Effective advertising is one of the most daunting topics for any business owner. You know that you need to advertise your business to the people of Missouri, but how do you know that what you are doing is actually getting results? Enter: Facebook Advertising.
The massive amount of data that Facebook collects on its users makes it ideal for marketing. Facebook allows you to advertise directly to your target audience, enabling your ads to be placed in front of your most likely customer. The results of your ad campaigns can be easily tracked through the massive amount of data Facebook collects and makes available to you.
How Facebook Advertising Works
Facebook advertising is all about knowing your specific goals and targeting the right audience. When creating an ad the first thing that you will do is choose the ad objective. Your options are Awareness, Consideration, and Conversion. The marketing objective that you choose will tell Facebook what kind of people to put your ad in front of.
Awareness is exactly what is sounds like, making people more aware of your brand and reaching people that are more likely to be interested in what you have to offer.
Consideration includes options such as traffic, engagement, and messages. The goal under this marketing objective is to get people to learn more about your product or service by engaging with your content.
Conversion ads are intended to get people to take valuable actions such purchasing a product or booking an appointment.
Once you have chosen your marketing objective, you will need to determine who you want to target with your ad. To most effectively choose your audience, you must be deeply familiar with who your target customer is. You will need to define the age, sex, and location of your customer. This is also where you are able to zero in on the specific interests, behaviors, and demographics of the users most likely to become a customer.
Cost of Facebook Advertising
When you first begin an ad campaign, consider what you want to spend and how long you want to run the campaign. You can either set a lifetime budget for the ad, or a daily budget. This means if you are running the ad for 7 days with a total budget of $70, you can either tell Facebook to use the $70 over the 7 day period, or to specifically spend $10 each day.
Facebook ads are run on a bidding process. This means that you are essentially competing against all the other advertisements trying to reach the same people as you. You can set your ‘cost control’ to meet your specific cost goals, but we recommend leaving that blank and allowing Facebook to use your entire budget to get the most results possible.
Once you have set your daily or lifetime budget, you will see your ‘Estimated Daily Results’ such as ‘Reach’ on the right side of your screen. Adjusting your budget will adjust your reach accordingly. This is because Facebook charges you per impression. When someone meets your targeting criteria and is served your ad on their timeline, Facebook charges you for that impression, regardless of if they engage with your ad. This is how Facebook can predict your potential reach based on your ad budget.
Other Missouri Advertising Options
Mass media marketing such as radio and television are simply not viable options for a small to medium sized business that needs to optimize their advertising spend. Using these marketing approaches, you are unable to control who sees your ad, or track how well the ad is performing with any certainty.
Compared to other states, the cost for digital marketing in Missouri is anywhere from medium to high depending on the industry (notably high for insurance and legal). Given that mass media marketing has an inherent high cost, and getting clicks in Missouri is among the more expensive states to advertise in, it is necessary for Missouri businesses to ensure that their advertising dollars are producing an acceptable ROI.
Tips for Optimizing Facebook Ads
Create videos rather than banners. Videos receive a much higher conversion rate than simple images and text. A quality video catches the users attention and allows them to effortlessly be introduced to the message you want to convey. Video allows you to connect with the audience in a way not possible through text. Use your video to tell a story and encourage the viewer to take further action with your ad. It is also important to include transcription in your videos for people not using audio.
Produce quality content as frequently as possible. You want to stay in front of your target audience as much as you possibly can. No one ‘buys’ the first time they are introduced to a ‘product’. They must be moved through your sales funnel and be given time to see themselves using your product and trust your company enough to become a customer.
Don’t optimize for spend reduction, optimize for ROI. At the end of the day the goal is not to spend as little as possible, but to get the best possible results from the amount that you spend.
Hire a digital marketing agency to run your advertisements for you. Advertising should be looked at as an investment rather than an expense. The entire purpose of spending money on advertising is to earn more money than the advertising costs you. That is precisely our goal: to spend your advertising dollars as efficiently as possible with the objective of creating the highest possible return. If you are interested in what we can do for you, contact us for a free email consultation!