Since the age of social networking, we have seen the world of advertising change quite a bit. We no longer race to put ads in the paper or spend thousands to put up a bill board. Today we race to our emails for coupons, check our FB pages for sales postings and tweet everything. With so many social networking outlets, it all seems to be like mud, very clouded and thick. There are a million pages and accounts to have, groups to join and, last but not least, the ever growing blogosphere. We are going to take a look at the most prominent of these avenues and evaluate weather it can work for your business or if your efforts should be elsewhere.
Over 800 million users are on Facebook everyday. We use Facebook for everything; to plan events, to stay in touch and most importantly to SHOP. Since the invention of social networking, we have changed the way shoppers spend their money. No more waiting in eternal lines, no more sales ads. Today, we are using coupons on our phones and buying Group-ons with our girlfriends for a Mani-Pedi, and all by email or text.
Facebook has several uses that can aide in growing your customer base. The most simple options are to host a Facebook page to share information with your customers. Second, you can create a Facebook group to teach your customers how to use your products or to have a special customer discount group, like your own personal Sam’s club.
You can promote these Facebook pages by running an ad campaign. Make sure that once you have created your Facebook Fan page that you have established your identity. It is important that your web identity has a cohesive look. After all, once the customers start to click like, they will be looking at everything you are on the web. The message needs to be clear to establish trust with your new potential customers. Check out part 1 of this blog series for more info. Facebook offers two types of ads: Likes Ad and Likes Sponsored Stories. Lets take an in-depth look at each.
Facebook Likes Ads are designed to introduce a new audience to your business page. As you see below, these are ads that are shown on the sides of the page. These ads are shown to the customer group you select, and their success is based on choosing the right customers. For instance, for our own business, we chose women, over 30, in the entire US. You can even select income and interests. Our first ad campaign which ran for over 60 days provided over 350 likes for about 100.00 spent. That is beyond cheap for advertisement and the opportunity to get in front of a potential customer everyday for FREE.
The second option would be Likes – Sponsored Stories. They are designed to to display ads to friends and family of people who have already liked your page. A lot of people notice what their friends or family are paying attention to. Not to mention, if your friends or your mom like a product page, potential customers are much more likely to attach to your page simply from association. Sponsored stories are known to attract more likes. However most people run both ads simultaneously.
These ads are pretty easy to setup, but they use terms that we may not all be very familiar with. Here are the key terms that you really need to know and understand to complete your campaign properly.
Daily Budget– This amount determines how much money you will spend per day on your Facebook ad.
Cost Per Click (CPC) – This is the cost amount for each time a customer actually clicks on your ad or sponsored story. This option is really for advanced users who expect a certain return on your investment or you are very certain your specified customer is making a purchase. This is often a more expensive option.
Cost Per Impression (CPM) – This is the cost amount for each time your ad is seen on Facebook not clicked on but viewed. By default Facebook offers their ads by impressions. You are basically paying for the amount of people that see your ads. This is VERY key because if you identify your target market correctly, this can turn into a lot of likes and followers.
Campaign Schedule – By default the schedule is set to run continuously, so unless you want your ad to run indefinitely, you much uncheck this button. Once this option is unchecked you can set a schedule for your budget as seen below.
So over and over again you are going to hear me express the importance of your TARGET audience. In about every business, no matter the product, you have a specific audience you are speaking to. It’s a total waste of money to target your ads to everyone (for example, the 16 year old boy who could care less about wedding jewelry). That’s who you will be wasting your impressions or clicks on if you don’t narrow down your audience.
Overall, Facebook Ads can bring you a greater audience to speak to, and they also help grow your audience, as Facebook now allows for shares of things your current viewers like. This gives you more exposure, which, after all, is what we are all looking for. Facebook allows us to have better business relationships too, which over time always means more loyal customers and long term sales.
Quick Starter Tips
1. Set a modest budget: Don’t spend more than you can afford.
2. Set your target groups: This may take a few minutes to think about. Use your past sales as examples.
3. Set an END date: If it works, extend the campaign, and if not, only a modest investment has been spent. Nothing like the hundreds and thousands we spent on mail outs, flyers and radio ads in the past.
Good Luck All! Check in with us next time for Branding Your Craft Part 3, The Road to a successful craft show! As always, if you have any questions regarding this topic, email us at firstname.lastname@example.org.