Have you been marketing on Facebook but don’t seem to be getting a lot out of it? Are you measuring your social media activities? As a business, you definitely should be, but many don’t. According to a recent report, only 42% of business surveyed stated that they were able to measure their social activities.
When you spend money on advertising, you should be paying attention to your return on investment (ROI). However, in 2014, only 37% of business said they were able to measure this figure. Compare that number to the 87% of businesses who said they planned to increase their time and money investment on social media, and you can see that there is an issue with those figures.
Many businesses using social media today don’t know what it is doing for them, but they continue to spend time and money on those platforms. Would you spend money on a diet meal service but never get on a scale to see if you are making improvements in your health and weight? Blindly spending money on Facebook without tracking your results is essentially the same thing. Wouldn’t you like to have a successful marketing strategy that allows you to see positive results?
Don’t get me wrong, there are plenty of ready-to-act prospects on Facebook that will fill your sales funnel and give you the revenue you need. However, there are certain things you need to do and rules to follow in order to see the money come in. Most businesses that market on Facebook aren’t doing so successfully. They post without considering their audience, spend advertising dollars blindly, and follow the masses. Many businesses advertising on Facebook aren’t making money, so don’t follow the masses.
Does this sound like you? If so, it’s time to change your path and get desirable, measurable results on Facebook. Here are four things you likely don’t know about Facebook marketing that can help you be successful with your results if you follow them.
1. Make your targeting precise
You probably don’t have an endless marketing budget, so you don’t want to waste any time or money on unqualified prospects. For maximum ROI, focus on targeting your perfect prospective buyer and ignore all of the rest.
You are probably aware of all of the targeting options you get when you set up an ad on Facebook. You can choose age range, gender, interests, and more. Are you guessing when you make these selections? You don’t have to guess. Facebook Graph Search is a powerful tool that allows you to run incredibly targeted searches to learn more about your audience. For example, you can use the Graph Search to find out things like what other pages your followers like (“Pages liked by users who like your page”), their interests, where they check in, and more. You can use this information to run hyper-targeted ads to reach only the most qualified prospects. Additionally, by clicking on the Insights tab at the top of your Facebook page, you can get demographic information about the people viewing your page like age, gender, and location.
You can also target your ideal audience on Facebook with your “About Us” section on your page. When people visit your page, you can use the About Us section to tell them why they should connect with you by offering your unique selling proposition (UPS). Use your company’s UPS to tell prospects why they need to do business with you instead of your competition. Tell them how your products or services benefit them and solve their problem.
On your Facebook page you can include a link to an outside landing page that offers prospective customers even more value. You will want to make your lead magnet for the email opt-in something worthwhile. Consider offering a video, e-book, or free report. If you don’t have anything to give away, you can still send Facebook users to your blog so they can get valuable information from you there. The bottom line is, you want to send your Facebook audience to your website, so you need to give them incentive to leave Facebook to visit you.
Utilize your About Us message to be specific and targeted to your company’s ideal audience. Let them know whom the products and services are for and how they will benefit by using them.
2. Don’t make your first impression a sale
If you are looking. to make a purchase and you want some opinions, who do you ask? Do you ask your best friends, or do you ask a company? Of course, you’re going to trust your best friend’s opinion more than that of an unknown company. If you try to sell to your audience the first time they come to your page, then you fall into the less-trustworthy company category. You need to utilize Facebook as a tool to build relationships with your audience before going for the sale. In fact, Facebook shouldn’t be the platform you’re using to make a sale. It should be used mainly for building trust and relationships with your prospective customers.
The relationship-building phase doesn’t need to last long, however. Here is an example of an effective funnel for your Facebook prospects:
– Create a News-feed ad that sends people to one of your best blog posts, but don’t ask for an opt-in yet.
– Create a re-targeting ad shown to those who clicked on your original ad that asks for a Facebook like.
– Once they have seen what you have to offer and felt compelled to join your Facebook community, then deliver an ad that sends them to a page with an opt-in.
Now that they are on your email list, you can start your sales funnel. This order of events works whether you are selling products or services. The most important point to remember is to start by delivering valuable content and end with monetizing.
To create loyal fans and customers, you’ll want to continue to build and nurture your relationship with your fans. The typical consumer is connecting with more brands every day, and spending more money on the brands they are engaging with on Facebook. Continue to engage and build your Facebook community with two-way communication. Be a resource they can go to to solve their problems without any hidden agenda.
3. Keep track of your stats
Facebook marketing’s effectiveness can be measured, and you should measure all of your advertising money spent. Using Facebook’s conversion tracking, you can get a good idea of your ROI and advertising success. Facebook has a tool called Conversion Lift that gives you metrics that provide in-depth analytics of your advertising. Facebook describes Conversion Lift as a tool that accurately captures the impact that ads have in driving business for marketers.
How does Conversion Lift Work? Check it out:
– When you create a Facebook ad campaign, a randomized test group of people that see the ads is established, along with a control group of people that don’t see the ads.
– As an advertiser, you securely share your conversion data from the campaign with Facebook. Your conversion data typically comes from Facebook’s Custom Audiences pixel, the conversion pixel, or your point-of-sale data.
– Facebook determines the additional lift you generated from your campaign by comparing the conversions of the test group and control group.
– The results are available to you in your Ads Manager
This in-depth analysis provided by Conversion Lift will help you see your ROI and how well your advertisements are performing. From here, you can make adjustments and test again, continually improving your strategy.
4. Don’t use the Boost Post feature
The only way you’ll be able to smartly scale your ad spend, optimize your targeting and message, and get amazing results is by tracking your marketing data. The ability to track results is the reason why you should never use the Boost Post button. When you do, Facebook makes all of the decisions for you.
You’ll get a limited number of targeting options when you use Boost Post, but it is not nearly as powerful as the targeting and bidding that using the Power Editor allows you to do. Although it is fast and easy, resist using the Boost Post button and turn to the more advanced advertising platforms Facebook offers to not only get valuable tracking data but to also get a better ROI.
Getting a good return on investment on Facebook does take a little bit of extra effort. However, if you use the tools Facebook has to offer, put in the time to find your ideal audience and focus your targeting specifically on them, work to build trusting relationships with your fans, analyze your data, and don’t take the easy way out, you should start to see an excellent ROI from your Facebook advertising.
Do you feel like you need some help getting your Facebook marketing on the right track? Contact Business Marketing Engine today for a free consultation.