As many business owners know, it can be frustrating not being certain about where to invest money in the business in order to see optimal growth, especially when it comes to marketing and advertising. There are plenty of social media platforms and other mediums on the internet that you can use to get in front of your target audience. With all the channels out there, it can become difficult to choose the ones that are right for your business. Even those utilizing the best platforms may be missing out on key elements that can help them scale further and faster. Facebook has become a fundamental part of many businesses’ success, and I’m going to explain to you three ways to make the most out of your Facebook advertising efforts in 2022.
Choose your target audience.
One of the most key aspects that make Facebook advertising so successful is the fact that you can hyper-target ideal audiences that you want to reach. In this day and age, data is king. Being able to access and leverage large amounts of historical data facilitates the tedious and often seemingly impossible task of creating relevant target audiences used for paid advertising. Unlike traditional forms of marketing, Facebook allows you to create different audiences based on a variety of demographics, such as location, age, gender and even more specifically, interests and hobbies.
It’s possible to also create custom audiences by uploading an existing email or phone list directly to Facebook, and every user with matching information such as email or phone number on the platform is targeted with paid advertising. You can then take it even further and create a “Lookalike” audience where Facebook will create an audience based on their users who look most similar to your existing database. The opportunities associated with being able to choose exactly who you pay to advertise to on social media are invaluable.
Pay on a cost-per-result basis.
All business owners want one outcome from their marketing efforts, and that is to bring in a return on investment and scale company revenue and profit. Many business owners only feel comfortable investing in strategies where they can pay on a cost-per-result basis, and some only feel comfortable paying after the results come in.
One of my favorite parts about advertising on Facebook is that we only have to pay on a result basis. Gone are the days of paying for out-of-home advertisements and hoping to get a conversion that isn’t always easily trackable. Even more so, when launching Facebook advertising campaigns, Facebook only charges after it delivers the desired results based on the objective you choose.
Collect data and use it in the future.
Not only can you use existing data in real time to get in front of ideal prospects and try to convert them into paying customers, but you can then leverage this data to use at a later date. Users can engage with your social media or website, and you can retarget that exact user with contextual advertising for up to 365 days later.
As an example, a website visitor who has added a product to their cart on your e-commerce store but didn’t purchase can be targeted with an advertisement that has context such as: “Looks like you forget something in your cart. … Don’t forget to check out!” This is made possible by creating retargeting campaigns where you spend money to get in front of users who have previously engaged with a website or social media page during a chosen time frame. Harnessing the power of data to get in front of the right audiences and generate a desirable return on ad spend is a sure-fire way to scale business.
Whether you want to get in front of a desired target audience, pay for advertising on a cost-per-result basis or simply want to leverage customer data, then Facebook advertising might be a solid option for you. Utilizing the power of Facebook advertising can be a predictable way to ensure consistent sales for your business. If you want to make the most out of your advertising budget, then keep these three tips in mind.
