Opinions expressed by Entrepreneur contributors are their own.
Every business owner, entrepreneur and social influencer understands the importance of branding and marketing for profitability. If you don’t have eyeballs on your business, you aren’t getting traffic and converting consumers into clients.
Still, it isn’t only about getting people to look at your ads or website; you must also find the right audience and connect with the correct message on the most appropriate platform. While traditional and modern media provide various outlets for marketing efforts, few compare to the power and prevalence of the humble Facebook Ad — when done correctly.
Facebook: the social empire
Facebook, despite frequent controversies, is the most popular social media platform. As one of the few founding platforms to survive countless reiterations, profitability challenges, and privacy battles, Facebook developed from a typical friend-sharing site to a marketing powerhouse.
The platform delivers metrics, capabilities and audience numbers far exceeding any other. To capitalize on the advantages of the social media juggernaut, you must learn the art of creating appealing Facebook ads and campaigns.
It is not enough to produce an enticing image and bold messaging. To stand out from the crowd — the competition in the Facebook arena is undeniable — and leverage the social media empire, you must create compelling media that speaks to your target consumer.
Ad leakage: understanding and correcting marketing loss
Every ad campaign costs a percentage of profits. The costs should account for an acceptable loss. Unfortunately, because many business owners and entrepreneurs are unfamiliar with optimization strategies, Facebook Ads can quickly envelop profits and marketing budgets.
Correcting marketing losses is about identifying a campaign’s leaks or weak points. The only way to identify ineffective ads is to compare advertisements. Still, it is only possible to identify and correct potential errors if you know the right design, implementation, and measurement strategies.
Social media strategy: building a better foundation for advertising success
As easy as it is to create social media ads, rushing the design process is a mistake. By approaching Facebook ads strategically, you can develop a measurable and changeable foundation, allowing you to weigh the cause and effect of various decisions.
– The importance of research
Many professionals underestimate the significance of market research. They assume, as the creators of a product or service, they automatically understand the mindset of their target consumer. Realistically, consumers buy products or invest in services for many reasons. While a professional’s motivation for creating the business might be valid, it might not be the most profitable.
Before developing ads, consider your audience, motivations, and needs. Do not allow bias to motivate your marketing decisions. Hire a research team to survey the market, or invest in market research on your own.
– The significance of building blocks
When talking to marketing experts, you will hear them talk about five aspects of ad design: image, headline, text, call to action, and value proposition. While important, the fundamentals of ad design are only one element of the building blocks of marketing. The other blocks include target audience, testing, and optimization.
Even a tiny Facebook advertisement requires planning. You must know which ad type is best for your target demographic and where the ad should appear for the most success. With no clear foundation, the ads will probably fail.
– The value of clear objectives
One critical but oft-forgotten element of advertisement prep is creating and identifying clear and measurable objectives. Every advertisement must have a purpose. For example, do you need a Facebook campaign to increase brand awareness or improve sales of a specific product or service?
Knowing what you expect from an ad campaign will help you identify its performance. Clear expectations will also limit the risk of spending more than you want for a particular campaign effort.
Budget and costs: creating enticements and measuring success
The success of every Facebook or marketing effort comes down to original budgets and costs. After the campaign, you want to make more money than you spent, hopefully, a lot more. Your profits will stem from your ability to create ads with appealing offers, measurable performance, and a genuine understanding of a customer’s lifetime value.
– Making appealing offers
An effective ad makes an appealing offer without selling. The best-performing Facebook ad offers are those that appeal to people’s psyches. You need to use the power of influence and navigate the sales process with a lighter approach. For example, if your consumer is charitable, consider donating a portion of every purchase to a specific and related charity and specifying that in the ad.
– Letting metrics guide decisions
While intuition and willpower might have motivated your entrepreneurial ambitions, they should not guide marketing decisions. Facebook offers ad metrics for a reason; use them, but focus on hard data, not vanity. Sales, not clicks or social engagement, are the objective measure of ad success.
Also, consider customer lifetime value when weighing metrics. Sure, if it costs you $80 to convert a customer for an initial $50 sale, that seems like a significant loss. However, if the customer represents an LTV of $300, the initial loss is worth it.
Facebook represents a significant marketing opportunity if you know how to construct, implement, and measure ad success. As a business owner, entrepreneur, or social influencer, understanding the tools at your fingertips is the key to future growth and profitability.