The 2020 pandemic didn't expose business owners to the idea that foot traffic is dwindling and brick and mortar storefronts are fading. 2020 did, however, show that all business owners could benefit from an online presence. When doors started to close, small...
How to Maximize Your First Time with Facebook Ads
Advertising as a small business is daunting. Where do you start? Do you have a budget? Who is your target market, and how are you targeting them? Massive corporations like Nike or Verizon can spend millions of dollars on TV and web ads, but you don’t need all of that to be successful. Marketing for your business is challenging, but you have options for any budget.
Marketing has changed over the past decades. Billboards were the end all be all of advertising once upon a time. While they still dot the interstates, advertising opened to new mediums like TV and radio. The problem was marketing on these mediums was still prohibitively expensive. Relying on word of mouth recommendations and storefront signs only go so far.
Fast forward to the social media boom. Now small businesses have a diverse collection of options for advertising. Instagram, Facebook, Twitter, Pinterest, LinkedIn, YouTube…you name it, you can pay money to promote your product on it. Social media is more budget-friendly for small businesses.
The new challenge is learning how to target your market surgically. Trying to attack the whole market is an excellent way to waste money. Identify who you want to reach, and strategize from there.
While there are several platforms to try, here are some ways to maximize your first time using Facebook ads.
“By failing to prepare, you are preparing to fail” – Benjamin Franklin.
Just like starting a business, you need a plan. Marketing is challenging, and trying to “make it up as you go” can be devastating. Start to form a strategy focusing your message on your target audience. What is your goal? Are you trying to drive customers to your website? Or maybe you want to build an email list.
Build a timeline for your strategy. Decide when to launch or if you want multiple launches based on your campaign. Knowing the browsing habits of your demographic can make or break your plan as much as anything else. Luckily, there are plenty of tools available that can help define browsing activity.
Know Your Market
Who are you targeting? This should be the first question you answer when you start. The next question should be ‘why?’ We talked about not trying to attack the entire market. Market researchers exist specifically to give you data on various demographics. Whatever you need to know, chances are they have the data. You know your product better than anyone. You also know who is buying it.
With Facebook, you can create highly targeted ads focused solely on your market. Be as broad or as surgical as you want. Pick through different keywords and age groups to narrow the crowd, and tailor your content accordingly.
Set a Budget
A few months ago, we sat down (virtually, of course) with Social by Steph’s Stephanie Smith to go into a little more detail about Facebook ads. She let us in on a few trade secrets like never hitting the “boost” button. It’s designed to convince you that spending $5 more will help reach more people, but really, $5 won’t do much either way.
Nickel and dining your way through a marketing campaign is a waste of money. Thinking that reaching tens of thousands of people by spending $15 on Facebook couldn’t be more incorrect. Don’t get us wrong, traffic is traffic, but you want the right people. You can expect to spend at least $30-$50 per day. You’ll have a much better chance of reaching the right audience.
The moral of the story is if this is out of your budget right now, you need to save until you can contribute between $500-$700 per month. Otherwise, you are spending money and not accomplishing much.
Set a Timeline
Setting a timeline can be tricky since you are trying to balance your budget with your marketing goals. Your marketing plan should consider campaign duration, but you need to set a distinct timeline to keep yourself from overreaching. When you start to see success with an ad campaign, the temptation to keep rolling forward is intense, but remember, you have a budget. Stick to it!
No one is perfect. Your first ad campaign won’t be perfect either. However, you can do something called A/B Testing. A/B Testing is a process of showing two variants of an ad to different audiences and seeing which drives more clicks or conversions. In your case, different variants might be writing other text or using a different image. If you’re making a video, you could try different voiceover scripts or narration.
The goal is to create two different ads with the exact same narrative. A/B Testing is invaluable as you begin a marketing campaign because you can try out different versions before committing your whole budget. The good news is that you don’t need an enormous sample size to figure out which ad tests better, so don’t worry about blowing your money on an ineffective ad. Start small with each version, see which performs better, and then put everything behind the more successful
Learning from what works is essential. Learning from what doesn’t work is vital. Try using key performance indicators (KPIs) to monitor your success (or lack thereof). KPIs are invaluable and used across every industry. When starting your campaign, have a clear picture of what you want to accomplish. Do you want 30k more page visits? Create benchmarks at specific times for 5k, 10k, and so on to monitor your progress. If you’re not hitting your KPIs, learn from your opportunities, and improve.
Your first time using a Facebook ad may be discouraging if you go in shooting for the moon. It’s ok to be ambitious, but set realistic expectations. Sit back and watch your campaign unfold, and most importantly, learn everything you can about where it’s useful and where it’s not.
Nothing ventured, nothing gained. Many first, second, or even third attempts with a marketing campaign can fail miserably, but don’t be discouraged! Learn from what went wrong, and go into your next shot with a better plan. You need to commit, though. We talked about the pitfalls of trying to nickel and dime the system, so go all-in when you go in.
It feels risky to sink a large amount of money into advertising, but remember, advertising exists on nearly all platforms because it produces results. Commit to your strategy and your timeline. Commit to your budget, and commit to making a successful campaign. That’s the only way to be successful.
Marketing on Facebook
Facebook is one of the most budget-friendly advertising platforms available. We recommend it due to the pinpoint market segments you can target and the ease of use. Ad campaigns are challenging, so choosing a platform that’s easy to use will help immensely.
Luckily, Facebook provides some guidance as you go about creating your ad(s), so you’re not lost in the weeds. But at the same time, you need to create an engaging ad or watch your money disappear. Do your research, make a plan, set a budget, monitor your KPIs, and commit to the process. Facebook can help to a point, but being successful is up to you.
You’re not alone, though. Small businesses need help all over the place, not just marketing. Shamrck is a complete website and business management suite with everything you need to be successful. Start your free trial to see why Shamrck is right for your business.
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