In the past 2 years Facebook Ads quickly became one of the top advertising platforms. The fact that you have access to such a wide variety of targeting options (such as interest, location, workplace, education, age & marital status) makes Facebook a very attractive medium for advertisers. Also, Facebook Ads is really easy to get into. Its interface is user-friendly and intuitive. You don’t get as many advanced options as Google Adwords, but you get everything you need to reach out to your target audience. The potential is definitely there, it’s only up to you to use it properly to gain new leads/sales. If you’re thinking of trying our Facebook Ads, here are a few key tips that you should follow to get the most bang for your buck…
1) Test Various Ads
This is probably the most important tip. You can’t launch 1 ad and expect it to continuously perform. Launch 3-4 Ad Variations to start with. Each one should have a different title, image and description. See which one generates the highest CTR (Click Thru Rate) for the lowest CPC (Cost Per Click) and build your future ads based on what works and what doesn’t.
2) Test both the CPC and CPM Models
90% of people stick to the CPC model, but advanced marketers know that the CPM can sometimes be much more profitable. CPM basically means Cost Per Mile (or Cost Per Thousand Impressions). If your ad is eye-catchy, interesting and targeted to the right audience, the CPM model will probably give you a much lower CPC overall along with a higher CTR. More Clicks for less money, isn’t that what everyone wants? 🙂
3) Use Catchy Images
Make your image stand out! Use bright colors and relevant pics. What does your audience want to see? For instance, if you’re promoting material for singles, you might want to use a photo of an attractive woman/man. If you’re targeting Canadians specifically, you could use a big red Maple Leaf as your ad image. It’s all about putting yourself in your consumer’s shoes and thinking “what is it that will catch my eye immediately?”. Again, you might want to test out different images to figure out which one works best. Also, make full use of the Facebook Ads image limitations (110 x 80 pixels).
4) Promote a Fan Page instead of an External Website
It has been proven that promoting a Fan Page converts better than promoting an external website. The reason is simple: people that are on Facebook want to stay on Facebook! They are there to connect with their friends and loved ones, not to shop. They would rather not leave the site. It is not the same thing as Google where people specifically go to search for external content. The best thing you can do is to create a custom landing page within your Fan Page so that people can take an action right there (sign up to a newsletter, inquire for more details, purchase a product, etc…) while still being on Facebook.
5) Try running your ads at different times of the day
This is something that most advertisers overlook. What time of the day are your consumers hanging out on Facebook? If you’re targeting a younger audience, you might want to run your ads during the evenings/nights. If you’re targeting older people, early in the morning is better. This tip is especially important for those who have small daily budgets (under $25/day). Your daily budget might be exhausted within 3-4 hours and your ads will stop showing until the next day.
6) Use Interests-targeting!
If you have a general product that anyone can be interested in, it’s fine to target a whole country or even the whole world, but if your product is particularly geared to a specific audience, make sure you use the interests targeting! A lot of people skip the interests because they find that their “Estimated Reach” drastically drops when they start entering them. The question is: would you rather target 3 million random people, pay a higher CPC and have lower CTR ….OR…. target only 300k people who are specifically interested by your industry and enjoy a higher CTR and a lower CPC? The latter will certainly give you more bang for your buck! The reason is simple: Facebook assumes that an ad that has a high CTR is particularly well suited for the chosen target market, so it will display it more often and it will drop its CPC. On the other hand, if not enough people are clicking on your ad and your CTR is bad, Facebook will assume that you’re targeting the wrong people so it will increase your CPC. It’s all logical when you think about it, Facebook wants to display laser-targeted ads to its users, so it will reward ads that are well targeted by charging them less for more clicks!
That’s it folks! These guidelines are everything you need to succeed when it comes to using Facebook Ads. If you do not have the time nor expertise or energy to successfully launch/manage your company’s Facebook Ad Campaign, IronMonk can help. Our Facebook Marketing Services are well suited for all types of businesses, ranging from small corner shops to large-scale organizations. Contact us today for a free quote.