This is the final part of how to use social media ads to grow your business. If you haven’t read part one or part two, I would advise you to do so now. Otherwise, you’ll be missing out on valuable information on utilising Twitter and Instagram to increase your ROI. In this article, we’re going to look at how Facebook ads can take your business to the next level.
Facebook no doubt has the highest number of users. In the third quarter of 2012, the number of active Facebook users had surpassed 1 billion, making it the first social network ever to do so. As of the third quarter of 2017, Facebook had 2.07 billion monthly active users. Active users are those which have logged into Facebook during the last 30 days.
It offers brands one of the most powerful advertising platforms in the world. Marketers can reach a very large targeted audience on different devices. Users of Facebook ads are confident of:
1. A large audience reach.
2. Easy access to users’ accounts.
3. Generation of high ROI (return on investment).
4. Cross-sell opportunities for users.
Facebook ads are low-cost. So, they offer brands remarkable results at a budget. To advertise smartly on Facebook, you need to know the three rules which include Placement, Objective and Targeting.
Here are the forms Facebook ads can take:
Advertising Your Website
To do this, you simply put your direct link on your user account to make for easy assessment. It also helps in boosting traffic to one’s webpage via the post being made. This method is particularly good for easy website promotion.
Using the Engagement Ads
Advertising something on Facebook will always create an engagement ad which people can interact with directly. They can like your page or reserve a seat for your event without having to open the page itself.
However, driving traffic to your Facebook page can be done simply by making your own URL external. Put the address of your Facebook page as the URL and then design the ad however you want, with a catchy title. This ad will help you reach large audiences near your business, draw attention to your event and increase conversions on your website.
Sponsored Posts/Story Ads
Sponsored stories are messages coming from friends about how they engage with a business. Businesses can pay to promote these stories so there’s a better chance of them being in the spotlight. This benefit comes with news about social action (e.g. liking a page) that their friends have taken. The results in a huge click-through rate and higher brand recall rate. Usage of these ads provide brands with increased conversion rates from the leads generated.
Thrillist Media Group, an e-commerce company, see up to a 6x return on advertising. They achieve this by using custom audience to target members of its members only site with ads for products in categories most relevant to them. The brand focuses on demographic targeting. They use likes and interest targeting such as focusing attention around hip pop and rap to reach its audience. As well as reaching out to existing members on Facebook and increase their likelihood of buying products.
JackThreads uses custom audiences as a retargeting tool. The company uses the power editor ads management tool to upload portions of its apprised customer email database of over 2 million male gear enthusiasts. The list of emails is then hashed on the client’s servers and only the encrypted data is ultimately sent to Facebook’s servers. The brand also uses page post ads in the news feed to build its fan base on Facebook and drive sales. In addition, promoted posts are used in the news feed to drive specific sales or products.
The results achieved by the firm are 1/5 more lead generation. What’s more, 2.5 million members have been acquired through ads on Facebook, and 30% lower cost per acquisition for new member sign-ups than all the other advertising channels. It uses 6X return on advertising spend when using Custom Audiences together with Facebook Ads. Additionally, they gain 72% match rate using custom audiences, and 3X higher buyer conversion rate from news feed ads compared with right rail ads.
Here is what the CEO has to say: “Facebook was really the place where we initially grew our membership to 1 million and beyond. The college-aged trendsetters and young professional demographics are huge for our business, and those guys already spend most of their web-hours on Facebook. That’s largely why the cost per click and cost per acquisition that we’re getting on Facebook is more cost-effective than all the other platforms we’re using. And now with Custom Audiences and promoted posts, there’s a nascent retargeting dimension that’s very exciting for JackThreads.” Garett Press, Senior Manager, Retention & Loyalty, Thrillist Media Group.