Want an affordable way to grow awareness and customer engagement with your business? With the likelihood that over half of your customers are regular users, Facebook advertising can help you do just that.
Reaching people online has a much lower cost basis than print, radio, or TV and we’re seeing a shift of dollars going towards digital. Longstanding marketing practices are evolving and technology enables greater ad effectiveness.
What’s New With Facebook?
Facebook is the world’s largest social network with over 750 million active users worldwide. It’s a great place for businesses to connect with customers and spread the word on their products or services. It can also be a fantastic source of free traffic as businesses can create a page without charge.
While it may not have the focused intent of users on search engines, the amount of data Facebook knows about its users can be leveraged for very focused ad targeting.
There have always been risk in a company being overly reliant on the social network for your business’ Web presence, but Facebook’s algorithm update in January 2014 has changed the landscape. The update has significantly cut the amount of posts being seen by fans of business pages. Many pages have seen their organic post reach to their fans cut by more than half.
While Facebook has claimed the move was geared at improving quality, the change also has made Facebook advertising a necessity if you want more reach for your posts. Paying to promote your posts can boost its reach by tens to hundreds of times the exposure it would receive from page posting alone.
Getting Started With Your Ad
Facebook ads are typically created through a personal Facebook account that has access to the business page. While logged in as yourself, there is a ‘Create Ads’ or ‘Manage Ads’ option that takes you to the Ads Manager page.
From an advertising standpoint, one of the great things about Facebook is how much information it has on it’s users. This info can be used to focus on specific demographics and target your most likely to convert customers.
In your ad, it’s important to feature something compelling. Free offers tend to work well in terms of getting people’s attention, along with an intriguing picture formatted for Facebook’s dimension and attention grabbing headline/ad copy.
Setting Up Ads
When you go to create your ad, you currently have eight different kinds of advertising options to focus on Facebook. You can create ads with the following options:
There is also an eighth option, which is Offer Claims.
While the choices may seem overwhelming, it’s important to pick the ad types that best fit your business needs and current standing on Facebook. For example, if you have a relatively undeveloped Facebook page, you may want to center your attention on building up awareness of your page and get more likes. Whereas if you already have an established business Facebook page, you might be more interested in presenting offers or getting website clicks.
Low Cost Advertising if Used Effectively
Why advertise on Facebook? Based on data published on Moz.com, the cost to reach 1,000 people in newspaper advertising is $32 and $20 for magazine ads. Facebook ads cost only a fraction of what it costs to reach people in other advertising mediums at $0.25 per 1,000.
Facebook advertising is typically much more affordable than Google AdWords ads, but the focused intent of search engine users when searching keywords phrases can lead to a higher conversion rate.
Advertising on Facebook is also a mobile ad play as users increasingly go on the social network from their mobile devices.
A Few Tips for Running Facebook Ads
While Facebook advertising presents an opportunity for many businesses to reach customers affordably, having the right strategy and message is critical in having your marketing dollars provide a return on investment. Some companies may pay the value of over $200 per like for their Facebook advertising, but by no means, should a company have to pay that amount.
Ads need to be compelling and engaging to provoke a desired action. They should be targeted to a specific demographic with a distinctive landing page to give it to the best chance to convert the visitor into a customer.
Stay tuned as in an upcoming post, we will be going over demographic targeting in Facebook and how to utilize the available user information in your business’ favor.