Facebook is the world’s largest social media network, boasting a jaw-dropping 1.3 billion plus monthly users. While many people assume it’s only useful for sharing personal comments, it’s also a powerful marketing tool that business owners can use to promote their products or services. The company’s self-serving advertising platform, Facebook Ads, can bring tons of new customers to your business. Here’s how.
The Scoop on Facebook Ads
You might be wondering why anyone would want to pay to advertise their products or services on Facebook in the first place. After all, can’t you just create Facebook page and do it for free? This used to work quite well in the past, but the social media giant has since altered its software to limit the number of “promotional posts” displayed in users’ feeds. In other words, very few people will actually see your page advertisements.
“Beginning in January 2015, people will see less of this type of content in their News Feeds. As we’ve said before, News Feed is already a competitive place — as more people and Pages are posting content, competition to appear in News Feed has increased,” said Facebook in a recent announcement. “All of this means that Pages that post promotional creative should expect their organic distribution to fall significantly over time.”
Ads vs Boosted Posts
When advertising on Facebook Ads, you’ll have one of two different ad choices from which to choose. You can use traditional text/image ads, or you can use boosted post ads. Traditional Ads are custom created by the advertiser, specifying the text, image, URL destination, etc., whereas boosted posts are essentially Facebook posts that are boosted to encourage greater visibility. Keep in mind that boosted posts are only shown to users who have liked your page, as well as friends of those users. This can be a huge drawback if your page only has a handful of likes.
CPC and CPM Models
One of the many perks of using Facebook Ads is the simple face that you can choose from either cost-per-click (CPC) or cost-per-impression (CPM) format. CPC, as the name suggests, is when you incur charges for each click to your ad, whereas CPM incurs charges for every 1,000 impressions. There’s really no single best model, as each one has its own pros and cons. Feel free to experiment with both CPC and CPM to see which one is best suited for your particular needs.
Targeting, Targeting and More Targeting!
Targeting plays a key role in the success of an online ad campaign, and Facebook Ads is no exception. Thankfully, this is an area where the social media’s ad platform thrives. Advertisers can narrow their targeted audience down to a specific demographic to boost their ROI. Some of the different targeting options include location, interests, behavior, education, connection and more.