Tips for Effective Paid Facebook Ads
As the digital era continues to dominate, many companies look to paid Facebook Ads as a popular means of increasing return on investment (ROI). Without a doubt, Facebook Advertising can be hugely successful and arguably the most scalable ad platform.
However, companies often allocate a generous portion of their overall advertising budget toward Facebook Ads without first developing a clear understanding of best practices. As a result, we are noticing an influx of frustrated advertisers who think Facebook doesn’t work for their company – so we want to help!
Here are Farsiight’s five tips for effective paid Facebook Ads…
1. Sell without selling
Wait, what? How does one SELL without actually selling? Paradoxically, we know that people do not like being sold to but do love buying. How do (good) advertisers work around this? By appealing to emotion, creating a narrative or essentially making the customer feel like it was their idea to purchase not yours. There are numerous ways to work around direct selling, such as free trials, giveaways and so forth to build rapport and persuade audiences to spend without direct selling!
2. Setup Facebook Pixel Tracking
It is absolutely vital that businesses setup facebook pixel tracking in Facebook Business Manager before spending a cent on paid social advertising. The facebook pixel will gain insights into who your ideal customer is based on their demographic, age, location, interests and behaviour. The more data this facebook pixel collects the better your ads perform as they are more likely served to an audience that is similar to previous purchasers (if that’s what you’re optimising that ads towards).
3. Facebook Ad Clicks and engagement do not equal sales (but are essential)
A common mistake is focusing on how many clicks your ad is getting and how much engagement there is surrounding it. For a paid facebook advertisement to be deemed successful you should be seeing an increase in SALES and that is how you receive your ROI. However, clicks & ad-engagement are an essential piece to the puzzle as you can re-engage or remarket to these users. A strategy we regularly deploy at Farsiight is, “value-first”. This could be in the form of a blog, e-book, or content piece designed to engage with your prospective customer but not ask for anything in return, you’re simply providing value to them. This in-turn builds trust and the next time you engage with this person through a remarketing strategy, they are more likely to be receptive to a call-to-action (CTA).
4. Keep building on your facebook ads
You simply cannot expect an overnight success when it comes to paid Facebook ads and as such it is important to continue building on what you already have. Do not skip steps, plan and evaluate regularly to nurture the growth of a successful facebook marketing campaign. Two helpful skills in this process are testing and optimising.
The later, optimising, is extremely simple (thank god). Figure out what works and do more of it. Figure out what does not work and stop doing it. Easy! This also refers to the creative optimisation, AKA how visually appealing it is. Optimization strategies vary depending on your industry, goals and objectives. As such, relevant research is key.
Testing is fairly self-explanatory, but useful elements to test include; Facebook Ad Design (call to action, text, image, headline etc), Facebook Target Audience (demographics, purchase behaviours etc) and Miscellaneous (Ad type, Ad placement etc). We recommend researching Facebook Ad targeting options prior to setting your campaign audience. Remember one golden rule with testing; assume nothing, test everything.
5. Implore long-term planning
The nature of social media is impulsive, instant and often short-term. We challenge our clients to think long term and recognise the overlooked opportunities that come with it. As tempting as quick sales are, you neglect a crucial element of Facebook advertising which can implicate the success of your campaign. Allow us to introduce you to the term – Customer Lifetime Value (or LTV).
Now, let us show you the numbers. Let’s say your business is selling a service at $50 per person and to acquire said person costs $75. Ordinarily, this would seem negative, as you are losing money. Don’t give up yet though! You refer to your long-term plan and see that the LTV is $1000 and as a result recognise that a $75 acquisition fee is marginal! Basically, you are fronting an initial cost because you know the long-term return is huge. SMART business.
Effective paid Facebook Ads do not need to be a budget killer for your business. It is possible to nail paid advertisement and see real ROI. Remember Farsiight’s five tips before commencing your next campaign.
Good luck with your next paid Facebook Ads campaign! You are one step closer to success now you have read this article. If you would like more advice or guidance with Paid Social Advertising feel free to get in touch with Farsiight today.
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