Most of us who market products on the Internet, be it e-books, products, or training programs, 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. I have done one Facebook ad campaign and was really impressed. 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 and you can then use Facebook’s data to target what kind of ads to serve to whom. Better yet, 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. For example, when I ran my campaign, I chose “virtual assistants” as the target group, which only numbered a little over 2,000 people. This is a small group to target, but since I wanted a highly targeted audience, it made sense.
What’s a Successful Campaign?
In Google Adwords, you could expect to get 10% click-through-rate (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 (cost per thousand impressions) 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.
Facebook’s original intent in offering two pricing options was to allow advertisers to essentially pay for “goal completions.” If your goal was to drive traffic to your website via click-throughs, then you would bid on clicks. And if your objective was general exposure, you would bid on impressions.
One thing to keep an eye on is that, after a period of time and if you have a successful campaign, you may 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.
The secret to having a successful campaign and 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. Facebook is an excellent training ground to experiment with running ads – it is both inexpensive and easy to run.
Comment below your own experiences with Facebook Ads – I’d be very interested how it worked for you 🙂