If you have been wondering how to grow your business with Facebook Ads, then you are in the right place! Entrepreneur, public speaker, mentor, and dedicated leader, Jack Porter-Smith is the managing director of WSI Paid Search and recently hosted a webinar explaining the rewards of Facebook Ads. You can watch the full webinar here, or read further to get our full webinar recap.
Who Can Grow with Facebook Ads?
Hard objectives such as leads, online sales, or donations can be driven by Facebook Ads. Softer conversion types such as event registration, newsletter sign-ups, and downloads revolve around brand consideration. Facebook Ads are a great way to get people onto your mailing list.
Not only can Facebook Ads do anything, but it can do it for anyone – be it B2B, B2C, NFP, or anyone in between. Because Facebook is such a human-based platform, its appeal is universal. With 2.85 billion active monthly users, Facebook is definitely hosting your target audience – no matter how niche. Need more proof? There are 10 million active advertisers using Facebook to promote their products and services – not a likely figure if their advertising did not deliver.
While the success stories we can attest to speak for themselves, there are various provisos you need to be aware of:
Facebook aims to prevent discrimination and support civil rights by limiting ad targeting for housing, employment, and credit ads. (This is, however, offset by cheaper ads. Greater creative emphasis will make these ads as effective as nuanced targeting.)
iOS 14+ impacts as Apple battles with Facebook over privacy levels. The key to overcoming this – and the changeable digital marketing environment – is to adapt, implement workarounds, and move forward.
How Do Facebook Ads Work?
There are three core components to Facebook Ads:
- Ad Targeting. Using a target persona (detailing your dream customer), you can pinpoint their commonalities (demographics, interests, behaviors, and so on). Facebook Ads will then use that information to find more people like that for you. Moreover, you can upload an existing list of contacts for Facebook to find within the platform so that you can serve ads to them – or even similar matches to the contacts on your list!
- Ad Formats. Most of Facebook’s revenue comes from ads on their mobile app. But you also get access to their other businesses - Messenger, Instagram, and WhatsApp. Wherever your ad is seen though, put thought into what you want users who engage with it to do:
- Visit your website
- Chat via Messenger
- Call you
- Like your page
- Fill out a lead form within the ad
- Tracking. Configure your site or app with the right codes to measure:
- Traffic data like impressions, clicks, views, frequency, and CPC
- Conversions to leads, calls, purchases, downloads, or even your e-commerce revenue
- Site funnel behavior for things like abandoned carts or baskets.
- All of this determines your ROAS (return on ad spend) which is the revenue generated through advertising divided by the cost of the investment.
How Much Should I Spend on Facebook Ads?
The short answer is $30 - $60 per day.
Now for the long answer. This amount is sufficient for you to get started and gather data. From that, you can see what elements are profitable (and which are not) so that you can progress.
The lifecycle is made up of three 30-days cycles of predicting, repeating, and scaling. Contact your local WSI digital marketing consultant for a detailed graphic on these phases. Only after this 90-day discovery period should you increase your Facebook Ad spend.
For the ultimate results and ROI, WSI’s secret weapon is to combine a messenger CTA with chatbot automation to vet the quality of leads before they’re passed on to your sales team.
What is the Difference Between Facebook Ads and Google Ads?
Google ads serve the demand for those who are searching for what you have to offer. However, because demand is finite, Facebook ads create demand by putting your ad in front of people who don’t yet know they want what you have to offer!
If you are keen to grow your business with Facebook Ads, get in touch with your local WSI digital marketing consultant without delay! And of course, make sure you catch up on the full webinar below: