And what about Facebook advertising benefitting ROI?
Just look at the 75% greater ROI earned by retailers who advertised on Facebook.
But a Facebook ad is only as effective as the amount of engagement it earns.
Whether that’s measured in likes, clicks, impressions, or other other goal, earning greater engagement on your Facebook advertisements should be a constant goal.
Here are three tips you need to know for getting greater engagement and ultimately increasing conversions with your Facebook marketing.
1. Narrow Down Your Audience
Sure, there are over 2 billion people on Facebook. But are all of them your target consumers?
Probably (hopefully) not.
No, instead there is a group of demographics or people out their with certain behaviors that are more likely to engage with your brand.
Facebook advertising makes it easier to hone in on who these people are with its extensive audience targeting tools.
To begin creating a selective audience for your Facebook ads, start by going to the Audience section within your Ad Set on Ads Manager.
First, set your location.
If you are strictly a brick-and-mortar retailer, you’ll only want to target a single location, which is the city in which your business is located.
If you are a brand looking to expand your reach or an online retailer looking to attract customers from another region of the U.S. or internationally, adjust the target location accordingly.
Then, set the distance radius.
Again, this should be based on your business.
Small mom-and-pops should target closer to their stores, while larger brands should opt for a greater distance for their Facebook advertising.
Then adjust the age range, select the gender, and lastly choose the target language.
The more selective you get with these steps, the more effective your Facebook ads can be.
Reaching the right group of people means getting greater engagement, as they’re more inclined to interact with your brand.
The detailed targeting section is where honing in on an audience truly becomes possible.
Here, you have the option to include or exclude people based on demographics, interests, or their behaviors.
So let’s say you own a pet store.
You would target people in this detailed section with people interested in dogs, cats, dog food, and perhaps two to three other pet-related interests.
You would exclude people who would be looking for a product or service you don’t offer. For example, exclude ‘dog walking’.
It all comes down to be extremely picky and specific with your target audience.
Doing so is one of the best ways to boost CTR, increase conversions, and improve overall engagement with your Facebook ad.
2. Show Some Proof
People want to know something works before they take action on it.
This doesn’t just apply to purchasing a product.
It also refers to signing up for a newsletter, downloading an ebook, or downloading an app.
When people see quantitative or qualitative evidence about what a brand is offering in their Facebook ad, they’ll trust it more and therefore be more likely to engage.
Image source: https://www.webprofits.com.au
Not only does this ad above work by putting a friendly, smiling face in front of viewers, but also it provides a specific success story.
Wouldn’t you want a 740 on your GMAT?
E-GMAT is certainly counting on it, and has this testimonial to instill confidence in their potential customers to help them convert.
Here again, the purpose of this Facebook advertising campaign is to let people know the product/service works, and to provide assurance that other people are fans, too.
If you’re a person just coming across this Facebook ad, you see that over 5,000 other people downloaded these templates.
Well, 5,000 other people probably knew what they were doing, too, right?
That’s the idea behind social proof Facebook marketing.
Show people the numbers and rave reviews, earn their trust, boost engagement.
3. Grab Their Attention With Content
The first thing someone sees with your Facebook advertisement is the headline.
When it comes to what to write, Facebook ad headlines with questions have been shown to yield 150% greater clicks.
Image source: https://blog.hubspot.com/
When the question includes the word “you”, this engagement jumps to 175% greater clicks.
Consider what resonates most with your audience with A/B testing, but always remain concise and specific.
Once you’ve grabbed people’s attention with your headline, get them to keep reading with compelling Facebook ad copy.
One of the most effective Facebook ad copy formats addresses a problem and lets customers how the company will solve it.
The headline is the relatable bit, where people will see an issue that they’ve experienced.
Then, in the copy the problem is reiterated and the solution is posed.
Find your customer’s pain point and address it in a plain and simple way that explains how your brand is the solution.
They’ll feel encouraged to engage because your Facebook ad has provided real value to them in the form of a problem solved.
For even further inspiration, you can look at the best Facebook ads from 2016 and see what they’re doing with copy and more in order to succeed.
There’s no formula or secret to cracking the code of Facebook ad engagement.
Instead, getting greater engagement on your Facebook ads is a matter of knowing your audience, crafting a compelling ad, and A/B testing to keep on improving.
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Growth Hacks:
Direct Message Your Social Followers:
When new users follow you on Twitter, send them an automatic Direct Message with a link to your most shared/popular article or your best products (lead magnet).
A big question has loomed over digital marketers for years. Which is better for mobile: Adaptive or Responsive? We now have an answer….
Responsive websites are designed as one singular website for all users, the website will change it’s look depending on what screen size it is being viewed on.
Adaptive websites are broken up, the server will recognize that a mobile phone is trying to view the site and will show them a totally different experience (for example, m.website.com)
A recent study by catchpoint found that adaptive websites, on average, load 200% faster than Responsive ones.
If you wanna know what that matters…see the next Growth Hack!
8. SOCIAL PROOF: “There are X people looking at this hotel.”
9. SOCIAL PROOF “Latest booking: X minutes ago.”
10. AUTHORITY: Booking.com, “#1 accommodation site + trust labels.”
11. SOCIAL PROOF: A carousel-like overview of testimonials.
12. USER EXPERIENCE: Big, beautiful pictures.
13. SCARCITY: We have only X left on our site.
14. SAFETY: “FREE cancellation before {DATE}.”
15. LOW FRICTION CONVERSION: Reserve (Confirmation is Immediate)
16. SCARCITY: “Hurry! This is a limited offer.”
17. LOW FRICTION CONVERSION: “No payments needed today. You’ll pay during your stay.”
18. SOCIAL PROOF: “This property is in a good location. Guests have rated it X.”
19. SOCIAL PROOF: “You’ve selected a hotel with a guest review score of X.”
20. SOCIAL PROOF: “X guests from {YOUR COUNTRY} have made a booking in the last 5 minutes.”
21. CALL TO ACTION: “Your secure booking starts here – it only takes 2 minutes!”
22. EXIT INTENT: An exit pop-up: “The details you’ve entered will not be saved if you leave this page.”
23. AUTHORITY: Quote: “Booking.com is one of the largest and most valuable companies in {SELECTED COUNTRY}.”
24. SAFETY: “Change of plans? Hey, it happens. You can easily modify your dates, guest details, add special requests, or cancel your entire booking before {DATE}.”
25. LOW FRICTION CONVERSION: Credit card number: “No charge – only needed to reserve your room.”
26. LOW FRICTION CONVERSION “Your credit card will not be charged – it’s only needed to guarantee your booking.”
27. INSTANT GRATIFICATION: Book this room. Get instant confirmation.
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If you’re familiar with Facebook advertising at all, then the question of how much a Facebook ad costs seems odd.
I thought they were based on bids?
I thought you set your budget?
I thought I determine how much I spend?
If any of the above questions crossed your mind, you’re not wrong.
Advertising on Facebook is a bid-based system based on the maximum budget you set for each day.
What you need to know, though, is that as you’re setting your bid, so are literally millions of other businesses that are competing for the same audience.
Every single one of them is worth an average of $19.81. Now that’s a whole lot of revenue for you to tap into.
Remember: Facebook marketing isn’t an isolated space. You are bidding against every other company that also runs a Facebook ad campaign in your related industry to try to get these users’ attentions.
With the level of competition this high, it’s important to know what goes into the cost of your Facebook ads.
In this post, we’ll tell you the factors that influence your Facebook ad cost and what calculations to look at to determine actual costs.
Your bid, beyond being your way of securing that your ad shows up on Facebook, also shows how much you care. The higher the bid, the more likely your ad is to appear.
If you’re at all familiar with marketing on Facebook, you’re going to want to select the Manual Bidding option. Otherwise, Facebook will decide for you.
Your bidding options also determine if your bid should be higher or lower because each costs a different amount.
For example, if you are bidding based on CPC, this is going to be higher bid and cost than CPM.
Though costs may be higher, it’s important to track conversions and determine if it’s worth spending more.
Each bidding option will yield different success based on your target audience.
Variables like gender, location, and day of the week can all have an effect on CPC costs.
Image courtesy of AdEspresso
Consider the Audience You’re Targeting
Your target audience can be more expensive or far cheaper depending on the amount of competition in your industry.
If everyone is targeting the same audience, Facebook ad costs will increase.
In the above example the cost to run the same Facebook ad, targeting the same demographics and placements, in Chiang Mai versus San Francisco is incredibly different.
In San Francisco, running a Facebook ad campaign costs 14 times more than in Chiang Mai.
What this proves is that though you should define your audience, keep in mind that factors like location, age, gender, etc. can greatly affect costs.
Image courtesy of AdEspresso
Know When to Advertise on Facebook: Dates and Times
There are certain times of year that the cost of advertising on Facebook increases.
It’s not just the national holidays that attract more advertisers to the social media platform, either.
Keep an eye out for competition jumps during major sporting events and shopping days that have Facebook marketers lining up to launch their campaigns.
The historical trend indicates more expensive ads with each year’s popular advertising dates.
This isn’t to say you shouldn’t advertise on Facebook at all during these times. Just be wary that costs will likely skyrocket and you need to determine if the higher prices will yield a high enough ROI.
Looking at your ad performance and sales revenue from previous years during these times is a good place to start to help you decide how much to spend on Facebook ads.
Quality and Relevance Matter More Than You Think
One of the most important factors contributing to Facebook ad costs is the quality and relevance of the advertisement.
Facebook measures these two variables by the ad’s performance and both positive and negative feedback from the campaign.
If Facebook determines that your ad is more relevant than other advertisements, it will not only appear more frequently, but also cost less.
Within Facebook Ads Manager, you can view your ad sets and see their relevancy scores.
The higher that score, the less the ad will cost.
Factors including click-through rate and engagement with the ad will affect how Facebook rates it. They’ll then adjust the relevancy score to reflect how people perceive the quality of your Facebook ad.
Image courtesy of KlientBoost
Calculating Real Costs: Focus on ROI
You can measure your ROI from Facebook ads in 2 ways:
Financial ROI
Social ROI
Financial ROI
Financial ROI focuses on how much money you spent on a Facebook advertisement to earn a conversion.
For example, if you’re spending $15 on a Facebook ad campaign and your average customer spends $30, then you’re earning twice the return.
If your average customer spends less than what you’re investing into a Facebook ad, though, you need to look to see if the total number of conversions is outpacing the amount you’re investing.
If it is, you’re earning a positive ROI (woo!). If not, reconsider your bidding and Facebook advertising strategy.
Social ROI
Social ROI on Facebook focuses on the non-monetary success measurements available on the platform.
For example, engagement activities like shares, likes, and comments are all ways to prove an ad was a success or not.
In this case, you’re measuring ROI based on total number of interactions.
If you spent $15 on your ad and it earned 30 shares, 40 likes, and 5 comments, then each interaction cost $0.20. If that sounds worth it, then your social ROI is on the right track.
Why You Should Know About Facebook Ad Spending
There’s no definitive answer to how much Facebook ads cost. That will depend on who you’re targeting, what you’ve bid, and the logistics of your Facebook ad campaign.
In order to avoid wasteful spending while getting the highest ROI (financial or social) from your ads, understanding what goes into the cost of Facebook ads does matter.
Having a grasp on this is your best chance for capitalizing on the engagement and revenue potential of the over 2 billion Facebook users out there.
