How to Promote Your Product Using Facebook Ads
We are big believers in Facebook advertising to the extent that we no longer use Google Adwords. Why the shift?
“Why advertise with Facebook? Its customer targeting features.”
- Targeting. Over the years, Facebook has compiled extremely specific data about all its users – arguably the most comprehensive in the world. (When you pay nothing to use a product, you are the product…) You can target incredibly specific demographics including: location, age, gender, interests, education, occupation, life events, “likes” (brand connections, book/music/sport/film interests etc), apps, interest groups, mobile device use, purchase behaviour, travel (Source: http://www.jeffbullas.com/2014/07/08/why-should-you-spend-money-on-facebook-advertising/)
- A low spend requirement. You can advertise on Facebook for $5 a day. (For more competitive niches, you’d be unlikely to even feature in AdWords). Add to this flexible budget options, e.g. cost per 1000 impressions, cost per action, cost per click etc. to give you greater control.
- Your market is out there. With over 1.6 billion users all over the world, your target audience is reachable with Facebook ads.
- Good analytic tools. Facebook provides comprehensive stats to track how your ads are performing. This allows you to monitor performance, optimise campaigns and kill-off underperforming ads.
- Low customer acquisition costs. If you hit on a successful campaign, it’s possible to acquire customer leads for 10 cents or less. No other advertising channel we know of can consistently offer such a low cost.
How to get started with Facebook ads
Facebook offers some advanced features and it can quickly become overwhelming. However, as with most things, you only need to understand 20% of its features to derive 80% of the benefit. Fortunately, the Content Marketing Institute has created a guide that does just that. From their article:
For those who are entirely unfamiliar with Facebook ads (or are in need of a little reminder), let me break down the basics as quickly as I can so we can move on to making them work for you and your business
Types: There are three types of Facebook ads: Sidebar, News Feed, and Mobile News Feed:
- Sidebar ads are the cheapest options, though they also have the lowest average click-through rates.
- News Feed ads are the most expensive and have the highest average click-through rates.
- As the name suggests, Mobile News Feed ads are specifically designed for display on mobile devices.
Pricing: There are two primary pricing structures: pay-per-click (PPC or CPC) and pay-per-impression (PPM or CPM) — an impression being 1,000 views of your ad.
How many people will see your ad: Your targeted audience and your ad budget both help determine the number of users who will see your ad on Facebook. When you create your ad and decide on your target audience (more on this later), you will see the “Potential Reach” of your advertisement on Facebook — “Reach” being the amount of people who may see your ad.
Read the full guide here: http://contentmarketinginstitute.com/2014/04/facebook-ads-content-marketing-ultimate-guide/
- Facebook has, hands down, the best customer targeting features of any other marketing channel.
- You can start advertising from as little as $5 a day.
- With 1.6 billion users, your target audience is on Facebook.
- Write a Facebook ad for a product you have in mind. Here’s a good place to start.
- Acquaint yourself with Facebook’s advertising rules.
- Build a landing page for your product to which you will direct Facebook traffic and collect visitor emails to build your list.
Photo credit: eston