Have you been curious about Facebook Ads for your business?
Have you seen ads pop up in your feed and think ‘I wish I could do the same for my business!’?
Perhaps you’re thinking that paid ads are only for the ‘big guys’?
Trying something new for your business, especially when your hard earned dollars are on the line, can be a little nerve wracking. I know because I feel the same about it in my business, you don’t want to be spending all this money if it’s not resulting in a return on investment, right?!
The great thing with Facebook ads is that you can track ROI (which means Return on Investment, dollars out vs dollars in)! For example, one of our clients has a monthly budget of $150 for the FB Ads that we run, in March that $150 budget resulted in $2,231 of sales on her website AND 233 new page likes.
I believe that there is an opportunity for all businesses to use paid advertising, no matter what you sell, how big you are, or what your budget is! As long as you have a clear purpose and a plan in place to execute it. There’s no point throwing money on an ad and just hoping for the best, you must have a strategy!
Just know that it can take a little trial and error to find that sweet spot before you start seeing the above sort of results.
Here are 5 quick reasons why you should be using Facebook Ads:
Your Audience Is On Facebook (1.84 billion users are accessing Facebook daily!)
Facebook Ads Are Relatively Cheap
Their Targeting Capabilities Are Amazing
Their Re-Marketing Strategy Is Super Effective
It Will Allow You To Find New Qualified Leads
So the answer to this blog: YES! You should use Facebook Ads to grow your business this year. But let’s dig a little deeper and discuss how you could be using Facebook ads for YOUR business.
SO! The number ONE question… What do you want to achieve from your Facebook ads? If you want Facebook ads to work for you, you have to know exactly what the goal is! Let me break this down for you a little more…
When you’re setting up your Facebook ad, you will have a heap of different campaign types/objectives to choose from, and these are directly related to the outcome of your ads. So what type of result could you expect from Facebook ads for your business? Here’s a few to brainstorm:
Increased website traffic
Better quality leads
Build brand awareness
Grow your following
Grow your business in an untapped location
Connect with people similar to your current audience
Advertise to people who have already visited your website
How do you think you would like to use ads for your business?
Every ad you design should have a clear goal and it should be something you can easily track so you know if they’re working on not. Again another great reason we love FB Ads is for that very reason - they have such great tracking tools, you can just about track any little detail you want from your ad! Compared to say a radio ad - who knows who hears that and takes action??
So how can you start using Facebook Ads to grow your business?
Decide On A Goal: What do you want to get out of running Facebook ads, this is of course unique to every business and something you need to decide or discuss with an ad expert who is setting up your ad for you.
Decide On A Budget: Figure out how much you can afford now and stick with that. We would recommend a minimum of $100 per month to really see a difference. But you could spread that over two ads, $50 each/month!
Create Your Audience: This is a VERY important part of the process, you MUST know who you want to target, in order to get the best results. If you were to advertise to everyone, you’re going to be paying for so many people to see your ad who would NEVER buy from you. So ask yourself who your target market is, what type of demographic would be interested in what you have to sell, and then use Facebook’s audience tool to create a narrowed audience of your most likely to buy customers! If you have set up a Facebook Pixel (more about that over here), you can also create lookalike audiences of your current followers or re-market to your current audience/website traffic.
Watch & Learn: Once your ads have been published and approved by Facebook, check in every couple of days to see how they’re going. Take a look at the results and see which demographics are most likely to take action from your ad, you can then tweak your audience to narrow down on this segment, as you now know these are the people most likely to take action after seeing your ad. After a month of running your first set of ads, take a look at the overall results. Did you achieve an ROI, what was it? Is it worth increasing your budget to increase sales? I.e. if for every $1 spent on ads, you profit $2.. Then possibly, for every $500 you spend, you could profit $1,000! Remember this is RETURN ON INVESTMENT, so how much you make after the cost of running the ads. There’s no point paying $5 for a sale of a $4 item, you lose money!
Honestly, I could talk about ads all day, and if you got me in a room by myself, I could talk even longer about how you could run effective ads for your specific business, but I won’t bore you with my nerd talk for too much longer!
At the end of the day, your audience is on Facebook, you just need to find them, figure out what they want/need from you, sell what you have to offer in a way that gets them interested, and watch your business grow!
Of course, we don’t expect everyone to be experts at this stuff, after all, we do this for a living, and often forget not everyone is living in our little marketing world.
We have some clients where we manage their entire marketing strategy and Facebook ads fall within that, and then we have other clients who just have us running the Facebook ads part of their marketing strategy while they take care of the rest.
If you feel like you might need help to find your feet with ads, we are always more than happy to work with you to set up your first few campaigns so you can see results. We can also create specific audiences for the different areas of your business which you can use over and over again in future ad campaigns. You can get in touch with us over here.
If you’re keen to DIY it, remember to join our Tasmanian Online Marketing Support Group for free. I have no doubt we will be chatting about this very specific topic more in the group in the near future!
Have fun getting your first lot of Facebook Ads up and running, we would love to hear your results when you do!