Invest in Your Facebook Ads to Reap Your Rewards
Facebook Advertising is worth the cost in many ways. It can help to grow your business beautifully! We have talked previously (insert link to previous FB ads article when published) about how they are an extremely important investment to a business. In comparison to many other forms of advertising, Facebook Ads are effective and relatively cheap, but you still have to invest some money into them. Otherwise, the ad will not provide a return on investment, being neither a source of revenue or client leads.
Facebook Ads, What You’re Paying For:
Facebook Ads provide many services, from gaining more “likes” on your page to drawing attention to a promotion. The incredible targeting technology allows you to find the audience that will connect with your ad the most. It’s no wonder, considering there are 1.49 billion daily active users on Facebook. With the right techniques, you can find leads. You just need to invest in the process of attaining them.
When it comes to purchasing Facebook Ads, there is a lot more to the process than simply “buying an ad.” We’re going to discuss some of the steps involved in creating a Facebook Ad.
Firstly, you will choose the monetary value you want to put into the ad you’re running and then decide whether to pay by the day or with a lifetime budget. After that, you decide how long you want your ad to run, with a start and end date, or you can have it run continuously.
With Facebook Ads, you are entered into an auction of sorts. You will make a bid, providing the highest amount you’d want to pay per action taken with the ad you’re making. Advertisers basically compete against other advertisers to show their ads to people in the same targeted areas. To do this, they enter monetary bids but, it’s not all about the money. Facebook also looks into which ads are the most likely to draw engagement and interest. Will this be relevant to people? Will this ad be more detrimental to the experience of Facebook than helpful? Are people more likely to click on this ad than another one?
Another step you need to take is deciding whether or not to go cost per click--CPC--or cost per mille--CPM (cost per thousand impressions). The costs, advantages, and disadvantages really depend on what type of campaign you’re running.
Targeting, the crown jewel of Facebook Advertising is what you are going to need to pay the absolute closest attention to. You can target just about anyone with Facebook Ads. But, with great power comes great risk. So much of the money you are investing can go to waste if you don’t know how to target your ideal audience. That is where ad management companies come in.
Outsourcing to an agency such as ours, 10Twelve, will put you in reliable hands that know how to target ads to get the most visibility and return on investment. We also understand how to test ads to make sure they are performing well so that we can adapt appropriately as we go. It is absolutely vital that when you invest money into Facebook Ads, you either have a knowledgeable background in social media advertising or you hire an agency like us.
Don’t Waste Time, Invest Fully and Smartly.
Social media advertising is taking the world by storm. This is hardly a surprise considering how many active users frequent Facebook and other social media sites daily. Social media is an advertising medium that cannot be ignored by a business wanting to be taken seriously. With Facebook as the continual monarch of social media, Facebook Ads are where you need to put focus and money.
Do you have a promotion offering free cupcakes to newly engaged couples? If you’re targeting those couples, that will be a much smaller, more lucrative and expensive pool. The competition will be higher and so will your bid. However, the traffic you could drive from such a promotion could be fantastic for your business!
Focus on the money and traffic you can bring in. Yes, it can get expensive, but you need to be willing to invest in smart ways in order to grow your business. That is just part of entrepreneurship. Besides that, you need to remain relevant. There are 400 people signing up for Facebook every minute. Things on social media change by the literal second. Don’t fall behind!
One of the absolute best ways to invest in Facebook Ads, as we mentioned before, is to outsource and turn to an agency that understands Facebook Advertising through and through. Don’t waste money by putting in the bare minimum, which will likely not provide you with a worthwhile return on investment. That can result in a lot of money going out and very little money coming in.
The incredible power of Facebook targeting will provide results so long as the process is done smartly. There are so many nuanced reasons why a Facebook Ad may perform better with this option rather than that option, etc. Professionals who know the process and can make sure your ad is visible and successful will save you money in the long-run.
You also need to invest in time. You can’t perfect the perfect ad within a day of creating it. You need to research targetting and reach. What is working? What isn’t working? Make sure that you don’t give up on your advertising campaigns before you can see a potential return on investment. It’s too easy to shell out a little money, not see the process working, and then quit. But then that money is gone and you’ve wasted a great opportunity. Invest in your Facebook Advertising all the way around.
The ROI of Facebook Ads.
This is extremely important: don’t focus on how much money you are putting into Facebook Ads so much as how much money and leads you are creating from them. For example, we conducted a case study where a gym spent $16,000 on Facebook Ads. In addition to the money spent on the ads, $8,500 was also spent on management fees. Altogether, it cost $24,000. That takes the breath out of you, doesn’t it? However, it’s not about the money spent, rather the money made.
At the end of 45 days, the gym made $94,290. Subtracting the fees, the net revenue was $69,790. They spent a reasonable amount of money on advertising and then on making sure the advertisements were managed correctly in order to create spectacular revenue. And it worked. They spent a lot to make even more.
It’s important to understand that Facebook Ad costs are worth the return on investment if they are done correctly, strategically, and if they are managed well. With anything, we need to focus our money and resources where they will reap the most reward.
A child with no one to nurture them or invest in their future will have a much harder time succeeding in the world. Your advertisements, similarly, need be given a nurturing environment in which to grow. Invest in your ads, make sure there are strong strategies behind them, and make sure that they are managed well by people who know what they’re doing.
There are few tools more powerful in the advertising world than social media advertising. Don’t let your business fall behind the times because you’re scared to invest in something new. Outsource to an agency like 10Twelve, where you will be put first and your ads will become a strong tool full of lead generation, revenue, and lead conversion potential.