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Effectively Utilizing Facebook Audience Insights for Better Advertising
Posted on June 4th 2014
This morning when I logged onto Facebook and glanced up in the right-hand-corner at the overview of my running Ads, I saw this:
“Your Ad Set is Performing Well. Your ad set’s cost per Event Response of $0.59 is less than 90% of similar ad sets.”
Well, thanks, Facebook! In reality, the Ad Set was running at just under $0.50, but I’ll take the congratulations all the same. Upon researching what ‘similar ad sets’ means, I found that a specific Event Ad Set that I have running is performing exceptionally well as compared to Event Response Ad Sets running through other Companies and Organizations on Facebook. I’m not going to lie, it was a bit of a boost to my confidence to see that a small town Facebook Marketer like myself is running ads that top some of the biggest and best brands on Facebook.
What Is an Event Response Ad?
An Event Response Ad is exactly what is sounds like – Facebook Advertising to promote an Event that you’re page is hosting (preferably hosted from your Facebook Business Page). While Facebook Advertising for Event Responses do run a bit more costly then Page Like Ads and Engagement Ads, you can successfully lower costs by utilizing Facebook’s new Audience Insights. Here’s how…
Effectively Utilizing Facebook Audience Insights to Lower Ad Costs
I LOVE Facebook Audience Insights for so many reasons. Just the other day I was having fun simply researching the Facebook Demographics of my small town – Gilbert, AZ. The amount of information that you can gather from Facebook Audience Insights is truly remarkable, and, if used effectively, the benefits from this new tool are quite limitless. Case Study: For the specific Event Response Ad that I developed which ran at better than 90% of the competition, I turned to Facebook Audience Insights to target the perfect demographic.
The Event is titled 30 Day Heart Healthy Challenge, and is aimed at getting older generation users to maintain heart healthy practices for an entire month. The goal is ultimately to redirect these users to EraseDisease.com, a client website which promotes healthy living. The target audience is Baby Boomers - simple, and yet difficult to engage. According to Facebook Audience Insights, there are approximately 35 to 40 million monthly active Baby Boomers on Facebook across the country. (I targeted US only).
Pro Tip: It’s extremely important to make sure that whenever you’re running advertising you’re extremely focused with your location targeting. You DO NOT want to end up attracting bots with unfocused advertising.
Baby Boomers on Facebook are 61% female, only 39% male. Their favorite Facebook Pages include Mitt Romney, Conservative Daily and FreedomWorks. Baby Boomers on Facebook are 33% more likely to have a Household Income above $125,000, and are 30% more likely to make Purchases in the Home and Garden category.
All of this information, and more, is very telling, and can be used to target Baby Boomers with effective advertising.
The ad that we’re currently running is simple – join our 30 Day Heart Health Challenge. The message that we used in targeting Baby Boomers is also simple – Gardening and home projects can improve heart health. Join the Challenge & learn more.
And the targeting, at least for the initial launch, remained simple: Generation: Baby Boomers Interests: Home and Garden That’s it, and with a targeted demographic, a great visual, and a strong, and relevant, call to action, we are currently running these Event Response Ads at just $0.44 Per Event Response.
The key to all forms of Facebook Advertising is targeting, and if you’re not effectively utilizing Facebook Audience Insights you are throwing your money away.