by Evan Tsai | Last Updated on 07.8.2020
Digital tools and technologies have created tantalizing opportunities for businesses to grow and scale. That being said, some tools are especially powerful if you are growing a business on a limited budget. One of the tools is Facebook Ads. They continue to be an extremely effective tool to grow your audience, find new customers and increase your bottom line.
To further explore the topic, Sam Beiler shared his insights and experiences on Facebook Ads in a recent episode of the Small Business, Big Growth podcast. Ultimately, there are many actionable steps that you can take to implement Facebook Ads for your business and obtain a positive ROI.
Before getting into the how, however, we must focus on the why. After all, there are plenty of digital tools that can spread the word about your business. Like those other tools, Facebook Ads have pros and cons.
One of the clearest benefits of Facebook Ads is the massive ROI. You can put in a few dollars and start to see a promising return—no matter your objective. Facebook Ads are also scalable. They have a huge audience and are displayed in front of an extremely active social network. Finally, Facebook offers terrific branding opportunities. You can do everything from creating a sleek video to sharing a stunning photo with a compelling caption.
As for the cons, Facebook Ads are not intent-based ads. In other words, Facebook doesn’t display ads in response to user-inputted keywords. Instead, it displays ads to those higher in your marketing funnel. Another prominent con is that you can waste a lot of money with Facebook Ads. There’s a good chance of this happening if you don’t know what you’re doing. Finally, Facebook users tend to have short attention spans. It is a distracting environment, so you need to be creative with the types of ads that you are displaying.
In the grand scheme of things, Facebook Ads the benefits of Facebook Ads are hard to question. But how can you use them to get the growth that you expect? Sam shared some important tips.
First, you need to think long and hard about targeting. Facebook Ads can be so powerful because of the huge potential audience, yet failing to target the right subset can lead to disappointing results. If you own a brick and mortar business, for instance, make sure you’re targeting neighborhoods where you recently completed work or are going to complete work. You can even get as detailed as a one-mile radius around a specific address, so definitely take advantage of that. By metaphorically fishing in the right pond, you substantially increase your chances of success.
Next, Sam says you should leverage the “X Factor” with Facebook Ads. What does this mean? You should spend a good amount of time on your ad creative. Step into the shoes of your target and think about the message that you want to send. When using photos, a good rule of thumb is to make sure that they include people and human emotion. Videos can be more effective than photo ads—so long as they are done properly. Sam has seen selfie-style videos work the best or videos where you are directly speaking to the camera. Think about the objective of your video ad and make sure that the copy and visuals meet that objective.
As for text-based ads, make sure you’re not copying and pasting copy from your website. Instead, return to your objective and make sure your copy is meeting that objective. As one example, if you’re trying to get leads, make sure your headline is punchy and noticeable. Include a call-to-action and make sure that the offer is compelling. Things like customer testimonials can also be effective, as they provide social proof and show that other customers have been satisfied with your business.
Finally, spend time optimizing your conversions. Take advantage of Facebook’s embedded forms, rather than directing visitors to your website. Make sure to pre-qualify your leads by asking for specific information about the help they are seeking. Also, don’t be afraid of the math. It’s important to have a set budget, determine how much you are paying per lead, and alter your strategy as necessary. Doing this, you’ll get the most bang for your buck.
While Facebook has received plenty of controversy in recent years, it is still a fabulous place to grow your business. A diverse audience, plenty of ad formats, and cost-effective advertising options make it an outstanding option. Ultimately, by following Sam’s tips and insights, you are sure to see promising returns in your Facebook Ads strategy.