Most marketers know that having well targeted ads means profits – And that's what makes Facebook Ads so incredible. Facebook ads is a relatively new medium that most old school marketers have yet to tap, yet has incredible earning potential. Read on to learn the benefits of working with Facebook ads and how to make it work for you.
Target by Interest or Demographic
Want to target Christians in their late 30's? You can do that.
Want to target high earning business-oriented individuals in their 40's? You can do that.
Want to target people interested in Yoga? In computer programming? In entrepreneurship? In health?
You can specifically target all of those markets.
Facebook collects data on all of their users. You can then use Facebook's data to target what kind of ads to serve to whom.
For Local Businesses
If you have a local business – A restaurant or a business consulting practice, for example – You could easily target just people in your area who have a particular interest.
Facebook ads is a great resource for both local marketers and national marketers.
How to Create an Effective Facebook Ad
There are two things that are critical:
1) Right targeting
2) An attention grabbing picture
Unlike writing copy in other mediums, the text is less important. It still matters, but the image is your real grabber.
Your image should jump out and stand out. I'd recommend creating 3 separate images, letting it sit for a few hours and then finally choosing one.
Targeting the right audience is crucial. Start out by targeting very, very specific groups of people. You'll get less traffic, but you should make sure that your offer actually converts to this specific group before you expand out to a broader user base.
What's a Successful Campaign?
In Google AdWords, you could expect to get 10% CTR on a really good ad. That'll pretty much never happen with Facebook Ads.
Unlike permission marketing where they're asking for your product, this is interruption marketing where you're popping out on the side of the page saying "by the way, are you interested in this?"
A good CTR on Facebook ads is 0.1%. Generally you can expect to pay anywhere between $ 0.30 to $ 0.70 cents per click. If your CTR is high, you might want to switch to a CPM model where you pay per view instead of per click. You could cut your ad costs by as much as 50% by switching to CPM, but only if you have a killer ad.
After a period of time, if you have a successful campaign, you'll notice your CTR go down. This is because your ad is being shown to the same people over and over again.
Most marketers find that if they switch up the ads and pictures, the CTR will go back up. After a period of time, you might have to pause your ad for a couple of weeks before reposting to have your CTR go back up.
Making Money with Facebook
The secret to making money with Facebook is to carefully target just the people who are most likely to buy your product, then creating a killer ad that grabs attention and jumps off the screen.
If you have these two elements, you'll very likely make a killing on Facebook.