There’s no shortage of how-to guides for Facebook advertising so I’ll not bother to retread the basics.
What I’ll offer instead is a few juicy nuggets that are the result of lots of (expensive) trial and error.
Facebook Advertising Nugget #1
Set clear goals and know exactly what you’re trying to accomplish
In my experience, the number one reason for failure in Facebook advertising is not having a clearly defined goal.
By the way, “we want more sales”, is not a clearly defined goal.
Let’s say I’m a dog groomer. What I want, of course, is more hairy mutts on my table.
As the owner of said mutt, however, I want to know my dog and I are going to be happy. Knowing this, my goal might be to get them to come in for a visit – and bring Fido for a meet and greet.
Once they get to know me and my services, I can move them to the next stage of the buying process.
Facebook Advertising Nugget #2
Budget enough money to get useful data
When you start a campaign, it’s wise to test multiple versions of similar ads so both you and Facebook’s algorithm will know which ones perform best.
As a general rule, it takes around 10,000 impressions to know if an ad works. Testing five ads, that’s 50K impressions just to know if you should move forward or rethink the whole thing.
For the sake of simplicity, let’s assume your cost is $5 per thousand clicks (CPM). That’s a $250 investment just to get to a place where the data is useful.
If you’re thinking a $100/month budget will score you more business, I hope this example has made you second guess that plan.
Facebook Advertising Nugget #3
Build a custom audience
Almost no one will buy based on an ad that scrolls past them once and is never seen again. But if they are compelled to click through to your site, you can “pixel” them and show them more of your business.
Briefly, a pixel is a piece of code you install on your website that you can use to build a list of people who’ve stopped by – a custom audience.
On top of that, once Facebook has an idea of the type of people who click through to your site, you can create a “lookalike audience”, multiplying your advertising opportunities by a huge factor.
BOTTOM LINE: know what you want to accomplish with Facebook advertising, budget enough to see if it will work and don’t let ‘em get away.
BTW, these nuggets were originally written in response to a request from a reporter at Forbes but they ultimately chose not to use it – so I re-purposed it for you here. Your loss, Forbes! Tee Hee