With over 2.6 billion active users, it’s easy to see why businesses want to advertise on Facebook. The social media giant began as an easy way for people to connect with others, but has evolved into a massive digital advertising platform that can help businesses grow their sales and their presence online.
With that being said, not every business succeeds when it comes to running Facebook Ads; causing them to waste money and miss out on potential customers. This can happen for a number of reasons, not all of which are as obvious as you may think. Luckily, we’ve compiled 6 tips to help small businesses thrive with Facebook Ads.
#1 — Figure Out if Your Business is Right for Facebook
Before you even think about running paid ads on Facebook, you need to ensure your business fits the platform to begin with. To do this, you should consider your target audience. Who is your customer? Are they someone who would use Facebook regularly? If they’re not, then you’re better off focusing your advertising budget elsewhere.
For instance, businesses who sell products that are visually intriguing — shoes, apparel, tech, etc. — are the perfect fit for Facebook (and Instagram). This is because Facebook ads are mainly image and video-based and require you to grab a user’s attention while they scroll through their news feeds.
If you can’t accomplish this, then finding success with your campaigns can be difficult. Additionally, while Facebook has users from virtually every age group and background, 19% of their users are males aged 25–34. It’s wise to keep data like this in mind when approaching Facebook Ads.
#2 — Ensure Your Goals Align With Your Campaign Objectives
If you’ve determined your business (and what you offer) is right for the platform, you can proceed with creating your first Facebook Ad campaign. Keep in mind, each campaign will have its own objectives and will include a set of unique features to help meet that objective.
This should align perfectly with your goals. What are you trying to accomplish with your campaign? Are you looking to get more visits to a specific page on your website? Then you should select “Traffic” or “Lead Generation” as your objective.
If you’re simply looking to increase your business’ presence and let your target audience know you exist, then “Brand Awareness” or “Reach” are ideal.
#3 — Target The Right Audience
Audience building is a complex process that should be carried out before you start any paid ad campaigns. Once you know who you want seeing your ads the most, it becomes easy to find and target this audience when setting up your Facebook Ads campaign.
Facebook gives you a myriad of options to help nail down your audience. You can narrow it down by age, location (city, state, or country), gender, and more. Additionally, you can create audiences based on interests.
This means if you have a close competitor, you can leverage them to build similar audiences and start showing your ads to individuals who are already interested in the products and services you offer. For instance, if you owned Target (hypothetically, of course), you’d probably want to target users who are interested in “Walmart”, as both stores are very similar.
You can get as granular as you’d like with this audience building criteria; and even narrow down a set of people based on the brands of products they’ve shown an interest in or purchased in the past.
#4 — Set the Proper Bid Amounts & Choose a Campaign Budget
Having an understanding of the Facebook Ads bidding process helps tremendously when setting up your campaigns. Basically, a bid refers to how much money you’re comfortable spending on a specific action.
Actions can be anything from website visits, clicks on your ads, video views, and more. You can also choose to solely pay for the impressions (or views) your ads garner. Facebook allows you to set a bid price for every 1,000 impressions (or CPM) your ads generate.
Once you’re familiar with bids, you’ll need to set an overall budget for your campaign. Remember, Facebook allows you to set a daily or lifetime budget. Both options have different advantages, however, if you want your ads to run continuously without an end date, you’ll be forced to enter a daily budget.
#5 — Choose The Right Ad Formats & Placements
While it’s great that Facebook gives you so many options to choose from in terms of ad formats, this makes it difficult to choose which one is right for your campaign.
Overall the format you choose depends on the type of media you have at your disposal and what your campaign objectives are. Here’s a run down of the most popular ad formats Facebook offers:
● Photo Ads: These are the standard image-based ads you’ve probably seen countless times when scrolling through your newsfeed (on Facebook) and Explore page (on Instagram). These ads are always accompanied by text and a call-to-action (“learn more”, “sign up”, “call now” etc.).
● Video Ads: Video tends to be more powerful because it grabs the user’s attention. Like photo ads, you can add text/captions to your video ads and a specific call-to-action.
● Stories: This format is a more recent addition to Facebook. Stories offer an edge-to-edge, mobile-friendly ad experience for users and can be either a static image or video clip.
● Messenger Ads: Allowing users to see your products or services directly from their Facebook Messenger tab, this ad format is ideal for getting potential customers to take immediate action.
● Carousel Ads: Showcase multiple images or videos with this ad format. Each one becomes its own “card”, which can include separate links, call-to-action buttons, and text.
Another decision you’ll need to make in regards to your ads is where you want them to be placed. Generally, most ads are placed on Facebook newsfeeds and on Instagram Explore pages, but you can also choose to have your ads displayed on Facebook Marketplace, within Messenger inboxes, and more.
#6 — Monitor Your Ads & Adjust Accordingly
One of the most critical elements to running Facebook Ads successfully is your ability to monitor your campaign performance.
Facebook provides a range of standard metrics to gain insight into how your campaigns are performing, including clicks, impressions, CPC (cost per click), and more. However, you should take it a step further and implement Facebook Pixels for each campaign.
Pixels are basically a line of code that integrates with your website to track specific actions taken after a user clicks on your ads. These actions are considered “conversions” and, by tracking them, you can understand precisely how effective your ads are. You’ll also be able to make key adjustments to right the ship if (for some reason) your ads are underperforming.
Conversions, and the pixels you set up to track them, should correlate with your campaign objectives. For example: if your goal is to sell more products directly on your website, a Pixel should be created to track every time a purchase is made after a user clicks on your ads.
Visit Winnowdigitalservices.com to learn more about effective Facebook advertising tips for businesses.