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There’s an old saying: “You have to spend money, to make money”. That’s as true in social media advertising as anything else. Facebook ads are a great way to reach out to potential customers, market to existing ones, and raise your brand awareness. However, you might find yourself spending money on Facebook marketing, seeing no results, and not understanding why.
Here are three ideas to keep in mind when designing your Facebook ad strategy that will give you a bigger bang for your buck. These tips will help you understand if an ad is working, and help you achieve those sales conversions you crave.
1. Know Your Value Proposition
A value proposition is what you have to offer that customers will find attractive. This may seem as simple as giving a great discount, having a good product image, or offering a solid product. Those things are only part of the deal. Your value proposition also includes a “why” element: Why you? Why your brand?
People want to make the decision to buy, not be told to. So, you have to think creatively about what your customers’ value and how to tap into that.
One of the best approaches to take is to gain a deeper understanding of the psychology behind purchasing decisions. There are plenty of resources available on the topic, particularly when it comes to the psychology behind a good Facebook ad. Once you have the knowledge base behind you, you can begin crafting ads that resonate with customers by providing them with the value they inherently wish to see.
2. Understand When Facebook Ad Metrics Have Meaning
Facebook clicks, likes, shares – we hear about them all the time. The more, the better is supposedly the game. Well, yes…and, no.
If no engagement or sales are coming from those metrics, it does not matter how high the numbers are (unless your goal is simply raising brand awareness). Remember, on Facebook, those clicks and shares can cost you money, so you need to understand whether they’re actually buying you anything in return.
Keep track of the clicks, how much they cost, and how many leads to actual sales. If you’re getting lots of clicks but unsatisfactory sales conversions, your campaign needs work. Is it your text? Your landing page? The lack of ease to make a purchase? Anyone of those things and more could be the problem. A/B test by changing just one feature of the ad and try again until you notice positive changes in your data.
3. Do Your Market Research
To be successful on Facebook, you need to position your product in your key demographic. In order to do so, you need to understand who your customer is, then target your ad at that type of individual.
If you’re a local pizza place, why advertise to the entire Facebook user base when all of your customers are within 10 miles of your shop?
If you sell women’s dresses, your primary client is going to be female. Make sure to adjust your Facebook ad campaign appropriately to target only those who will be most interested in your brand and the most motivated to make a purchase.
Fortunately, the Facebook ad platform lets you tailor your demographics in incredibly detailed ways. You can select ad placement by geography, age, interests, or target behaviors, like whether has clicked an ad of yours before or has recently made a similar purchase. You can then use your targeting to enhance your audience research. For example, run the same ad with different targeting categories to see which one does better. You can then eliminate audiences that are not performing well, and get even more specific within those that. Additionally, you can take advantage of Facebook’s Lookalike Audiences, which are a group of people that resemble your current customers but have yet to be targeted.
Don’t Reinvent the Wheel
Facebook has been around long enough to hone the tools for gathering a deep understanding about its users and to prove that advertising on their platform is the path to success. Therefore, let Facebook be your guide. The website’s tools offer marketers the abilities to gain key insights from consumers, create increasingly successful ads, and get to know their market better.
Guest Post by Ilan Nass, Taktical Digital