As organic reach on Facebook continues to decrease, it’s interesting to see so many companies still hesitant to make use of Facebook’s range of advertising options to make connections with new and existing audiences, boost brand awareness, increase conversions and promote offers. With low risk and high rewards, what’s holding businesses back?
Facebook now boasts over 1 billion users across the globe and a penetration rate of over 58% in the UK - that’s equivalent to 31 million users. This is the fourth highest number of Facebook users in any country in the world.
What’s more Facebook benefits from a wealth of consumer data. Users actively and willingly (although not always wholly consciously), supply in-depth details about their lives, their hobbies and interests, their location, the companies and brands they like, the products they use, the services they need, their frequent haunts and much more. So, it’s not difficult to grasp the level of segmentation and targeting, as well as insights, present within Facebook’s advertising network.
Facebook even let’s you import data from your existing databases to locate your existing customers/prospects on the channel and build ‘lookalike’ audiences – those who have similar features to your existing customer base, thus are more likely to purchase/convert.
Building compelling ads and testing them is integral to your success on Facebook. Think descriptive, relevant, targeted, eye-catching and succinct (throwing a picture of a kitten or puppy in there never hurts either!). Test different variables of your ad (although remember best practice and only change one variable at a time), using different imagery, different calls to action, etc. Importantly, make sure your ad tells the user what they can get from clicking on that ad, i.e. is it a discount, access to exclusive content, entry into a competition, etc.
Further to this, Facebook advertising is built to drive ROI and be low risk. Real-time measurability and budget settings mean you are in complete control of how and where your advertising money is spent and you can stop, or reassign it if you feel it is not working efficiently. By matching your ad bid type to your campaign objectives, you build more effective ads that are more likely to reach the people you want to talk to.
With a large connected consumer base and vast and detailed user information, Facebook is a marketer’s dream.
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