Facebook advertising could well be a bane or boon depending on the modality and effectiveness of the method and strategy adopted. The most critical being the campaign budget monitoring. There are many benefits of Facebook for business.
To further elaborate, while the advertising campaign needs to attain visibility, the question to ask is ‘at what cost’. The typical beginner makes the mistake of spending too much too quick and what should have been a boon to the advertiser makes facebook rich and the advertiser goes broke!
The strategy lies in adopting Facebook advertising tips which would go a long way towards enhancing the effectiveness of the advertising campaign at an optimal cost:
The advertiser makes assumptions, and launches a campaign based on these assumptions which may not be real time. The solution lies in testing the ads by splitting different components and evaluating the response.
To illustrate the case point, determine what the ad copy says. Does it say ‘like me’? If so, then the ad works and the response would be impressive. On the contrary if the ad image is boring (for example, an ad directed towards women products using shades of grey), it would meet a lukewarm response. Now all that needs to be done is to switch the grey for pink, and the response rate is enhanced dramatically. The reason is self evident: pink is a color that women respond to favorably – a leaf out of consumer behavior.
It is critical that one identifies the target audience for the ad. If trekking equipment is the product, the target audience would be in the age group of 18-34 and predominantly men. Ad clicking would be more frequent as this is an impulsive and passionate group. The converse would also hold true. If the product is insurance underwriter’s technical forum, the audience would be a cautious group which is averse to frivolity of clicking ad images per se. And don’t forget, you can always purchase Facebook likes to lure your audience.
The active advertiser is invariably more effective as compared to the passive one because the latter launches the campaign and lets it run incessantly. The name of the game is to launch a ad campaign and then monitor the daily CTR closely because the conversions come from the first wave of visitors and subsequent waves have a much lower CTR. Alternatively the ads loses the ‘freshness’ index over sometime and it is here that the smart campaigner responds by quickly switching ads rather than running a mundane campaign.
An ad at any point of time would exhibit variations depending on the time of the day or day of the week. There could be ads which perform better during the mornings as compared to late evenings. It is here that the advertiser would like to manually turn ads on and off. This is a futuristic model considering that presently facebook does not allow and advertiser to determine the time of day when the ads would be displayed. This is one control which is on the cards and would be reality in the near future. Keep this one for the future!
Those with an objective of developing more fans using the ad campaign would need to cross leverage a ‘win – win’ situation for all. To illustrate, there could be promise of some path breaking remedies, but first the visitor needs to become a fan.
The crux of this insight being that if getting more fans is the objective and if one integrated platform is required, there is none more powerful than an effective facebook ad campaign.
Concurrently if an effective facebook ad campaign is to be run – it needs to be monitored by ensuring effective ads and not squandering money on less effective ads by adopting some or more of these tips! So help us monitor the usefulness of our blog. Leave your comments
Coming up next, some tips to setup a Facebook business account.