By: Peter Sibilant
With over 1.3 billion active users, many of which are active daily, Facebook could be a key asset in the advertising/marketing arena for your business whether you’re online or not.
Notwithstanding that you’ll soon discover that you’re not alone in joining the social media revolution. Your competitors have either been there for an extended time already or they’re about to enter to same arena themselves. For business it’s more than simply creating a page and making a few posts, comments or sharing – your followers want to be engaged.
And how do you reach new Facebook “Likers” easily? Facebook Ads. In particular, well targeted Facebook Ads. Be they specific advertisements linking to content external to Facebook or the Boost Post feature.
As per recent reports from Facebook, after surveying commercial Facebook pages, up to 70% of companies and business Facebook pages are experiencing returns of over 300% on their Facebook advertising revenue. It’s not clear if those returns are from additional page “Likes” or converted sales but you can’t argue that an engaged audience is a happy audience. And that’s the first step.
Before we go any further it’s key that any advertising strategy outlines ROI and KPI. While no advertising strategy can be made perfect there are methods to enhance the chances of success.
So here we go.
If your strategy objectives aren’t clear then your advertising, performance tracking and conversions won’t be clear either. Take the time to make clear and concise goals in all your advertising campaign strategies.
Ask yourself the following question.
What is the overall goal/outcome of the Facebook Ad? More website visits, lower bounce rate, converted sales, Facebook/Twitter followers, product awareness or newsletter subscribers?
Each of these goal metrics has specific methods to deliver the right objectives. Choosing the correct objective will decide the strategy required to meet those objectives for any advertising medium.
Targeting your Goal Audience
Facebook Ads allow advertisers to target who will see your ads via a wide and varied targeting options. These options can include age, geographic location, education, interests, relationship status and more.
That being stated, the capability to target specific markets is still slightly lacking in regions such as Australia. Specifically with regional geographic locations as Australian ISPs use gateways within capital cities. So if your target audience haven’t populated their current location then they won’t see your ad if you’ve targeted explicit regional areas.
Maximising your ROI by creating Facebook Ads for identifiable targets will ensure you’re not squandering your budget on a market that has no interest in your product or service.
If you have various ranges of products and services, for specific demographics, then create multiple advertisements targeting those specific markets. Monitor your KPI and ROI results and modify as required.
Creating your ad is one thing. Choosing a budget to reach your intended market, and how much of that market, is another.
Specify a budget that encompasses the overall size of the audience and the market you want.
You won’t need to reach all of your market at once (which can easily number in the millions) so choose a budget that will give you a good indication of KPI and ROI and adjust your budget as required.
Facebook will allow you to distribute a budget over a specified time period which is referred to as Lifetime or a daily budget. You can specify spending a particular amount per day or, in the case of Post Boosting, a specific amount over a period of time that you choose.
Particularly in the case of Facebook Ads you can setup differing bid amounts dependant on your Goal. Are you bidding for clicks, Page Likes or impressions? You’re able to adjust your bid as required as well. If your results are doing well and you’d like to see even better results; then simply adjust your bid.
You are in control of your budget and, in the case of Facebook Pages, your budget is tied directly to your Facebook profile and not that of any particular Facebook page itself.
Encourage Interaction through Content
Content space is limited and you have mere seconds in which to engage your potential market. Use that content space sparingly and wisely. Optimise your outlining of what you’re trying to sell or promote and be clear in the intent. Click-bait is termed as such because it describes exactly what its purpose is. Alternatively, if you engage in Click-bait titling and content only you can drive away your market quicker than you can attract them.
Ensure your click-through message and content is relevant to the originating ad. While social media can work for you it can just as easily work against you. Be honest and you’ll receive honest results.
Text-only ads aren’t as effective as image/photo ads. Keep in mind though that Facebook will only allow a certain text-to-image ratio in your visual advertisements. At the time of writing this article the text ratio limit is 20%. Which means your image should not contain more than 20% text of the overall image. In fact Facebook will suspend your Ad if any image contains more than 20% text. See below for examples of what is and isn’t acceptable in the regard to text content to image content ratio.
Be clear as to what action the customer is to take upon clicking your ad. Do you want them to sign up to a newsletter or purchase a product? Then tell them in an appropriate Call-to-Action.
A clearly concise ad is key to a satisfactory ROI.
Link to Relevant Content
Link or display content that explicitly matches your original Objective strategy.
Whether you’re linking to a Facebook Page, Post, App, Group or external content, such as your website, it is imperative that the content they are being shown is relevant. This one key step cannot be repeated enough as there is no faster way to drive people away from your overall goals than to lead them on a Wild Goose Chase.
If possible ensure that result, goal or conversion analytics are set up for the landing page. Google Analytics, DoubleClick and other 3rd party analytic tracking solutions are available for exactly these purposes. Facebook will also provide statistics on campaign performance.
Tracking your KPI and ROI is difficult if you don’t know how they’re performing.
A successful Facebook ad will result in email addresses to allow you to inform visitors of events, specials or other promotions. Even if the current landing page or content doesn’t have a Call-to-Action take the time to investigate the integration of one.
Don’t miss any opportunity to build a relationship with potential or existing customers.
Monitoring Performance and KPI
Your campaign is now live! But do you know how well it’s performing?
We touched on using measuring analytics and performance earlier in this article but; do you know how to best gauge those results?
KPI and ROI are all important for the longevity of any advertising campaign but unlike traditional methods of radio, print or television online advertising can allow you to see live results and pivot/modify as required.
Conversions especially will allow you to see how effective particular ads perform. Conversions, like Goals, are the last step in a visit. So pay close attention to them.
Keep as much data as possible as they will affect how you target or budget for future advertising campaigns. Be they similar products/services or not. The analytic data that you acquire is invaluable in monitoring visitor behaviour and market targeting all for just a few dollars a day.