Let’s face it, Facebook advertising is all the rage these days and with good reason. What was once viewed as a network without monetization capabilities is now the go-to platform for engaging customers.
Gone are the days when print, television or other high-dollar, high-ticket advertising avenues were the only way to really penetrate your target market. Thank you Facebook!
Advertising on Facebook is incredibly cost-effective. Locally targeted advertising campaigns can cost you as little as a few dollars a day. What other truly effective advertising channel can say that?
More than that, Facebook offers advertisers something truly unique. A robust targeting interface that even the most novice advertiser can utilize. In fact, it seems that every conceivable interest, life event, behavior and demographic is now within reach.
Exciting, yes! However, advertising is never really that simple. While Facebook has changed the advertising landscape for the better in many regards, it continues to offer marketers challenges. In reality, the sheer depth of targeting options can overwhelm and lead marketers down the path of being overly broad, or conversely too narrow, in their targeting.
The first step to avoiding this trap is knowing your audience. The second, and more crucial, is refining it such that your ad campaign specifically speaks to the interests, wants and pain points of your target audience. Sounds simple, but in reality, it’s far more nuanced that it appears because customers are multifaceted with multiple interests. Understanding their priorities takes work.
The good news is that Facebook makes it easy for advertisers to quickly understand if they’re targeting the right people by applying a relevancy score to your campaign. Low scores equate to a miss of your targeting, whereas high scores reflect greater accuracy and relevance to your target customer.
Another challenge for advertisers is knowing the appropriate size of audience to target. The truth is that Facebook needs a big enough audience to effectively optimize your advertising campaign. Thus, it is far better to err on the side of too big versus too small. Generally speaking, the sweet spot for well-funded campaigns is 500K-1 million. At the same time, audience size is also determined by your advertising budget. A larger budget will afford a greater reach. In this way, Facebook is exactly like other advertising channels. Reach equals cost.
Of course, this post wouldn’t be complete without referencing the importance of creative. While this can seem like a no-brainer, you would be amazed at how often an image isn’t sized appropriately or it just lacks appeal. The truth is that all advertising, no matter in which avenue it is placed, needs to be captivating. This is particularly true on Facebook as users quickly scroll through their feed. If the ad isn’t interesting, it is easy to scroll by without a second thought.
Like all things related to advertising, there is always an element of trial and error. However, what is exhilarating about Facebook advertising is that the platform offers so much at such little risk. Even large campaigns afford little risk because Facebook is so much more cost-effective than alternative advertising options. Starting with smaller campaigns, analyzing results, and building from there further mitigates the risk. That doesn’t mean that advertising on Facebook means your business or campaign will be an overnight success. It still requires frequent research, analytic review and testing, but the chances of success on Facebook are significant. Commit to fully understanding the platform, and your propensity for achieving positive results dramatically improves.