the spot, especially online. Through Facebook Exchange, however, advertisers can remind customers to consider specific products more than once. It also allows you to promote your business website home page.

The rise of Facebook is well documented, but the ascent of Facebook as an advertising medium is a story that has yet to be told. Perhaps your business will be part of it.