Let me preface this article by stating that in my opinion Facebook currently offers the most comprehensive and powerful ad platform for businesses of all sizes. Unfortunately, the 99.9% of people that say Facebook ads don’t work aren’t fully embracing the incredible technology that Facebook offers them. I launched a new brand, Startup Drugz, about 10 months ago and the only paid advertising I do is on Facebook. We did over $15k last month in sales and are on pace to do over $25k this month. For every $1 we spend on FB ads we make $3-$5 back depending on the day.
Through my social media marketing consulting I hear the same story from nearly every SMB client. The story goes “I made an ad on Facebook targeted some relevant groups and pressed submit, but after a few days and a few hundred dollars I didn’t get any sales so I stopped.” The problem with this strategy is that, even with decent targeting on your first ad, you are still targeting way too broad of a group and aren’t using data from your store to tweak and tailor the ad. Even the biggest most successful advertisers (all of whom allocate huge chunks of their budget to Facebook) in the world don’t hit a homerun with their first ad on a new platform. It’s just not possible. That being said here are 6 things you should be doing in order to increase your ROI with Facebook ads:
There are many more items I can add to this list, but I wanted to focus on the 6 items I view as the most important. Long story short, if you’ve advertised on Facebook without following the above steps then it’s no surprise you lost money. Successful advertising isn’t about the cash you put into it. It’s about the time you put into it after the cash.
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P.S. In regards to people switching to Google because Facebook didn’t work right away, keep in mind that Apple’s iOS 9 is slowly killing AdWords. Pretty soon most iPhone users will be blocking all browser based ads, which means there’s going to be a ton of advertisers competing for fewer and fewer eyeballs. Based on simple economics, bid rates will steadily increase. As SMBs we will most likely be priced out of this market by larger brands. This is something Google understands well, which is part of the reason why they rebranded the company and are focusing on their other products like Nest and Calico. Social media and native ads are where your brand should be.Beyond Facebook, Pinterest and Twitter both offer great ad platforms that I’d recommend looking into.
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