In 2013, over 80% of U.S. based companies with over 100 employees used Facebook for marketing purposes. In turn, many of those companies faced the challenge of effectively managing an ad campaign on the social network. The purpose of this article is to provide 10 tips on how your business can effectively manage a Facebook ad campaign at its given scale.
1. Create a Plan
Creating a marketing plan is a pivotal step in effectively managing a Facebook ad campaign. In doing so, you must outline whether you want to reach mobile or web placement, how you want the copy to appear, and the media elements you wish to use in your ad, as well as other aspects, like how long the campaign will run.
2. Set Goals
Goals are crucial. You will need to outline how many new customers you wish to attract with your Facebook ad campaign, and how much you wish to increase metrics like sales and profits.
3. Create a Budget
Without a budget, your Facebook campaign can quickly rack up expenses that ultimately overshadow any potential for a significant return on investment (ROI).
4. Reevaluate Your Budget
If it turns out that your Facebook ads are reaching your target audience effectively, consequently providing substantial ROI, then you may wish to reevaluate your budget, adding more funds. Conversely, if the campaign is proving ineffective, then you should not scale down your budget, but instead focus on managing the campaign more effectively with the allotted funds.
5. Know Your Target Market
You must pick your target market to ensure that your Facebook ad is properly reaching the largest audience numbers in the most effective way. Facebook has good tools to assist you in doing so.
6. Use The Tools Provided
As mentioned, Facebook provides tools for analytics, placement, and alteration of your ad so you can properly manage your campaign on the social network.
7. Make Connections
Making connections is not only crucial for your online presence, but it is dually important to your Facebook ad campaign. Connecting with customers and other businesses will only give you further insight and effectiveness in carrying out your campaign.
8. Provide Incentives
Providing incentives to your customers through an ad is a vital part of managing your campaign effectively. Whether it free T-shirts or gift cards to your business, incentives undoubtedly boost your ad campaign.
9. Measure Results
Measuring the results of your ad campaign is of particular importance, as it is the only way to truly tell if your marketing is being successful. Facebook provides analytics tools that can help you do so effectively.
10. Evaluate Performance
Once you have the results from your campaign you can compare them to broader results, like these reported from Facebook in March of 2013:
- Sponsored check-in stories had an average clickthrough rate of 3.2%, average CPC of $.04 and an average CPI of $6.27.
- Sponsored “like” stories had an average clickthrough rate of 2.32, average CPC of $.15, and an average CPI of $4.58.
- Sponsored post stories had an average clickthrough rate of 2.13%, average CPC of $.11, and an average CPI of $3.64.