- Facebook Ads: Facebook now allows Nigerians to Pay in Naira
- Pay your Facebook Ads in Naira with Stanbic IBTC, UBA MasterCards Card with ease
“More than 1.4 billion people use Facebook to connect with what matters to them, and more than 900 million visit every day. When you run a Facebook Advert, you choose the audiences that see it by location, age, interests and more.”—Facebook Business
Because of the large reach of Facebook particularly in Africa, quest for facebook ads has increased.
But despite this a lot of Nigerians resort to a third party service to make payment for Facebook Ads.
A lot of them find it difficult to set up Facebook Ads using Nigerian naira because credit cards used to be the only medium of facebook payment.
The good news:
You can pay for facebook Ads now through Nigerian naira.
Some people are still finding it difficult to configure Facebook Ads, but that’s simple if you follow the Simple Steps on How to Pay for Facebook Ads in Naira and abide by the facebook rules.
You don’t need a third party firm to pay for facebook ads on your behalf, never again.
It is simple.
You can configure, place, create, and conveniently pay for Facebook Ads right from the comfort of your room.
You don’t have to incur any extra charges again. Pay directly by yourself.
You can possibly reach 16 million Nigerians monthly on facebook, “Nigeria is still Facebook’s biggest market on the continent,” QUARTZ Africa
As at October 3 (at about 1400HRS), Facebook Ad rates for content or page promotion on the social medial platform were calculated at U.S dollars.
Today, that has changed: with N310 your content could reach between 17 to 45 people.
Four options available for Facebook Advertisers:
- Promote Website (get more people to visit your website)
- Promote Page (Connect more people with your page)
- Boost Post (Get more people to see and engage with your page posts)
- Promote Call Now Button (Encourage more people to take an action).
With all of these options, the most used social media has added Nigerian naira to its list of currency.
Now, naira joins Argentine Peso, Australia Dollar, Bolivian Boliviano, Brazilian Real, British Pound Sterling, Canadian dollar, Chilean Peso, Chinese Yuan, Colombian Peso, Costa Rican Colon, Czech Republic Koruna, Danish Krone, Euro, Guatemalan Quetzal, Honduran Lempira, Hong Kong Dollar, Hungarian Forint, Icelandic Krona, Indian Rupee, Indonesian Rupiah, and 29 other local currencies from across the world.
And at the moment, you can use Stanbic IBTC MasterCard to pay for your Facebook Ads with no stress. While other debit cards from Nigerian banks are having issues paying for Facebook Ads, UBA and Stanbic IBTC MasterCards are still the best. But I prefer Stanbic.
This is how you can use it if you want to advertise your products on Facebook, or you want to reach more audiences on the social platform.
8 Easy Steps on How to Pay for Facebook Ads in Naira with Stanbic IBTC MasterCard
Step 1: Visit any Stanbic IBTC Bank close to you to open an account, or make use of the bank’s online banking platform. Apply for Stanbic IBTC MasterCard
Step 2: Fund your account to accommodate the required Facebook ads charges you’re applying for.
Step 3: Make sure to activate your MasterCard before you link it with Facebook.
Step 4: Head straight to facebook to place your Ads: there are different ways to do that.
If you’re promoting a page, note that the short description of your page serves as the preview. So, if you want it changed, you can edit it.
Step 5: Click on Audience to choose the people you want to reach: men, women, all; and the age bracket of your target audience, choose locations, interests and click on save.
Step 6: Next is Budget and Duration. Already, (NGR) Nigerian Naira is set by Facebook as default currency for Nigerian advertisers. So, you don’t need to select currency again unless you want to switch to another convenient currency.
Step 7: Set your daily budget, duration. For instance, daily budget of N1, 525.00k, 7days duration will get Established Daily Likes of 10-38 Likes. That means you need N10,675 to promote your page for 7days, meaning you need to have at least a minimum balance of N11,500.
The change in the currency does not affect the rates as charges are still calculated at the official conversion rate — $1 = ₦310.250.
However, prices still reduce as the number of ads increase.
Step 8: Lastly, click on Add payment Method under Account and Payment. Use the info on your Stanbic IBTC MasterCard.
For those who are planning to switch currency on their Facebook Ads, a nairalander CarmelloANGEL has this to say:
“Basically, switching currencies means your ads will be reset and you’ll start afresh, so don’t be surprised when that happens.
“You can not switch until you balance your initial payment, which means if you owe in dollars, you have to clear ur bill first before switching to Naira…and vice versa. So u can’t go back to paying in dollars until u clear out your outstanding Naira payment,” CarmelloANGEL say.
At the moment, Stanbic IBTC exchange rate is one of the lowest.
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