Are You Ready to Dip Your Toe Into The Facebook Ads Pond?
An insider shares 5 ways to grow your business
Facebook has been the number one social media platform for as long as I can remember. Almost a third of the people on the planet are regularly using Facebook, that’s 2.3 billion people and around 65 million businesses are actively promoted through Facebook. Even with an average click-through-rate of 0.89%, more than 6 million advertisers continue to make Facebook the number one social media platform for advertisers.
I have placed Facebook Ads for my clients every month since the Fall of 2017. For one client, right out of the gate there was an increase in clicks and event response/attendance. Everything was status quo until 7-9 months ago when I noticed a clear decline in Ad response and results, and an increase in Ad cost [for certain target markets.] I have since made a few key changes to objective, audience, and types of Ads used.
What I learned is this, when a new feature is released its often heavenly weighted in the algorithm. Meaning, if you want to increase your ROI, use new features and thoughtfully targeted audiences to increase the possibility of producing a much higher click-through rate (CTR). Here are 5 ways to grow your business using Facebook advertising.
- New Feature Search Ads If you’re running product sales or conversion-focused campaigns. Facebook search ads should be on your placement list, they appear in relevant Facebook and Marketplace search results, (think Google Shopping results) this offers direct access to [potential] customers actively looking for your type of product. Currently, search ads are mobile only.
Ad Tip: Choose a photo where ‘the product’ is clearly the star.
- New Feature Campaign Budget Optimization Facebook recently changed the budget allocation from Ad Set to Campaign, this, coupled with Facebook’s own machine learning benefits you (the advertiser) by spending, less money, less time managing ads, and to avoid spending money on duplicate ads.
Ad Tip: Understand the Facebook advertising structure
• Campaign: Awareness, Consideration, Conversion
• Ad set: Audience, Placement, Budget
• Ad: Video and images
- Targeting Options – Just a few years ago, you could create a Client Aspiration that looked something like this (example purposes only) A 35 y/o unmarried Asian woman, living in a single family home in the 90210 zip code, with a Master’s degree, working as an Architect, with an annual salary of $300,000. However, due to increased privacy settings, detailed targeting options have recently been reduced [again]. The new detailed targeting options may be based on:
•Pages engaged with
•Activities people engage in on Facebook related to things like their device usage, and travel preferences
•Demographics like age, gender, and location
•The mobile device they use and the speed of their network connection
Today our client aspiration would look something like. A 35 y/o woman in the 90210 zip code, who has ‘liked’ videos on the Architecture Weekly Page, clicked on Homes for Sale ads and uses an Android.
Ad Tip: These types of business problems are best solved with a value proposition. If you know your Client Aspiration, you can read between the lines to create a target audience that fits your niche.
- Dynamic Ads – Here’s where you can benefit from the data Facebook has collected on its users. Facebook [Dynamic Ads] uses its own machine-learning based tools to automatically show the right products to your [future] customers who’ve expressed interest on your website, in your app, or elsewhere on the internet. These warm customers are more likely to take action from your ad. When your ad goal is say, link clicks or conversions, Facebook chooses products from your catalog, based on who the user is, to generate the best outcome for you.
Ad Tip: If you’re in guided creation and your campaign is eligible for dynamic formats and ad creative, Facebook will enable the feature by default. You can change the settings for this feature at the ad level.
- Video Ads People spend more time on their phone than they do watching TV. Facebook users watch close to 3 billion hours of video every day, and [individually] over 16 minutes of video ads every month. What that means for you is an increased opportunity to connect with your audience.
Facebook video ads are among the most effective ad format at your disposal. There’s no need to hire a production company or use selfie mode to create your next video. Facebook Creation Kit simplifies the advertising creation process and allows you to put movement to static pictures and is available to you with an Ads Manager account.
Ad Tip: Facebook and Instagram algorithm weighs heavily for video
So what does all of this mean for you? Boosted posts and Ads created on the fly are definitely a gamble.
I cannot guarantee you will see a positive ROI, but I can guarantee, incorporating your business goals and target market into your advertising will position you and your business for success.
Ad Tip: Try a new feature and test the results against your previous ads.
If you’re a business owner affected by Covid-19, and seriously, who isn’t? Facebook Small Business Grants willbe giving away $100 million in grants and Ad credits. Learn more. https://www.facebook.com/business/grants
CaraJoy Nash CEO of She’s Online Agency is a Florida based digital marketing educator and trainer working with Professional Women and Women Businessowners throughout the world.