Facebook is one of the most visited websites. Businesses and entrepreneurs without Facebook profiles miss out on the largest audience in the world.
Using Facebook Ads, you can reach millions of users every day. However, you need more than a creative ad to build an effective Facebook ad campaign.
If you want to get the best return on your investment, follow these tips to develop your advertising strategy.
Why Do You Need to Create an Advertising Strategy?
The Facebook Ad Campaign Manager is easy to use. Most people have no problem navigating the menus and creating their first ad campaigns. Without a strategy, however, these campaigns may not provide the results that you want.
Facebook provides a lot of options for tweaking your ad campaign to get better results. It also uses an algorithm to deliver ads to the right people. Unfortunately, many businesses fail to use these benefits to boost the effectiveness of their ad campaigns.
The main components of an effective advertising strategy for Facebook include the following:
- Setting objectives
- Optimizing your settings
- Choosing a bidding strategy
- Setting a budget
Follow these steps to optimize your ad campaign if you want to spend less and attract more customers to your website.
Setting Objectives for Facebook Ad Campaigns
The first part of developing an effective advertising strategy is setting an objective. You should have a clear outline of what you hope to achieve with your advertisements.
Luckily, Facebook helps you set your objective. When you create an ad campaign, you get to choose from three different objectives – conversions, consideration, and awareness.
If you select conversions, your objective is to gain more traffic that is likely to lead to conversion. The Facebook Ad Campaign algorithm uses this objective to serve your ads to high-converting traffic.
If you select consideration, you are letting Facebook know that you want to serve ads that help increase engagement and website traffic.
If you select awareness, your objective is to increase brand awareness. You want your ad to reach more people, even if it does not result in more website traffic.
Facebook also provides you with several subcategories for each objective. For example, if you choose awareness as your primary objective, you can select impressions or reach as your goal. If you choose conversions as your objective, you can choose from conversions, sales, and store visits.
These details help Facebook deliver your ads to the right people. If you select the wrong objective, you may not be as happy with the overall performance of your advertisement campaign.
Optimizing Your Facebook Advertising Campaign
After choosing an objective, you can begin optimizing your settings. One of the first settings to consider is the optimization event.
Facebook uses these optimization events to determine the success of your ad campaign. The optimization event allows you to select a specific event that you hope users will complete when they visit your website or landing page.
For example, you may want users to sign up for an email newsletter or download a specific file. These actions can be linked to your Facebook ad campaign. Over time, Facebook will learn to serve your ads to people that are more likely to engage in these specific actions.
Facebook also allows you to optimize the settings for ad delivery. If you select conversions, Facebook will serve your ads to people to help you gain more conversions. If you select landing page views, your ads will be served to people that are more likely to click on the ad’s link, no matter whether or not they convert.
The setting that you choose for the ad delivery should match your goals and objectives.
Choosing Your Bidding Strategy and Your Budget
You also need to consider your bidding strategy, which is directly connected to your budget. Facebook allows you to set a daily budget for your advertisement campaign. You can also set a start date and end date.
Facebook provides two options for your bidding strategy. You can choose the lowest cost or a target cost. With the lowest cost, Facebook aims to get you the most conversions for your budget. With the target cost, the goal is to maintain a steady cost per conversion. The option that you select determines the bidding strategy used by Facebook.
Which option should you choose? If you select the lowest cost, Facebook will try to get the lowest cost per optimization event. They will also aim to use your entire daily budget. However, you can also set a cap on the maximum amount for each bid.
With the lowest cost bidding strategy, you are more likely to get more impressions and clicks without spending as much. However, the cost can fluctuate more frequently compared to the target cost bidding strategy.
The target cost bidding strategy tries to set an average cost for each optimization event over the life of your advertisement. Even if you increase your budget, Facebook does not increase the amount spent per bid. However, the lowest cost bidding strategy may increase the cost per bid until you reach your set budget.
Conclusion – Facebook Ads Are Cost Effective
If you need help with any of these steps, you should consider working with a digital marketing agency. Marketing experts can help plan and manage your campaign, allowing you to get better results and stop wasting your advertising budget.
The bottom line is that Facebook provides one of the best methods of reaching potential customers. While the Google pay-per-click ad networks also provide access to almost every online user, Facebook offers a few extra advantages.
With Facebook, you often get a more cost-effective advertisement solution. You can also easily target your specific niche market. You can choose to target people based on their region, gender, age, and even their interests.
For example, if you sell golf clubs and golf-related merchandise, you may solely serve your ads to people that list golfing as one of their interests.
If you want to attract more business without spending a fortune, Facebook ads are a great place to start. Remember to consider working with an experienced digital marketing agency in Bangkok for assistance setting up your first campaign or help improving your existing campaign.