Facebook advertising can be a cost effective way for a small business to get their name, and products or services, in front of the Facebook users most likely to click through to their website.
Facebook has more than a billion users worldwide. That number is almost guaranteed to include your clients – and other people who might be interested in what your business has to offer, if only they knew about you.
Just as internet marketing has displaced traditional marketing, so has social marketing been slowly taking its place among the primary internet advertising channels.
What is Facebook Advertising?
A Facebook ad is simply a paid message from your organization that shows directly on Facebook pages (not your own).
Two factors make these ads an attractive investment for your marketing dollars:
- the huge user base, and
- the ability to target your ad with accuracy to the most potentially lucrative prospects.
Effective Facebook Advertising Elements
As with any advertising, the keys to effectiveness are:
- to set a good, specific, goal
- to know exactly who you are targeting
- to find the most appropriate channel for reaching your audience
- to include a persuasive call to action
A Facebook ad can show up either in the central section of a Facebook page (the news feed), or in the right-hand sidebar of a page.
News feed ads are very effective, with higher click-through and conversion rates than sidebar ads. Mobile ads (shown on the Facebook App) are even more effective.
News feed ads can be formatted to look like posts and are part of a marketing trend known as “native advertising,” which enables your advertising message to integrate more smoothly into the editorial look, feel, and flow of social networks, blogs, and other websites.
Creating A Facebook Ad Campaign
Setting Goals and Objectives
The first step in creating your campaign is to discuss, and set, goals and objectives. I will help you answer, “What do you hope to achieve with your ads?”
- More Visits to your Website
- More Likes on your Facebook page
- Engagement with specific posts
- Event RSVPs
- App downloads and installations
Next, I’ll determine the audience for your ad. Facebook allows the advertiser to create very specific target audiences based on their users’ profiles and activities.
- Demographics – age, gender, income, relationship status, etc.
- Geographics – country and city (zip code), including multiple locations
- Psychographics (interests) – based on users’ Facebook profiles, what pages TV Shows, music and movies they “Like”, etc.
- Purchasing Behavior – how many of your target audience mention new items that they have bought.
- Residential Profiles – people who are likely to move, or have recently gotten a new mortgage, or have moved.
Two examples of this are “connection targeting”, which allows you to target your ad to people who have liked your business page, and “advanced connection targeting”, which allows you to target viewers similar to those who have liked your page.
You can target customers based on their relationship status (good for a jewelry store, or lingerie boutique).
Choose Ad Channel
Then we analyze which type of ad (channel) will most effectively reach your ideal customer, and where they will be displayed. We can choose from, or mix, these channels:
- a sidebar ad
- a news feed ad
- a boosted or promoted post
- an event promotion
Once we’ve established the goals, audience, and channel, we will work together to set a daily or lifetime budget (lifetime of the ad).
Your costs will include fees from Facebook as well as fees from Camrud Advertising for set-up, creation and management of your campaign.
Paying for Your Facebook Ads
Facebook has two payment options that will help determine your total expenditure, based on the budget you’ve established, and your campaign goals.
- You can choose to pay either per 1,000 impressions (CPM) or
- As cost per click advertising (CPC), where you set a maximum bid for clicks, impressions or actions
Each option has a specific objective:
- Cost per mille (CPM) – This bid type is designed to get a lot of views, or impressions, for your ad. Your bid price is per thousand impressions.
- Cost per click (CPC) – This bid type is best for getting people to click your ad and is closest to the Internet marketing industry standard. Designed to get a lot of clicks, Facebook will show this ad to the users it thinks most likely to click.
- Optimized cost per mille (oCPM) – This is a hybrid between the previous bid types and is best for showing your ad to the people who are most likely to take action on your ad. If you are looking for specific conversions, such as liking your Page, RSVPing to your event, or clicking a link, this is probably the best option for you.
Facebook selects viewers for your ad based on the parameters we have set regarding your audience, your budget, and which payment option you have selected.
After working through the preceding steps, we create and launch your ad.
Depending upon goals and target audience, advertisers can create either ads containing just text, or image ads (i.e., an ad with a photo or graphic). Facebook allows us to select your audience, channels, budget, and other parameters.
Advertising on Facebook has its fair share of specific ins and outs, but it is important to look beyond the hype by Facebook, as well as some social media and digital ad agencies, regarding its uniqueness.
I encourage people to look at other forms of advertising, especially the one that Facebook modeled itself after – Google Adwords.
I’m always happy to discuss the benefits of Adwords over Facebook because you have infinitely more websites and apps to advertise with vs just the one.
Facebook advertising is, at its base, similar to any other advertising effort: Its success is utterly dependent upon the quality of your strategy and of the ads themselves.
With this in mind, you may decide that contracting with an experienced advertising professional to assist in crafting your strategy, honing your tactics, and creating your ads would be a solid investment.
How Can I Help You Succeed?
As you can see, with so many parameters and options to choose from, Facebook advertising can be confusing; if you don’t understand how it works, it can cost you a lot of money in wasted clicks, views and mis-targeted ads.
And, as with any marketing effort, Facebook advertising is most effective when utilized as just one element in your overall advertising strategy.
I highly recommend that you use it in conjunction with your Bing or Google advertising with PPC campaigns.
Call internet advertising consultant Jon Camrud at 720-520-0639 to get started.