Recently I’ve spent a lot of time analysing the benefits and mechanics of Facebook Ads, and I’m impressed…
Facebook ads expertsWhat a neat little game to play. You plug in a few quarters a day and you watch the numbers explode (after all, if you’re not launching a product, or executing a major campaign, you really don’t need that much money to play this game).
You see, I’ve noticed that there are many different types of Facebook Ad users, and most of them don’t count. The ‘get rich by advertising things on your many blogs’ people may be experts at generating many pennies per hour, but all they’re not really selling anything themselves, they’re just making money off the ads on their blogs, websites, etc… So they don’t count, what they do is not really marketing, it’s more like swindling, or playing the system. (Exception made for those excellent bloggers who actually contribute to their industry by providing fantastic content!)
I’ve been exploring the B2B aspects of Facebook Ads and couldn’t be more pleased with my findings. For about 3$ a day, a business can reach more targeted clients, get more exposure than through any other medium. It’s a great thing to have running in the background as it constantly works for you, day and night, worldwide if you so desire.
There are basically 3 things to watch out for:
1: The Facebook Ad Itself
It’s a little thing, inconspicuous, simply hanging out on the right side of Facebook pages, travelling the world, waiting to be clicked. You have four things to figure out. Destination URL, title, picture, body.Destination URL: Where people will end up if they click on the ad.Title: You have 25 characters to write a catchy title.Image: Optimal at 110x80px, use a png-24 format for best results, but any format will do.Body: You have 135 characters to write your message.
2: Targeting your Facebook Ad
Nothing could be more simple. You can literally target Canadian CEO’s between the age of 45-55, on their birthday, between 8PM and 9PM, who work in the cosmetics industry, who like Buffy the Vampire Slayer, puppies, and cheese. I mean, there are no limits to how ‘tight’ you can get. If you want to target only the management of specific businesses in your area, no problem! I mean, it’s an incredibly powerful tool, as long as you don’t flail about randomly…
3: Optimising your Facebook Ad bidding
You have 2 choices, to pay for each click (CPC – Cost per click), or to pay for each 1000 displayed ads (CPM). Hmm… I’m using too many marketing terms again. Let me rephrase: It all depends on what you want to accomplish. If you want to spread the word, there’s a way of doing that, if you want to get people to come to your website or to a specific page on your website (or any other website), there’s a way to accomplish that as well.
Facebook will suggest a minimum bid for you (either per click, or per 1000 impressions of your ad/message), but let’s be honest, when you’re shopping for a car, what the dealer suggests and what you’re willing to pay are two different matters. Same with Facebook Ads, a little digital haggling is involved.
In this example Facebook is suggesting $0.75 to $1.12 USD… Notice that I have mine set at approx 25% of that. I’m paying 20 cents and it’s working just fine for my needs. If I were to bid $1.12 USD, I’m sure I’d be able to blast my message across my targeted profiles like crazy, but then again, that doesn’t fit into my personal strategy, so slow and steady for me, but for others, fast and furious would work better, it all depends on what your goals are.
Here are some real world results that still make me giggle with unbridled glee.
Facebook ads case study
In 3.5 days, for today is still not over, I’ve managed to display my ad 52,393 times for 10.57$!
Where else can you get that kind of exposure? Plus, and a big plus it is, it was shown only to a very specific micro-segment of the population, the absolutely perfect segment of the population for my product, and without Facebook, there would be no way to reach such a remote and specific profile of people.
You might also notice that the average cost per click varies per day.
On the first day, I started at 27cents and made my way down until I found the sweet spot between budget, timing, and efficiency. On the second day, thanks to a little fiddling, I managed to increase clicks and impressions while lowering my cost per click.
On the third day it was even better, think about the math. 12,185 impressions and 9 clicks for 1.38$… As a projection, double the dollar figure (2.72$) and we’re still below the previous day’s cost, and if we would double the results as well, we’d end up with 24,370 impressions and 18 clicks!
So, for B2B marketing, I give Facebook Ads two thumbs up and a Like!
Really, if you have a business, especially a B2B business, this is something you should not ignore or pass up. Think about it… A full page ad in a magazine is, what, 4-5-6 thousand dollars (plus the cost of designing the ad)? And you reach… say… 25 thousand people? I’ve doubled that for 10$.
As part of a complete and integrated marketing strategy, Facebook Ads are a game changer in the B2B industry.