Facebook is making it increasingly impossible for brands and businesses to reach their target market without spending a dollar. The following 6 reasons will show you why investing in Facebook marketing is a smart thing for your business. It’s trackable and we can target your ideal client.
It’s very rewarding building your following on Facebook, especially as a small business. The moment your numbers start pushing beyond the ‘people I know’ and ‘people I share mutuals with’ it’s a liberating time.
But what if I told you that on average, only 2.6% of the people who “like” your Facebook Page will ever see your posts? What if I told you that, on average, only 11.83% of that tiny percentage actually engage with your page? If you do the maths, you’ll probably be left with a significantly smaller number than those so-called ever-important Page Likes. These statistics are from a 2015 report, but the numbers are likely to be much worse today.
This is my favourite feature of Facebook ads; we can specify the age, gender, location, interests, earning bracket, education level, beverage of choice… we can even choose the time of day we want your ad to be shown throughout your campaign. We can also split-test audiences with different ads.
For example: you’re trying to sell an internship program overseas. You want both men and women at the internship program, but you know that men and women will engage differently despite the same application process. Facebook makes it possible to create multiple audiences in the same campaign, and multiple ads for each audience. We can track how each one is going throughout the day and decipher whether we need to add budget, edit copy or change the imagery. It’s incredibly effective!
Through the power of tracking codes we can track your users. We track the day they visit your website and we can follow them for weeks and weeks afterwards. These amazing pieces of code give us the ability to create specific audiences that we can market to.
For example: you’re advertising an event. We put the tracking on the landing page where you encourage users to register. After a week or so into the campaign (depending on how it’s going) we market to all the visitors who have been to your landing page. Then we can create and ad to show to the people who have been to your landing page but perhaps didn’t go through with the whole registration process. Then we write engaging ads that may address some of their hesitations with registration. We call this process ‘microwaving the lead so it’s nice and toasty’.
According to a 2016 report from Borrell Associates, nearly 80% of local businesses in America had a Facebook page, with 62% buying Facebook ads. Over 2.5 million US businesses are paying at least $1500 per year on Facebook marketing. Of course, this is only set to increase and the trend is very similar here in Australia.
It is predicted that by 2018, 23.46 billion dollars in America alone will be spent on social media advertising, and that excludes spend by marketers that goes toward developing or maintaining a social media presence. In 2017 it’s sitting at a comfortable 19.31 billion.
This is a huge statistic, and it means that a user’s attachment to their mobile device will be even more prevalent. If your business model is based on product sales, how are you going to position yourself in the right place, at the right time if you are not positioned right in the front of their little screens?
Return On Investment has always been difficult to measure. For television advertisers, how can they track how many sales they have generated because of their ad? If a customer decides to make a spontaneous purchase a week or two (or even months!) after seeing the ad, how can they be sure it was their ad that worked and not the many others they are running on other platforms?
Facebook gives us the cost per click and the cost per lead. Once you make your way through each lead, we can work out the cost per conversion. Once you’re got that, you can compare your spend with your return.
Of course, nothing’s this easy – but if you’re a small business doing a straight lead generation campaign, or shopping cart advertising (that’s a whole other kettle of fish), ROI can be achieved through essential data mining.
If you want to talk Facebook, feel free to give me a call. We’ve we’ve spent over $50,000 on Facebook marketing for a variety of companies and have learnt some incredibly effective methods of ensuring every cent is a worthwhile click. It’s a medium that must be explored, so feel free to reach out!