When you start your business, you are more than likely to be over-enthusiastic and do all that you can to bring in new customers and make your brand known to everybody. You try out all the popular advertising platforms especially the social networking giant, the Facebook. You start setting up ads, try to boost your posts and still unlike what you believed – you DON’T get the ROI you expected from Facebook ads. So does this mean Facebook advertising is really dead?
The answer is an absolute no.
It only means that something is going wrong in the way your Facebook advertising is done. This is not what we are saying, but this is something that AppSumo found out after spending $5 million in ads.
Let’s see why things go wrong with Facebook advertising and how you can use Facebook ads efficiently.
Facebook Advertisements Myths
Things are not the same as they were when Facebook was first launched in 2007. Do not try the same decade-old techniques and expect to make twice of what you invest in each of your leads.
Let’s first break some myths that make you believe that Facebook ads are done.
Facebook ads are too expensive
No, they are not. Comparatively speaking, Facebook ads cost similar to what other social media ad platforms charge you. You have to subscribe to a plan that best suits your budget.
Facebook ad manager is difficult to use
Facebook ad manager has a huge load of features and fine-tuning capabilities. This may look intimidating at first, but once you get the hang of it, it becomes a handy tool with lots of options to choose from.
Facebook ad conversions are very low
This could actually be a mistake on the advertiser’s part. When ads are run with little understanding of the target audience, wrong landing pages, mistakes in content – ad conversions ought to be low.
So, if done properly, Facebook ads can be profitable and are still a great way to gain new leads. Find out if Facebook ads are right for you and take the right approach to Facebook advertising. Read on to find how.
Find Out If Facebook Ads Are Right For You
Let’s look at the things that determine if Facebook is truly worth your marketing efforts.
Get your target audiences right
Each social media platform has its majority user demographics. In the case of Facebook, it mostly consists of older generation whereas platforms like Instagram are more skewed towards a younger generation. So, industries like Kitchen appliances, infomercial products, electronics, B2B businesses, events, and medical products have seen better growth with the help of Facebook. Whereas cosmetics, apparel, and influencer products have gained more on Instagram.
Get paid advertisements right
Businesses have different developmental stages and the corresponding marketing strategy and budget differ for each stage.
If you are a startup or a new brand, you have to make use of paid ads to boost your visibility and you cannot expect a good ROI on your ad expenses. It takes time to build a solid brand reputation.
For brands that are looking to maximize their existing reach, the paid ads should be effectively used to balance new lead generation as well as for retargeting.
The final stage is when your company already has an established brand name. In these cases, measuring ROI on each ad can be difficult and hence a lot of companies make use of higher-level metrics to measure the effectiveness of their ads.
In general, the following guideline can be used to manage paid ads, as revealed by AppSumo.
- Brands that need ads to grow should spend at least $50/day at paid ads.
- Further budgeting should be done based on current traffic to remarket or retarget.
- Collect feedbacks with post-purchase surveys
- For products under $200, 3% of the price can be used as ad expense. If your profit margin goes higher, the conversion rate will be lower.
- In case your budget cannot allow for a $50/ day spend, you can try running $5/day campaigns for blog posts targeting audiences who check out your content and retarget people who have shown interest in your product
- You need to have more than 500 to 1000 audiences to make use of the look-alikes’ strategy.
Get your fundamentals right
Once you are clear that Facebook suits your needs and budget, start setting up the things needed to run ads successfully.
Understand how conversions work. If your conversion rate is at 3%, it means out of 100 people visiting your site, 97 are not buying. So, before channeling all your money into ads, build a bottom-up content funnel that focuses on the customer journey and helps nurture leads into sales. Use the funnel approach where at each stage your visitor is attracted to making a commitment or engagement.
Make the best use of remarketing. They can be done using retargeting ads, email marketing, and social engagement remarketing.
And finally, establish metrics to measure the success of all your marketing efforts.
Craft your Facebook advertising strategy
As already mentioned, any good marketing strategy should always include the target audience into consideration. Create avatars or audience profiles for your targeted audience on Facebook.
This helps you identify the needs of your audience and tailor your ads in the right way. This helps you show your audience that you can solve their actual problems.
Write up creative briefs to better assess your content imagery and video. Work with your creative team to get the best looking and engaging content. Make sure the message you intend to deliver is delivered by the content you post.
So once you have finalized on the content and the ad strategy, start placing ads on Facebook. Your ads can be of any type – Image, Video, Collection, Carousel, and Canvas. Choose the type that best suits your content’s creative design.
Setup the targeting filters based on website interactions, social engagements, followers and look-alikes.
Plan out your strategies every time you run an ad campaign. Explore more options and make the best use of features like ad bidding provided by Facebook ad manager.
Pick your time frames for the campaign by factoring in the expense, frequency, and ROAs.
And finally, keep testing and optimizing your ads for better returns. Run your ads for a minimum of 1-2 week tests, collect data and see if it can be optimized.
The Next Steps
If nothing works in the long run, reevaluate your business model, website structure and product usability to see what is going wrong. Remember Facebook ads do work and are quite alive and kicking. With proper measures in place, you should be able to use them to bring your business a good reach and profits.