Much like every other marketing channel, the answer to that question depends upon your goals.
POSITIVE+
1. To most Americans under the age of 35, Facebook is one of their top 3 communication platforms
2. 74% of Facebook users are on the site multiple times per day
3. Facebook ads can be geographically targeted. You are not committed to buying national ads if you're a local business
5. You can manage your budget by placing a cap on the amount you want to spend per day, or pay only for each click
6. The Facebook Responder Demographics Report will give you info on who is reviewing or taking action on your ad so you can measure its targeting effectiveness
7. Almost 54% of Facebook users do not have a negative opinion of Facebook ads
8. Facebook ads can be a strong lead generation source, provided you are driving users to your own Facebook page since the majority of Facebook users prefer ads that keep them inside Facebook
NEGATIVE-
1. Not an effective a way to reach Gen Xers or Baby Boomers...yet
2. Though click through rates (CTR) are typically not high anywhere, Facebook ad click through rates have been reported as low as 0.01 – 0.05% (However, strategic content and user rewards can have a positive measurable impact on click through rates)
3. Using impressions as a form of measurement is subjective at best. Just because your ad is on the page a member happens to be visiting, doesn't mean the ad is actually being noticed
4. If your business is a dating site or an educational program, FB ad statistics don't look good for you
5. FB ads are typically not a good source if you're trying to build traffic to a non-Facebook site
So are Facebook ads right for your business? Only you can decide, but go into it with your eyes open. Personally, I have had some measurable success using Facebook ads, but my goals were simple: Brand awareness and lead generation. And the level of success fluctuated based upon the location and length of the campaign.
I suggest gathering supportive data, and analyzing a few case studies before making an investment. But as a general rule of thumb, I wouldn't recommend making Facebook your only advertising channel.
