Facebook has over 2.9 billion monthly active users worldwide. Despite increased competition from other social media platforms such as Instagram, Snapchat, and TikTok, it remains a popular platform.
Today, Facebook is still one of the most important platforms when it comes to selling products in the company and spreading knowledge to various target groups. What makes Facebook truly unique is the ability to play on multiple platforms, including text, image, and video. This opens up a wide range of tools for capturing the attention of a large target group. Simultaneously, there is an extremely high level of communication on Facebook, where users can share, tag, and comment. Overall, you can say that Facebook ads are very much alive.
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Before you begin creating your ads, you must first develop a strategy. As a business, you must determine what the specific goal of the advertisements is. Is the goal to make a sale or to expand the customer base? Next, you must be able to put yourself in the shoes of the customer and the customer journey that they have begun. Every single customer goes through a variety of stages and has a variety of questions along the way. You must base your advertisements on these phases and questions.
A Broad Algorithm Generates The Best Results
Facebook gives you a plethora of options for customising and targeting your ads. Is this, however, always a good idea?
It all boils down to having a relatively broad algorithm. Here, Facebook’s algorithm is given as much data as possible to play with. This will produce the best results in the end. So, don’t think you’re smarter than Facebook – instead, let the algorithm win. This is especially true if you need to scale your ads a lot and relatively widely. Facebook must have conversion data to analyse.
That is why it is recommended that you have 50 conversions within seven days, so that the algorithm has something to work with and can better target the target group.
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Small Business With Little Data?
Do you own a small business with a limited advertising budget? Then it pays to narrow the target group, as you are more likely to reach people who are interested and eager to buy.
Make use of the information you already have. This is where the money is first and foremost well spent. Some may already visit your website and interact with your Facebook profile. It would be obvious to create a target group based on these. They already know your company and are thus naturally further along in the purchasing process. It is always cheaper to use the amount of data and customers that you already have – as a result, it is the most cost-effective method of increasing sales. Do you believe you lack sufficient data? Then you can be confident that Facebook will continue to guide you in the right direction. Don’t be afraid to let Facebook choose the target audience for you.
When The Ad Spend Goes From THB 20,000 to THB 500,000
It undoubtedly pays to increase your Facebook marketing efforts. As a result, you will get more bang for your buck. However, if you want to maximise your budget, you must ensure that your target group is relatively large. If the target group is too narrow, the cost per conversion will be far too high in comparison to the return on investment from the ad.
Next, it is critical to replace the ads on a regular basis to keep the target group interested. As a result, make it a point to constantly create new content for Facebook. However, keep in mind that you should not add more money to the funnel if it is already full. As a result, you must have a large enough target group to support the budget. If necessary, look for new markets in other countries.
Remember to create separate campaigns for your new and existing customers.
- Facebook is incredibly effective at identifying the right target audience and those willing to buy. As a result, always trust Facebook.
- Make sure you have a relatively broad target group so that Facebook can find people who are interested in making a purchase.
- First and foremost, spend money on people who already know you.
- Get great results by constantly optimising and replacing ads.