How important is Facebook for your business? – Part 1
We’re nearly at the end of 2016, yes, I know, it’s flown past, and if like myself, you will be looking at the different aspects of marketing for your business going in to 2017 which should include Facebook Advertising.
I think it’s very important for every business to ‘Drink their own Kool-Aid’, and naturally I have to assess what we are going to do with our marketing in the business. Which moves me on to our main topic; Facebook Advertising, just how important is it for your business? Because there is a huge amount of ‘awesomeness’ I will be going through, I will be splitting this topic over 2 posts.
Lets get cracking……
On February 4th, 2004, Mark Zuckerberg launched ‘The Facebook’, the social network for students with a Harvard University email address. During 2004, Facebook started its advertising service by the means of ‘Flyers’ and ‘Flyers Pro’ where the main source of promotion was for social events on the college campus, and it allowed users to set a maximum amount that they were willing to spend on the advert, a fairly basic system in comparison to the arsenal of tools that are available now and moving in to 2017.
In 2007 the Facebook Advertising process started to evolve and the Facebook Ad’s platform was born, this all happened along side the birth of ‘Facebook Mobile’ and transformed the way that Adverts could be served. Over the next 9 years a huge array of advancements took place, such as Facebook Pages, Advanced Targeting, Sponsored Stories, Social Graph’s and Custom Audiences.
"Advertising works most effectively when it’s in line with what people are already trying to do. And people are trying to communicate in a certain way on Facebook – they share information with their friends, they learn about what their friends are doing – so there’s really a whole new opportunity for a new type of advertising model within that."Mark Zuckerberg - Facebook
So what does Facebook Advertising look like now in 2016 and going in to 2017?
With over 1.1 Billion active users on Facebook of which over 84% are outside of the U.S.A and Canada, the Ad’s Platform has now become an essential tool to help market your business in the digital world of marketing. Facebook offers powerful and unique ways to show the adverts that you create, to the people who are most likely to have an interest in your business or service(s). With adverts, you can reach people based on their location, age, gender, interests and much more. You can use the built in tools to help understand how your adverts are performing and make them even better!
- Create adverts based on your business goals and campaign objectives
- Tell Facebook who should see your advert
- Create high-quality adverts that have an instant impact, and take advantage of the tips and tricks that Facebook provides.
- See details of exactly how your advert is performing with regular updates from Facebook, such as how many people have viewed your advert, how many have engaged with which particular advert and more.
- Determine the goal for the type of traffic you wish to receive
Facebook gives you clear options on what you would like your marketing objective to be for your advert campaign, do you want to raise Brand Awareness, get traffic to your website, gain video views (we’ll touch on video in part 2), sales, conversions and more.
So how does Facebook Advertising help my business?
As with most businesses, you will already have a database of email addresses, of either current, past or potential clients. Facebook allows you to target these potential customers via its ‘Custom Audiences’ tool. Yes, really, you can have a second bite of the cherry with your current database. Facebook allows you to upload your database in to its advertising platform to which it will then serve your advert to these customers if they are on Facebook, and more importantly all the data is secure.
Now lets turn up the ‘awesome’ a bit, Facebook also allows you to create ‘Copy-cat’ audiences who have the same interests as your current database, so it will automatically track the relevant data from your database and find those potential new customers on Facebook. Because Facebook allows you to create this copy-cat audience, it takes some of the leg work out of getting your business or service(s) further reach and in front of people who are similar to your database.
But… uploading your current database and running a copy-cat audience isn’t the only trick in the box. Facebook Ad’s gives you creative control over your advertising, lets say you have run an advert for a week, and you suddenly feel that you don’t like that advert anymore, or you don’t feel that it is performing as well as you would have liked, Facebook is not like print where you would have to pay for a new print run of 1000+ flyers – you have the flexibility to change your campaigns, images, text and more with just a few clicks, all this allowing your campaign to not suffer from something I like to call ‘Advert Fatigue’.
How do I know its actually helping my business?
Facebook doesn’t accept anything less than real in-depth analytics on your campaign. Allowing you to see your advert engagement, cost per result, conversion rates, the users age range, gender and more. So it gives you a clear indication if the advert is performing.
But how much does Facebook Advertising cost?
The long and short of it is, that Facebook advertising costs as much as you want it to cost. It allows you to set your budget on a daily or lifetime basis and the analytics insight system shows you exactly how much it has cost per engagement. You can spend as little as you like and still get results, this obviously goes without saying that the more you spend, the greater the results will be, and the greater the results will be, the greater the R.O.I will be. Facebook also kindly gives you an indication of the approximate audience reach you will receive while setting up your budgets.
Part 1 Conclusion
If you are looking to increase website traffic, conversions and lead generation, Facebook Advertising is something you definitely need in your arsenal of marketing tools.
I hope this has got the cogs turning and given an indication of just how important Facebook Advertising is for your business, and we haven’t even got to the juicy stuff yet! Check back on Monday to find part 2 of this topic where i’ll be going through some of the most exciting parts of Facebook Advertising, including Facebook Pixel and how it works, and specific location targeting for your Facebook Advert. Instagram user?…. I’ll go through how you can tap in to the world of Instagram and the 500 Million monthly users for your Ad Campaign in part 2 as well.
See you Monday!
Read Part 2 here