On Facebook’s tenth birthday the platform boasts more than 1.9 billion active users, with 802 million people logging in daily and five new profiles created every second. The massive and diverse audience makes the social media channel a goldmine for businesses. Any good marketer knows you need to reach your target audience where they spend their time and the statistics tell us that for the majority of businesses that is on Facebook. How can you ignore a platform your grandma, cousin, the postman and your dad all use .
There are now more than 30 million brands using Facebook to connect with their target audience. And with the increased popularity of the platform and fierce competition for consumer attention, Facebook is moving towards a pay to play model, makingFacebook advertising crucial to your digital marketing success in 2014 and beyond. Whilst Facebook’s efforts to make us pay to reach their audience has left a lot of marketers scathing – I am not too concerned because in terms of ‘bang for buck’, Facebook is more cost effective than any other advertising medium:
Today, I am going to let you in on 3 proven Facebook advertising strategies that will help you maximise your social media return on investment.
Let’s put our consumer hat’s on for a minute. Why do you log in to Facebook? To enjoy the advertising? I would place a safe bet to say the answer’s no. You log in to connect with friends, be entertained or source valuable information. Therefore, what advertisement would get your attention? One that was delivered in context with the user experience (a news feed placed ad) or one on the peripheral of the page (right hand side ad). With any advertising the first aim should be to get the consumers attention and to do that you need to deliver advertising in context with the user experience. Remember, no matter how good your ad is without the consumer’s attention you have nothing!
Also, news feed placed ads are the only ad type that appear on mobile devices. With mobile internet usage surpassing desktop internet usage by the end of the year- Mobile optimised ads will play a huge role in your Facebook Advertising Success.
Facebook’s new custom audiences feature allows you to deliver advertising to prospects that you already have a relationship with elsewhere. You can upload email lists, phone number lists, Google+ circles, app user or Facebook Id’s and serve targeted advertising to these consumers. As email open rates are declining, uploading your email list and serving advertising through Facebook can be a perfect way to regain these consumers attention. Remember, attention is key, without it you are marketing to crickets.
Another effective tool within custom audience’s is Facebook’s remarketing feature. Once you install the Facebook remarketing Pixel on your website you can build custom audience’s based on your website visitors activity, which you can later use to serve ads too.
Remarketing to website visitors who have abandoned the sales or conversion process delivers exceptional results – if it’s done properly. For successful Facebook remarketing the key is to provide a compelling reason for the consumer to complete the sales process, whether that be a discount or a special offer. For example, an online fashion retailer could serve a news feed ad with a free shipping or discount code to those who have “abandoned cart” on their website. If you think about the psychology of why someone will abandon the sales process at the checkout, it is usually price related.
Source: Marine Software: Marine Software Social Media Index Q2- Q3 2013
If you frequent Facebook I am sure you have been overexposed to an advertisement before. Eventually you become that frustrated by it you will go out of your way not to buy from that company (this is the extreme). The technical term for this is ad fatigue – meaning there is an optimum “ad frequency” you should expose your target audience to and anything over this will have a negative impact on your brand. It is important to also understand that if you over expose your target audience to advertising, click through rates will drop (Percentage of those exposed v those who have clicked) and Facebook will only keep an advertisement in its newsfeed with high click through rates, thus impressions (eyeballs on the advertisement) will naturally suffer.
The solution is creating an ad rotation strategy to keep ad creative (images and ad copy) fresh and click through rates high. As seen below, the two most important metrics to monitor are frequency and CTR’s. As frequency (the average number of times people saw your ad) increases and CTR starts to drop dramatically you should change the ad. As a rule of thumb you shouldn’t let ad frequency get over 5, but you should monitor the relationship between CTR and Frequency and set a standard for ad rotation within your company. This standard may change from campaign to campaign.
There is no doubt that Facebook is moving towards a pay to play model, but you would be silly to abandoned ship over a couple of bucks a month. The Facebook audience is too big to ignore. Get more strategic with your Facebook advertising, deliver fresh ad creative, optimise ad’s for the mobile experience, provide valuable content and deliver advertising in context with your sales funnel. The tools Facebook gives you surpass any other platform. Use them wisely and remember doing business without advertising is like winking at a girl in the dark, you know what you’re doing but nobody else does.
What Facebook advertising strategies have you seen most success with in 2014?