Facebook advertising can be a gold mine of revenue for some, but most are discouraged by its somewhat unintuitive interface. You do not have to be that person. You should not be the one to make the decision. If you are willing to invest the time and money into learning Facebook’s platform, advertising on Facebook is relatively simple. While online courses are useful, real expertise comes from hands-on experience: lots and lots of it.
You will have difficulty with Facebook advertising if you are not willing to dedicate the necessary time, or if you are seeking immediate results and are only using the bare essentials. Taking the time to learn Facebook advertising can not only be extremely lucrative, but it’s also essential if you want to set yourself apart in the increasingly competitive digital environment.
It is fortunate for you that there is no shortage of gurus, teachers, and bloggers who claim to possess “expert advice” and “ninja tricks” regarding how to make Facebook advertisements work for you. Unfortunately, it may be difficult for you to cut through the noise. The following is an attempt to lay out only what we are certain works, and what we are certain does not work.
In light of the fact that nearly 1/3 of the entire world’s population has an active Facebook account, it is hardly surprising that advertisers salivate at the prospect of bringing their products and services directly to the target market. The pot of gold at the end of the proverbial rainbow, however, is precisely what makes it so difficult to compete: If everyone is competing for the same audience, how can you achieve a high click-through rate?
The majority of people approach Facebook ads in the same manner. It is common for users to log on to the ads manager platform, experiment with some loose targeting campaigns, and then sit back and wait for the money to come in. They consider it wasted money when they receive no clicks and no revenue.
If you have tried that before, do not give up. Advertising on Facebook does not have to be difficult. If you understand how powerful it can be, it can actually be quite exciting. In spite of this, those who tend to give up tend to fall into one of several categories, such as those listed below.
In order to avoid the number one fear of losing money, some people always set their ad budgets low. You do not have to worry about that when you are just beginning a new advertisement; most marketers recommend starting with a five-dollar budget per day unless you are in a highly competitive market.
When you never increase your budget, or conversely, when you increase it too quickly, you have a problem. As you begin to see results, it is a good idea to increase your ad budget by about 20% every week or two. If you refrain from raising the budget for fear that you will spend more money than you receive, you will not be able to achieve the kind of exponential growth that can be achieved with Facebook ads.
There is no easy way to say this: you will lose money when you advertise on Facebook. There is no doubt that you can lose money, whether it is during long periods of experimentation where you are learning how to use all the right buttons, or when you are starting a new campaign with a new audience.
Nevertheless, you do not have to lose money all of the time to succeed. In fact, after you have overcome all of the rookie mistakes and those initial campaigns where you are testing different ads, you should see a significant increase in both the direct product revenue and auxiliary sales. It is important to note that up-charges, lead generation subscriptions, and even traffic to your website may offer additional revenue sources that you may not have considered.
If you wish to reap the real rewards of Facebook’s ad platform, you must be willing to dive into the data they provide. In order to effectively market your advertisements, you must understand what age group is responding to your ads, what locations your ads may be appropriate for, as well as what type of devices people are interacting with your ads on. It is impossible to achieve success without it.
It will be extremely challenging to run Facebook ads in the future if you do not use the data, primarily because you claim you are not technically savvy. However, if you are willing to get your hands dirty, you will gain insight into all the wheels behind the Facebook ads platform and be able to use it to your advantage.
It is so easy to use the “boost” button, isn’t it? With only a few dollars, Facebook allows you to reach a certain number of people with its advertising. In many cases, marketers will click the “boost” button and watch in awe as the “number reached” continues to increase.
What the “boost” button does not do, however, is provide you with any concrete data that you can use to build their campaigns. Furthermore, it does not provide any information regarding conversion rates, click-throughs, or demographic information that would allow you to determine what type of audience you are targeting. Your only realization at the end of the process is that your ad has been displayed on a certain number of screens, and you owe Facebook money as a result. To put it mildly, it is infuriating.
Knowing and using these different campaign types based on your specific audience type can make all the difference. Lead generation ads are great for building your mailing list, engagement ads are great for getting likes and comments on your posts, and conversion campaigns are great for getting people to make a purchase. You will never be able to know your audience as well as Facebook. Take advantage of that.