For business pages, Facebook allows brands to have additional reach via paid advertising. Facebook provides targeting capabilities based on your Facebook Profile information: age, location, education, relationship status, interests like favorite movies, music and much more are available to advertisers that can access to aggregate data and reach the right audience for their ads. In this article we will cover the different opportunities you have for expanding the reach of your message as well as bringing the acquisition of new customers to your page or bringing awareness of your page to new customers. The fact is Facebook has 500 million active users on a monthly basis. That is a huge population from an opportunity perspective for getting your voice out there.
Over the last two years Facebook has been tweaking the algorithm of what posts get visible to your fan’s pages. In the past if you were a successful brand with strong engagement, roughly 30 percent of your posts were getting visible to your fan base without spending any additional funds. Today that number is much lower.
This article will cover the different ways you use Facebook as an advertising platform through: sponsored posts, Facebook ads, traditional ads.
The first one, as we mentioned, is sponsored posts. Sponsored posts allow you to have your individual message appear in the user’s feed. These will cost you anywhere from $50 up. From a performance perspective, if you don’t have a message with a sponsored post component to it, you’re probably going to be seeing anywhere from 10 to best case 15 percent of your communication’s post. On the retrospect, if you spend the $50, you will get up to 25 to 40 percent exposure on that message.
Now this will get a little funny as there are other things that go into the algorithm such as how customers are engaging with this post. Are they clicking? Are they sharing it? Are they liking it? The more engagement you get the higher your visibility score gets. From an acquisition perspective, depending on what your message is, your goal is, it potentially can be money well spent.
The second avenue to spend money on Facebook is to create Facebook ads to lead people to like your page. This is purely a fan-based acquisition type of campaign. Now, as I said, from a brand perspective, there are other potentially cheaper ways to acquire fans and expand your fan base. The benefit of acquiring Facebook fans via ads is that you can really target it to specific types of users. For example, people who liike a specific brand, or people who are friends of people who like you because you think the friends of your fans are going to be like-minded individuals. The disadvantage of this tactic is that it is an expensive way to acquire a fan.
The third way to spend money on Facebook, which is probably one of the most common ways that people spend money, is through traditional ads. So, as you have seen, in the right hand column, there are behavior-targeted ads that run on Facebook. The interesting thing behind it — because of the amount of geo- and user-preference data, you can really target these to the type of customer you’re looking for. For example, if you are a photography business, you can target people who are engaged. Or if you are a brand that sells baby products, you can target folks who are pregnant or just had a baby. The fact is people volunteer this information on Facebook, which is why it is just an incredible source of data for data-driven advertising.
The type of ads that tend to work well in these campaigns are things which are actually more engaging and jazzy. Consumers are getting savvy in terms of being hit up with a lot of advertising messages. As we have seen from other brands that have run campaigns and shared the results, the type of campaigns that tend to perform well are the ones that bring a little bit more of an engaging brand personality into their communications.
From an ROI perspective, this is one of the more successful ways to spend money on Facebook, depending on what it is you’re offering.
So, those are three different ways you can spend money on Facebook, directly with Facebook. Obviously there are other ways you spend funds for social media, such as running a sweepstakes and social media games but today we’re focused only on how to spend money with Facebook directly. If you have any questions or would like to learn how you could use social media advertising for your company or for your brand, please contact us at email@example.com.