Facebook Advertising - If You Aren’t, You Should Be!
A couple billion people use Facebook daily.
Considering there’s only a few billion in the world, that number could be a tad terrifying – or, exciting. What a treasure trove! And the best news? You don’t need a huge budget to advertise on Facebook. You do, however, like with every investment, what to ensure your business bucks are filtering into the most effective strategies. So with this in mind, how exactly do Facebook Ads work and how are they useful?
6 tips to help you get started
Let’s start with their DNA and some best practice tips when engineering them:
1. Creative (an image/video perhaps with some text on it)
Make sure to illustrate how you can solve their problem, with as little effort from them as possible. Four words is the optimum headline length. According to Sprout Social, almost half of the value of Facebook video ads happen in the first 3 seconds. So, capture attention and do it quickly.
2. Target audience (who are your consumers and how can you spark their interest?)
You can customize this based on a huge range of demographics from age to gender, to the websites they ‘like’, app engagement, groups they’re members of, and much more. Change these up and measure the impact, this will allow you to tune your marketing to the whims of your audience and stay on top. Debug your own assumptions along the way, self-awareness is key in growth.
3. Placement (where do you want people to see it?)
Placements can be done automatically by Facebook, but you can also customise them. Today’s consumers are quick to judge inappropriate (albeit accidental) ad placement so paying attention to this might be worthwhile in the long run to ensure your ethics are upheld and perceptions managed.
4. Bid (the amount you can pay for your audience to see the ad)
Pay attention to Facebook’s bid options. If you can master the manual rather than automatic (default) bidding, you may reduce your conversion costs over time. You can also set a bid cap to ensure you don’t go over the budget.
5. Budget (the overall spend you have for your campaign)
Start small and experiment. Facebook will provide some nifty graphs as your ads run so put some time into checking these and play around with customizable options. If you can find what works best, you’ll be able to invest in the most lucrative marketing strategy.
6. Schedule (how long you want the ad up for – dictated by bid and budget)
Typically, the best time to post on Facebook is midday Wednesday/Thursday. You can use the “dayparting” option when scheduling ads to ensure you are spending your marketing dollars only when your audience is online. The bullseye will be if your audience happens to convert at a higher rate outside of Facebook’s peak activity times, as you will be able to target ads off-peak (for Facebook, peak conversion time for you) and save money – win-win. Keep a track of the insights provided by Facebook to gauge when the magic times for your audience are.
How Are Facebook Ads Useful for Businesses?
Providing you have nailed the above; defined your consumer demographics, come up with a punchy way to grab their attention and make realistic promises about your business, targeted your ad spend on the best times of day to catch these hearts and minds, you will have measurable results that can be experimented with, scaled and adjusted over time.
This invaluable data will enable you to fine-tune your marketing approach and grow exponentially, riding the ebbs and flows of your audience’s changing behaviors. Optimising your social strategy gives you the insider info on your customers, so if used effectively, they will start to share your content for you. One of the best things about Facebook in a marketing sense is that we see what our friends like, comment on and share more than on other platforms, so activity from just one consumer can have a huge impact.
In a Nutshell
Facebook is a social beast. A catalyst for you to intimately get to know your customers, using Facebook Ads effectively can be hugely beneficial for your business not just from a sales generation perspective, but for long term brand affinity, growth and sustainability. Use the measuring tools, track and predict so that you can ensure every dollar you put in gives you a few in return.