The social media giant Facebook boasts of over a billion users. The growing influence over online shoppers can’t be ignored, many businesses use the platform to engage with current customers while reaching new customers.
Over 62% of consumers check Facebook to research brands before making a buying decision.
The algorithm change, giving more preference to posts from family and friends essentially forces business owners to advertise more aggressively in order to be seen in the news feed.
As expected, the cost of Facebook Ads has been rising every quarter and is expected to continue rising.
So where does that leave you and your wallet?
Well… for one you have to test to see what works for you but if you do not understand or forget the basics…
You might as well give Facebook your shirt.
But stick with me…
# 1 Who Are You Talking and Why Should They Care?
According to a study done by Zendesk done while ago, it found that many people were influenced by online reviews but…
The interesting part was that this study revealed that 72 percent of the respondents blamed having to explain a problem to multiple people as the reason for rating a customer experience poorly.
You might be asking….and?
A well performing Facebook Ad has compelling copy that clearly:
- Targets your ideal customer or prospect
- Identifies with their struggle or pain
- What is their desired outcome
- Benefit of your product or service
Remember, as bad as this sounds…
Your customer or prospect is only interested in what is in it for them.
They want to feel heard and understand. Moreover, everything is written from that perspective.
If done well, you can get the cost down but…
If there is a message to market miss-match, then people will not be interacting with your Ad positively…
…or might choose to hide it from their newsfeed, which will DRIVE your Ad costs up.
Read to the end and you will find out that higher costs are not always a bad thing.
#2 What Is The Objective?
There are many objectives to choose from and each has a very specific goal in mind.
What are you hoping to achieve?
Firstly, for you to be able to advertise on Facebook, you need to have a business page or Fanpage.
So the first campaign will be a page likes campaign. YouTube has many videos on how to set this up.
Some persons suggest an awareness campaign, which is simply meant to introduce your brand to persons….increase familiarity.
Personally, I find an engagement Ad is better to expose persons to your content.
You increase awareness.
Test target audience
And see what type of content most resonates with your target audience.
Also be aware that you may find that you naturally attract a different audience from what you initially targeted.
What do you then? Look for the answer this question in a soon to arrive post.
There are traffic Ads for increasing visits to your website.
My personal favourite is the FB Lead Ads.
It is bit more trickier to get approved and you must have disclaimers and privacy policies in place… but it is one of the fastest way to build your email list and hence leads.
I am sure you want more people to talk to about your business and products … right?
I hope you see now how knowing your objective can determine which type of Ad is best for you and when it is appropriate to use them.
Otherwise Ads can really burn a hole through your pocket with little to show for it.
# 3 What Facebook Calls Your Ad’s Creative
After several failed and disapproved Ads, the I learnt what is the creative essentially your Ad:
- The Headline
- The copy or text in the description
- The image
Here let’s focus on the image a bit. Facebook has very strict rules about text on image. It must be limited to 20% of the image.
One reason given is the computer cannot read text on images clearly. I do not know how true is this but too much text and your post will not be shown to many people.
More importantly, your Ad will not be approved.
The old cliché that a picture says a 1000 words must be taken to heart. Like literally.
So use appropriate clear bright images that tell a story on their own. Avoid stock images and use more real life images. Lifestyle images do pretty well on Facebook.
People are trying to escape the boredom of their own lives and simply scrolling through looking for entertainment.
So you have to interrupt them to get their attention.
The stats show that people interact more with video than images but so far image Ads can still perform well in my opinion.
But video Ads are great for increasing awareness and building up your custom audience so you can target again with another Ad. This is called retargeting.
Video Ads on a whole are way cheaper than image Ads. In fact you can get views for a low as a penny. I have had video views for as low $0.001.
# 4 What Metrics Need Your Attention
There are several metrics that Facebook tracks but just for simplicity let’s focus on just 3 that tell the most about how your Ads is performing.
CPC: Cost per click tells you the cost of every click.
Some people suggest that $0.50 to $0.75 is a good range to shoot for.
But remember that higher quality leads may cost you as much as $5- $7 in some cases.
CLT: Click through rate counts the number of persons taking action and actually clicking on your Ad and completing an action. A good CLT is about 2.5%.
If you are running an Ad to a capture page, (a web page where your potential prospect can enter their contact information), the opt-in rate should be 30 to 50%
But it is best to run the Ad to a blog post or other type of content instead of directly to a capture page.
Another important metric is the Relevance score. Your Ad is rated 1- 10 in ascending order of relevance based on how persons respond to your Ad.
Here is where targeting, copy and image/video becomes super important. If persons are hiding your Ad from their newsfeed or complaining about it, the relevancy score will decrease significantly.
Meaning that it will be shown to less people and the cost per click will go up as well.
At the end of the day you will have to keep testing to see what works for you.
You also must keep tracking so that you can determine your rate of return from advertising.
I am sure knowing the cost to acquire each lead and each customer will be helpful to future marketing strategy planning.
If you are network marketer or affiliate marketer and now starting out …it can be quite frustrating and like you are spinning in mud.
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