Facebook Advertising for Small Business
If you run a small business like a restaurant, flower shop, or dentist office you’re probably well aware of the benefits that can come from social media advertising. Everyone is on social media these days, after all. So it makes sense that your business should have a presence there as well. However, if you’re like many small-to-medium sized businesses, you may be frustrated by the process. Facebook has one of the most robust advertising platforms out of all social media websites. The cost per action and cost per acquisition on Facebook is (at the moment) significantly lower than Twitter, and it offers some incredible reporting. If you’re a newbie to social advertising, this may be a great place to start.
Facebook Advertising for Small Business
If you’ve had issues with Facebook ads before, it might be time to revisit the idea. Facebook has made massive strides in creating a better version of their advertising function. In fact, Facebook is now exuser-friendlyfriendly and will walk you through the process. You can choose between what you want to optimize:
* Website conversions – This is when you want for someone to click to your website and take an action. Requires a “conversion tracking pixel”.
* Gaining Likes on your page – Get more people to like your page so you can market to them.
* Website clicks – Get people to convert to your website.
* App installation – Gets people to install your app.
* Post engagement – Boosts your posts and increases likes, comments, shares, video plays and photo views.
* App engagement – Creates more activity on your app.
* RSVP’s to an event – promotes your event.
* Or claiming offers – Creates ads to promote an offer on Facebook. You’ll need to create the offer first.
Once you select the goal you have in mind, Facebook will identify the type of ad most likely to help you reach your goals. It’s still up to you to choose, of course, and you can even decide where the ad will go, either in the News Feed or to the side of it. Everything else is fully customizable as well, including the headline, text you use and the picture shown.
With your ad created, Facebook will allow you to decide who it will be targeted at. Options for choosing include gender, age, relationship status, language, interest, workplace and education. All these options make it extremely easy to focus your ad at the customers you want. If you are a restaurant on the Lower East Side of NYC, you may want to choose an audience of people from 21-50, both male and female, who live in New York City and in Brooklyn. If you’re a wedding florist in Hoboken, NJ, you may want to advertise to women between 23-45 in cities in Northern NJ. You will need to do some research into the demographics for your particular audience in order to properly target.
The best advice we can give you is to do “A-B Split Tests”. If you’ve never done an “A-B” before, start small, perhaps with two versions (A and B) of the same ad. Run them for a week and see which performs better. Once you’re comfortable with a simple split test, craft some more complicated ones.AB Splits will help you get the best price for the desired action. Need some ideas for AB splits?
* Age – use the same ad on different age groups
* Gender – use the same ad on different genders
* Image – use a different image with the same text
These are pretty simple, but once you play with these, you will get the gist of it.
Set your Budget
The whole idea is to gain fans and convert them into paying customers. Think about the cost of acquisition. If you are a restaurant, and it costs you $1.00 to acquire that fan, but that fan comes in once and spends $60-$100, then the cost was totally worth it. It is even better if the customer becomes a regular.
Facebook allows you to set a daily or lifetime budget. If you choose daily, that is the max that you will pay per day. If you choose lifetime, the ad will end when you reach that spend.
How much will you pay? It really depends on your competition, demographic, and time of year. Ads in New York city tend to be more expensive than ads in smaller New Jersey towns. Ads for doctors tend to be more expensive than ads for say a restaurant, and ads get more expensive during certain holidays such as Christmas and Valentine’s day.
You’ve created your ads, spent money, and now it is time to check the performance. Facebook has a pretty robust reporting engine that shows you conversion value, click through rate, and clicks. Check the performance of the ads and delete, edit, or ramp up those that are performing well.
Ready to get started? Go to Facebook’s Advertising Center