Facebook itself may have a reputation for being obsolete and dead. But in reality, Facebook ad campaigns are still a very good source of lead generation and income. Almost all businesses new or established, big and small have a Facebook Business Page. As a result, sales through Facebook Ads and Facebook ads revenue itself has doubled.
This proves Facebook and Facebook business page is still a key player in digital marketing and that it isn’t the platform that is unreliable but in fact most people just post their advertisement on the newsfeed or the wrong target audience.
In this article, we will help you understand the best ways to advertise on Facebook and how to set up a campaign on Facebook.
To start with the basics, let us answer some common questions our clients ask:
Is it a good idea to advertise on Facebook?
According to EMarketer study, 96% of digital marketing experts consider Facebook advertisement the best-paid option out of all social media platforms. The most important reason to remember is the size of Facebook and its advantage for small businesses. It gives access to billions of users and a competitive start to small businesses.
Take a look at the advantages of Facebook advertisement:
What are the different Types of Facebook ads?
There are 5 types of Facebook ads:
What are the ways to manage your Facebook ads?
There are two ways to handle your Facebook advertisement:
A. The beginner version – Ads Manager
Ads manager is a simple effective tool that comes as you set up your business page. An ad manager makes it easy for you to manage and control your Facebook page it helps with:
B. The Pro version – Power Editor
Power editor is a more advanced version. This tool gives you a few more customisable options. Also, important to note is that Instagram ads can only run through a Power Editor tool. Consult with our digital marketing team to know more on how MarketinGROW utilizes Power Editor.
How to make effective Facebook ad campaigns?
Now that you are aware of what a Facebook ad campaign is and what it does let’s understand the basic requirements to make your Facebook campaigns a success! And by success, we mean More Reach, More Views & More profits!
It’s important to understand why Facebook advertisement fail. The main reason is that most people are just on Facebook to pass time or catch up on friends and family not to shop. So how do you get people aren’t even interested in shopping to visiting your business page? Well for that we create a hierarchy or a sales funnel, what this does is while some of the ad campaigns create awareness and interests and get the customer’s attention others just nurture. Something similar to email marketing.
Step 1: Create a Budget
Your budget can decide your reach and conversation rates. Decide a budget that is pocket-friendly but also accommodates a few campaigns to run side by side. This is because as you read above your sales funnels will have a few simultaneous campaigns running aiming at leads, awareness and nurture. Facebook will ask you to set a daily budget aside for the promotion and calculating this will remain crucial.
Use the below-given formula to decide your budget.
Product value example 100 x Sales needed: 10 = $1000 at 1% Conversions rate.
At this rate, you will need 1000 clicks to make $1000.
Alternatively, you can opt for manual or automatic bidding here Facebook will decide how much you should spend for a good campaign.
Step 2: Creating Campaigns
a. Awareness campaigns:
Keep simple content that grabs people’s attention. Something that blends into their feed and doesn’t feel like a sponsored ad. In other words, doesn’t annoy the customer. What this does is it makes viewers receptive of your information.
Facebook places a pixel (java code) on each users’ device so this helps with retargeting ads, ever searched for something and noticed all your ad feed fill up with similar items? That is the retargeting audience with relatable ads they may be interested in. Find your audience based on interest and demographic details.
b. Consideration campaigns:
Now that you have your viewers’ attention target them with offers that help convert them from just viewers to leads. For example, shoe business from Brampton- if your users looking for new shoes on the website target them with updated campaigns of “sign up for free e-book on how to dress right with the right shoes”. The plan is to give them something for the least amount of money as possible in exchange for their information. Other examples for these kinds of lead magnets are webinars, giveaways, checklist and eBooks.
c. Conversions campaigns:
This is the final step the step where you take the stage and showcase your product. You have created the awareness and have your viewers’ attention which has led to your page generating leads, now you just send them the campaigns with your offers that seem irresistible leading them to give you a payment for your service or product!
Keep in mind to price your product a bit lower than your actual high-end price this helps a customer feel comfortable to spend on your product. Selling something for a lower value initially will build trust. This is called “tripwire” you may have seen ads on low-cost EMI or subscription rates this is exactly the that.
Step 3: Monitor and Analyse Campaign Progress
Like any other advertisement campaign, you must monitor the response each of your ad-set is receiving. Ideally, you should come-up with multiple ad campaigns and diversify your budget to analyse which ad is faring well. Ads with less text and more thought-provoking visuals typically tend to garner better response over the ones with lengthy text and standard stock image. Create A/B testing model to analyse different messages and then based on the response, you can pull your budget towards the ad set that is gaining the most traction. This needs to be an on-going process.
Although this can be a tedious and confusing process the right team and approach to Facebook marketing can still be very complicated and competitive for beginners and small businesses.
Let us help you book a consultation to know how Facebook advertisement can help your business grow.