When Facebook ads first came to the attention of the general public, they were decried as a tactic to increase the value of the company for a future stock sale. However, they have more than proven their worth for many types of organizations from non-profits to concert promoters and even attorneys!
The Advantage of Facebook Ads
One of the aspects of Facebook ads that we love is the targeting. Facebook ads can be targeted to the exact demographic, geographic and psychographic that a company needs in order to ensure the highest return on investment as well as conversion rate. Why? Well Facebook is really a “big data” center. We like to say that Facebook has THE MOST INCREDIBLE set of self-reported advertising information on the world! Think about it, you tell Facebook not only your age and location, but also who your friends are, what you are interested in and even how much each friend influences you!
The reason that Facebook has survived and thrived while other social media networks falter is because Facebook has done an incredible job in collecting and segmenting this data. Paying for a Facebook ad basically gives a business access to this entire cascade of free information with the ability to mold it to its advantage.
How Much Should You Spend on Facebook Ads?
For the most part, a small business can focus a small amount of money on Facebook ads and be quite happy with the results. Facebook ads can also be used to find other, more segmented places of interest that the target customer base frequents both online and offline. Once a company engages customers through social media networks like Facebook, it can easily direct a conversation on its Facebook page to provide the business with even more information about this audience.
Market Testing
Facebook ads can also be used to target and test a sales production or service before a full rollout. Many of our clients do market tests via Facebook, even non-profits starting a fundraising campaign! For example, service-based companies can use Facebook to provide instant feedback on their services without having to go through the frustrating strategy of creating surveys, focus groups, and other marketing techniques. People are comfortable giving their information away on Facebook; they almost do it in a nonchalant way as if they were talking to a friend on a park bench. That gives us valuable insight into the way people perceive a company’s ads, services or goods.
Interested in Facebook advertising? You can get started on your own at Facebook.com. If you’re looking for a strategic partner to help you maximize the value of your online advertising or marketing campaign, give us a call or attend one of our local workshops!
