By Caragh McKenna, group account director at The Search Agency UK
When it comes to Facebook, the general consensus among advertisers is an overall grumbling discontent. Premiums Ads are too costly, Marketplace Ads aren’t effective enough, and no one really understands the point of Sponsored Stories. Frustrated, advertisers are trying their utmost to get to Facebook’s massive goldmine of user information.
Users that see ads on their Facebook account aren’t necessarily at the point of purchase but they are still easily influenced by and willing to interact with brands. It is safe to say, advertisers will continue to spend money on Facebook ads because that’s where all the eyeballs spend their days.
So if you’re not getting the desired results from your Facebook spend, I’d advise looking at a new strategy. Here are seven points to consider:
1. Understand Your Own End Game
What exactly do you want from your Facebook ads? Are you looking for conversions, lead gen, brand awareness or even building a platform for all your brand minions to sing your praises? Social media has only recently become a respected and serious form of advertising, which means the trails are still a little rocky. You might need to blaze them for yourself with concrete goals and KPIs for both the long and short term.
2. Develop ROI Goals
Decide how your success will be measured. Is it CTR, impressions number of Likes, conversions, sales or lead gen information? Set realistic ROI goals that work in tandem with all of your other objectives. Brand awareness tactics, such as impressions and Likes, may not yield revenue right away, but forms part of what will influence your future customers and brand champions.
4. Settle the Debate on CPC vs. CPM
Choosing CPM can be a great form of brand awareness, because if you show something to someone enough, they just might click through eventually. However, just know that you run through a thousand impressions faster than a box of Thin Mints because there are so many people online at any given time. CPC is generally thought to be a more cost effective way to allocate your ad spend. Either way, it comes back to your overall goals.
5. Test Multiple Versions of Creative
Don’t get frustrated when an ad doesn’t perform the way you want. Just like your Google campaigns, a Facebook ad needs creative testing to find out what works with your audience. The nice thing about Facebook is your options. If text ads just aren’t doing the trick, try a photo, video or sponsored stories.
You can tweak the communication in text ads in real-time so if something isn’t working you can change it as frequently as you want till you strike the right chord with your audience and see the traffic flowing.
6. Be More Strategic With Landing Page Choices
Where you take your customer could either make or break the deal. The best place for your ad’s landing page is on your brand’s Facebook page, or a product, contest, or other interactive app relating to the ad. If you are really looking to drive conversions, take users to a specific point in the path of purchase on your brand’s website.
7. Take Advantage of Targeting Alternatives
One of the coolest things about Facebook advertising, and a huge reason why malcontent marketers are still there, is the very specific targeting options offered. Take advantage of this! Gender, marital status (or ‘relationship status’) , age range, and geo targeting are all available for your ads.
The most interesting targeting option available with Facebook ads is the ‘interest’, for example you can target users who are interested in a particular sport or a movie or TV show or even users who like a celebrity on Facebook. (Psst: you can even target the users who like your competitions page on Facebook).
Facebook recently released its ‘custom audience’ tool for advertisers enabling marketers to now target customers based on the behavioral actions they take outside of Facebook (even retargeting). With this tool now you can target friends of your current customers.
Taking a step back and reviewing all options helps makes things clearer and alleviate frustration for those feeling discontented.
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