Before social media, marketers and advertisers relied solely on two sources of advertising to help drive additional brand awareness and revenue. Paid search and display media used to be the most popular forms of advertising that helped expose any brand to a potentially new reach of customers. The downfall of these two forms of advertising is that you are extremely limited to how well you can target your desired demographic. Often, advertisers would find themselves wasting dollars on either clicks or impressions from users who had no use for their product or services.
Facebook advertising is no new concept, however it has surely flown under the radar to the lesser experienced marketers that have been on the hunt for a new outlet to reach potential customers. When you sign up for Facebook advertising, you put the power of a users information right at your fingertips. Facebook collects information from users and allows you to target by any number of features that users input. Demographics, interests, and buzz words in general are just a few of the techniques you can use to prevent your ads from showing up in front of people who have no use for your brand. Furthermore, by creating catchy ads that feature captivating images, you can drive an exceptional amount of traffic from users who have never even heard of you and the quality product or services that you offer.
One of the key features to remember when you sign up for Facebook advertising is that you won’t necessarily be breaking any bankroll or sales records. Facebook should always be considered a channel that is meant to initially drive brand awareness to your brand and what you offer. Most businesses report an extremely low conversion rate when it comes to social media advertising, but are happy to report that their engagement with their target audience has increased significantly.
Another point to remember is that with Facebook advertising, you’ll most likely see a very poor click through rate on your ads. While this can be discouraging to you, it is in no way a problem that only you are seeing. It’s not uncommon to see click through rates as low as 0.025% on any Facebook campaign. Do what you can with the limited text and thumbnail that are provided for your use and make sure to weight out your costs properly to determine whether paying by the click or by CPM (1,000 impressions) is the better strategy for your company.
Is your company using Facebook Ads to brand your business on the biggest social network? Why or why not?
About Alan Moore: Alan is an Internet Marketing Consultant with ReachLocal Baltimore. His mission is to help you increase your revenues and decrease unproductive advertising expenses through proven, online marketing strategies. He manages over $2,100,000 in yearly marketing budgets and has worked with local businesses, agencies and the US government. Give him a call at (877)655-3438 to schedule a Free Online Marketing Consultation.
To read more of the article that inspired this blog, please visit: http://mashable.com/2012/04/16/facebook-ad-tbg-digital