Facebook Advertising is a tempting avenue for many small businesses to generate traffic and leads. It’s easy to see why since Facebook typically has a cheaper Cost per Click than Google Adwords, Linkedin, or Twitter advertising. Also, the demographic targeting on Facebook is unparalleled. If you have a fleshed-out Facebook profile, think about how much they know about you… They know that you may be an entrepreneur, read self-improvement books, your age, gender, religious affiliation, marital status, gurus you follow, and countless other wide-ranging interests.
…And all those things can be targeted on Facebook advertising.
Given that Facebook provides mountains of data to target, it’s easy to understand why advertising is such a tempting proposition.
The questions are: does the concept match reality? Is it easy to make significant ROI advertising on Facebook?
The answer is: Not always.
No matter how well you target, it is still easy to throw away a load of money with out seeing any results. That said, here are some pointers that will help give you the best chance of seeing significant ROI from advertising on Facebook.
- Educational low barrier-to-entry offers (almost) always work best. It’s temping to go for the gusto and drive traffic to a sale or an offer “close to a sale” like webinars, consultations, etc. We should remember that unlike Search Marketing, Facebook visitors are not seeking your product or service directly. They are simply a good fit for your product or service demographically. Given this, our best option is to develop a relationship with education or value. Give the prospect a little and ask for a little (email address). Give them enough to provide some value and establish the fact that you are an expert in your industry.
ALSO– I would approach driving advertising to “likes” with extreme caution. I would say the only scenarios where you would spend ad $$ on likes are if you have a thriving social media presence and it’s been proven that you can turn a like into a sale, or that ROI is not your first priority in advertising. Perhaps it’s branding or the social credibility you get from having a significant number of likes
- Patience– A prospect on Facebook is probably not looking for your product today. Be content in the short term to generate leads at an efficient, cheap rate. Over time the combination of leads being nurtured for a while and new leads coming in will build upon itself and give you a nice ROI positive presence that should only keep growing over time.
- Great Infusionsoft strategy to accompany advertising– Since the relationship-building aspect of Facebook advertising is so crucial, it’s important to have a well thought, consistent Infusionsoft strategy to follow the opt-in. As a follower of Tyler Garns, you also understand that tracking advertising ROI is a huge deal. Again, it’s important to lock in on the cost per lead initially and watch the ROI grow over time. Infusionsoft Leadsource reporting is perfect to look at that data.
- Avoid ad fatigue and keep your creative fresh– Eventually, your target demographic will see your offer many times over. You’ll notice that almost any Facebook campaign will see a spike initially in opt-ins that will inevitably start trailing off. The best way to avoid that is to keep your offer fresh. If you don’t have the ability to use multiple offers, it becomes even more important to have many images and ad text versions rotating. By doing this, the prospects that see our offer regularly will not become “blind” to it.
- Utilize Facebook to it’s fullest capabilities– Don’t believe anyone that tells you there’s only one best way to advertise on Facebook. Facebook offers many different advertising options, and my recommendation is to take advantage of them all. They all have pros and cons, but in the end we’ve seen them all be profitable
- Timeline ads
- Pros– They’re huge, image-driven, and provide space for a lot of text content. They’re also integrated with the other Facebook content that the prospect is there to look at. Eyes WILL be on your ad. There’s also a social element that exists so that once your ad starts seeing significant likes and comments, it will only augment your ad’s effectiveness.
- Cons– Since it is timeline advertising, your ad can easily be scrolled away from, or pushed down the timeline. It’s also becoming quite competitive, so cost per click is rising in general.
- Right side ads
- Pros– They’re stationary, so it’s much harder for someone to scroll away from the ad. Also the fact that it’s “old-school” and not as chic as other types of advertising. Because of this it may be a cheaper option in some cases. Impressions will be typically much higher
- Cons– Tiny ads, not much room for text content, and fewer social options
- Sponsored posts
- Pros– Everyone will see a post you deem effective. Great for branding and social credibility
- Cons– It’s a bit of a bummer that you have to pay for someone already connected with you to see a post. Also, it may not be as good for lead generation
- Pros– Great for prospects that have already seen your website/landing page. When they see your ad on Facebook it gives your offer further credibility and makes it more appealing. Also, the normal Facebook advertising rules don’t apply. You can, in many cases, drive them to any offer under the sun.
- Cons– Ads are only shown to people who visit your website/landing page and don’t opt-in. Volume will be limited in that respect.
- Custom audiences (Email lists) – You can load email lists into Facebook and advertise to anyone with a corresponding Facebook account.
- Pros– Already familiar with you and your brand. Can send to any offer you’d like.
- Cons– At best, only about 50% of most email lists you load into Facebook will have a corresponding Facebook account, so volume will be limited. Also the logic of advertising to people whom you already have email addresses could be argued. I for one, really like it, because it can be used for upsells and to reach out to prospects who aren’t opening your emails.
- Timeline ads