One has to have a strategy in place and keep a tab on the latest Facebook tools and trends to leverage maximum returns from Facebook ads. Below, you’ll learn why Facebook Ads are so useful and how you can use them to propel your business forward.
If we look at the sheer number of Facebook users globally, it’s pretty evident that your customers are using the platform:
These numbers reveal that there is a vast audience pool. With the right strategy, Facebook ads can generate exceptional ROI for small and large business owners alike. However, large business owners may enjoy some cushion as they can scale their ad spendings on demand.
That does not at all mean that small businesses are not on a level playing ground though. All they need to do is focus on their audience and reach out to them with engaging ads. The ads must offer value and entice users to take the desired action.
More than half of small business marketers complain of poor returns from their Facebook ad campaigns. The solution to this recurring problem lies in understanding the fundamentals of Facebook advertising.
By doing so, small businesses can ensure that they are putting the best foot forward and generate positive returns from Facebook ad spends. Here are a few tips to help small business marketers stop struggling and start winning from Facebook ads.
An algorithm is a well-defined set of instructions written in computer-interpretable language to solve a recurring problem. In Facebook’s case, the algorithm makes the world more open and connected.
Facebook’s algorithms allow us to connect with millions of other people on the internet. We can join communities, follow pages and personalities based on our interests, express our thoughts, share posts we like, and even plan events and promote a cause or business.
For advertisers, the Facebook algorithm can act as a catalyst for successful campaigns, provided you are well-versed with the tools offered by Facebook to marketers.
A goal helps you create the right strategy for the ad campaign and monitor your campaign performance using the right KPIs.
Whether your goal is to sell more products or create brand awareness, the campaign objectives must connect to your end goals. Thankfully, the Facebook Ads account helps you do this.
Once you have selected your ad objective, you will have a list of subcategories. Choose the one that best matches your ad goals.
Note: You can even select multiple subcategories. However, make sure to know about their exact purpose and choose only the ones that best align with your goals.
Once you have selected your campaign objectives along with the subcategories, the Facebook algorithm will match your goals with relevant KPIs, which will help you monitor your campaign and further refine your campaign in the future.
Here’s a list of the KPIs related to each objective:
What’s the point of displaying an ad to the wrong audience?
You can’t expect bachelors to see baby diaper ads on their Facebook feeds and buy them!
You must identify your audience precisely to ensure your ads return maximum ROI.
Thankfully, Facebook offers the Audience Insight tool to make your ads more meaningful to people on Facebook.
To use Audience Insights Tool, login to the Facebook Business Manager and select the Audience Insights option under the Plan section.
A pop-up menu will appear when you click on Audience Insights. You will have two options to choose from: Everyone on Facebook and People connected to your Page.
Based on your selection, you will be directed to the main screen. On the left-hand side of the screen, you will have a created audience menu with multiple filters to refine your audience search based on location, age and gender, interests, and other advanced options.
You can use these filters to scan through a large volume of audience insights and identify the vital interests and buyer persona to target.
At times your existing page audience may not be large enough to return valuable insights on your target audience. Instead, you can use the “Interests” section to gain insights from other popular brands in your industry. This way, you will have a fair idea about the demographics you want to target and the behaviors you should prefer.
Audience size for your Facebook ads will vary based on your end goals. If your main objective is brand awareness, then a large audience size will serve your needs well. In this case, it is always wise to keep target settings to the minimum.
However, if your goal is selling, then your target audience size should not exceed 1,000,000 people. In addition to this, it is always wise to consider primary factors like population size in your target location, the sage of your sales funnel, and your budget.
Last but not least, you must also understand the different targeting layers such as AND and OR targeting logic, which can play a significant role in narrowing your audience size without compromising on the ad ROI.
Ideally, small business marketers cater to a local customer base or serve a specific industry segment. In either case, you must choose the right geotargeting option.
With Facebook ads, you can target your audience based on people living in a particular location. You can even filter groups like travelers who will be in that location for only a short time and least likely to show interest in your ad.
In addition to targeting the different categories of locations, you can also use the “Drop Pin” option. Move over to the map and place the indicator on your preferred target area, and set the location range using the radius slider.
A content calendar will help you stay organized, avoid blunders, and improve ad content quality for delivering consistent value to your target audience. Furthermore, once you have an active set of ad campaigns, you can use the content calendar to map the progress and ROI of each campaign efficiently and further refine your strategies.
To run successful ad campaigns, you will have to keep revisiting and updating your audience research. As your audience insights get more granular and insightful, your campaigns will further improve your ad ROI.
Facebook also introduces timely changes in its ad policies. For this reason, it is equally essential to keep yourself informed about recent updates. Visit Facebook for Business where you can find information on critical updates and tons of tips to turn your Facebook ads profitable.
Market conditions have changed abruptly following the coronavirus outbreak. Local businesses have suffered extensively from the economic downturn. They are now looking at digital solutions for reaching out to their customers. Facebook advertising would be on top of every small business owner’s list.
Naturally, small business marketers will have to cater to an increased demand for Facebook advertising. White label Facebook ads services can help small business marketers deliver on client requirements seamlessly. One such popular platform is DashClicks, which saves small business marketers endless hours spent on campaign setup, data analysis, reporting, and monitoring. With DashClicks on their side, small marketers can focus single-mindedly on growth while DashClicks takes care of fulfillment. Sign up for a free account to get started!