Targeting, control, and low costs put Facebook ads in play for all marketers
Published: April 24, 2013
Author: Molly Shotwell
Today’s post is by Nick Steeves, Director of Marketing at Wishpond.
Facebook is one of the most popular websites on the Internet, and that means plenty of exposure for your ads. Facebook users visit the website to consume and create information, which improves ad visibility and chances for your ads to have a positive effect on a large audience.
Facebook Ads are featured by industry-best targeting. You can target based on age, gender, interests, location, and even relationship status. It’s also completely trackable.
Facebook Ads open the full power of Facebook’s Open Graph (Facebook’s database of all of its users’ demographic, psychological, and behavioural information) to marketers, who can target ads to groups by 15 (!) different data points:
– Location (Country, State, City and Zipcode)
– Precise Interests: These are pulled from users Facebook profile activities, interests, job titles, education, pages they have liked and groups they belong to.
– Broad Categories: These are pre-organized audiences that Facebook creates by examining basically anything a Facebook user does, clicks on, or writes anywhere on Facebook.
– Connections: Users who like specific Facebook Pages.
– Friends of Connections: Users whose friends like specific Facebook Pages.
– Interested In: This allows a business to target Facebook users according to the gender they are interested in for a friendship, dating, a relationship or networking.
– Relationship Status: This allows a business to target Facebook users that are married, single, engaged, or in a relationship.
– Languages: This targeting option is best used when targeting an audience that speaks a language that is different from most of the people in the targeted geography.
– Education: This option enables the targeting of Facebook users that are in high school, college, or a college graduate. Businesses can also target Facebook users that went to a specific school, study a specific topic, or for current college students, their expected graduation date.
– Workplaces: Targeting Facebook users by where they work can be useful in various B2B, job search, and industry specific scenarios.
The best kinds of Facebook Ads promote content that targeted buyers are interested in at all times, such as free recipes, free guides to boosting a business’ marketing, etc., that are related to your products. These will drive clicks to your site or Facebook Page and allow you to add new leads into your sales funnel and nurture them to become customers.
What is the benefit of using hyper-targeted social advertising?
Hyper-targeted social advertising allows you to design a target group according to various criteria and choose the people you want to advertise to, especially those who have strong preferences for your services or products. If you want to reach a broad demographic with your ad, you can tailor your ad to each segment of it. If you have a smaller target market, you can really focus your efforts in on that particular segment of users. High-targeted advertising leads to higher profits by reducing inefficient advertising to consumers whose preferences do not match your product’s attributes.
With control and low costs comes little risk
Facebook ad campaigns can be very cost-effective. You set the amount you wish to pay based on cost per thousand impressions (CPM) or cost per click (CPC), whichever you decide. The minimum amount per day is only a dollar. You have complete control over your advertising budget. In addition, you have complete control over your ad campaign; you decide when to start, pause, or delete ads entirely using Facebook’s ad manager.
Since Facebook ads can be so inexpensive, it is easy to test market campaigns cheaply. The graph below shows the expansion of a brand’s reach thanks to a new ad campaign (above and beyond non-paid posts):
What are some best practices for optimizing ad performance?
– Create specific target groups
– Use images that illustrate the ads offer
– Avoid logo-only images
– Use your company’s name in the ad title
– Create different target groups for different interests and needs
– Include a call to action that encourages users to click on your ad
– Create multiple versions of your ad and test them frequently to see which ad gets the best response
I’d love to hear what kind of experience your business has had with Facebook ads. Drop a comment!
– Nick Steeves is Director of Marketing at Wishpond. Businesses can use Wishpond to run contests and promotions on Facebook, Twitter, websites and mobile. Learn more.