I get it. Nobody has the time or money to waste on advertising. It’s expensive, and the results aren’t guaranteed. But, it doesn’t have to be a nightmare. If you do things the right way, you will find yourself getting way more than what you paid for. There are five things you need to know before launching a successful Facebook ad campaign.
Good content helps you not only maximize the cost efficiency of your ad, but outperform even Facebook’s projections for your campaign. To put it briefly, Facebook ads work in accordance with a bidding system. But let me tell you a secret: good content will always outperform the projections, no matter how low the bid. Facebook positions ads that users are more likely to respond to. Focus on putting out catchy, highly shareable, highly “taggable” stuff.
You can get a lot more than what you pay for.
Your marketing niche is made up of the people you think would be most interested in whatever it is you have to offer. You can fashion your target however you wish. A good rule of thumb is to work your way from small to broad instead of the other way around. If your target range is too large from the beginning, Facebook will eat up your budget really fast for a minuscule return.
Run the campaign for a week. You just want to see if you were right about what your key demographic was. Next, you evaluate your results. Ask yourself what is an acceptable amount you would pay for one engagement (or page like, or click, etc.)
It’s best to spend wisely and spread a little bit over a longer period, relying on effective marketing research to hit the people most likely to respond.
When do you know it’s time to increase your budget?
If you met or exceeded your expectations, then expand your target, but don’t think you have to increase your spending just yet. Run another campaign. Were the results better or worse? Keep doing it until the results get worse. Then increase your spending.
If you fell short of your expectations, go back and reexamine your niche. Then run another campaign. Continue repeating this process until your cost efficiency meets your expectation.
Don’t spread yourself too thin. Facebook likes to split its placement of your ads roughly fifty-fifty between it and Instagram. For those who are using ads to direct traffic to a website, I would recommend unchecking Instagram in the “Placements” section of the ad manager.
Hopefully, in a few short words this article was able to demystify the whole Facebook ad process and give you the confidence to advertise your small business. You got this!