Facebook has changed the modern advertising game by single-handedly turned paid social media ads into a must-have marketing strategy. For small businesses with a limited budget, Facebook advertising provides an unprecedented opportunity to tap into the width and the depth of customer demographics.
According to Pew Research, as of mid-2017, there were 2 billion monthly and 1 billion daily active users. Approximately 83% of women and 75% men used Facebook and people aged 18 to 29 were the most prevalent users. And 82% of users had some college education.
India, Brazil, and Indonesia are regions with the most members amounting to 85% of Facebook’s daily users. An average user spends 35 minutes on this platform each day. With such a massive number of users, the reached markets and segments can’t be matched by other social networks.
Organic newsfeeds, which are unpaid, have become more clogged over the years and Facebook uses new algorithms that limit the distribution of our friends’ feeds. However, Facebook ads remain and have evolved over time to cover more formats and audiences.
If you own a small business, you can choose to limit the daily budget to spend on Facebook ads, so it won’t go overboard. Now, here are 5 ways that you can use to leverage Facebook Ads for your business
First, decide on a measurable goal.
Be specific in your ad goal. It has to be measurable, so you can truly evaluate the results to find out whether the ad has been working or not. Possible goals: increase traffic to the site, get more Facebook page likes, get more newsletter subscribers, and generate more sales of your products. Be specific on the number of visitors, subscribers, and sales you’re aiming.
Second, choose the most appropriate ad format.
Facebook offers multiple ad formats: video ads, slideshow ads, canvas ads, photo ads, boosted posts, and augmented reality ads. Video ads are very popular with more than 100 million hours watched every single day. Experiment with each format to find the one that works the best.
Third, create your ad copy.
Write an interesting and enticing copy with one CTA (call to action), so it’s clear enough to readers on what to do. Use any CTA like “click,” “visit,” “like,” and other terms that are combined with “now, “instant,” and “limited time” to create a sense of urgency.
Fourth, set the target audience and budget.
There are 3 Facebook audiences: Custom Audience, Lookalike Audience, and Saved Audience. For Custom Audience, you can upload a list of current customers or leads. Facebook will match the contact information with Facebook users and develop an audience. Another way to create an audience is based on website visitor behaviors, which can be detected with Facebook pixel embedded on your site. The third method is by generating an audience based on Facebook engagements. Set small budgets for the daily and the overall campaigns budgets.
Fifth, evaluate the results.
Take good note of the ads performance. How many sales can you get from 1,000 new Likes, for instance. As long as you spend less than the profit generated, it has a positive ROI (return on investment). Thus, make sure always to evaluate the results of each campaign.
At last, any business regardless of size can leverage the power of Facebook Ads. Starting small within your budget should provide you with some ideas on the sales conversion rate; thus you can strategize accordingly.
About the Author
Jennifer Xue is an award-winning author, columnist, and serial entrepreneur based in Northern California. She is also a digital strategist for several e-commerce and app companies. Her byline has appeared in Forbes, Fortune, Esquire, Cosmopolitan, Business.com, Business2Community, Addicted2Success, Good Men Project, Positively Positive, and others. Her blog is JenniferXue.com.