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Lexington Kentucky ad agency advice for growing facebook following

Grow Your Facebook Following With Paid Ads

Let’s say you’ve already got your Facebook Business page set up. Already posting regularly, you’ve got some likes and shares. You’ve got a good idea of your niche and what kind of person likes your content. Sweet! But, your tech-savvy self knows that Facebook’s algorithms needs some sort of relationship to show your content to people. There’s a ton of people out there who will probably love your content, but you’ll have a pretty tough time reaching them organically. That’s where Facebook Paid Ads come into play.

Let’s start with the basics

What is a Facebook paid ad?

According to Facebook, “With Facebook Ads, you can create targeted ads to reach different audiences and meet your business goals.”

Facebook Paid Ads are a straightforward and cost-efficient strategy to reach a specified demographic. You can create and promote custom ads and content, then send it out to reach an audience of your choosing. Additionally, you can collect data from the ads that will help you increase their efficiency so that the next round reaches even more people.

How to build an effective Facebook Paid Ad

When you’re building your ad, there are a few important factors to consider:

Your audience

When optimizing your ad, you must decide which demographics you want to target. It’s important to know what type of targeting will work for your business. A broad and general category may work for some businesses, but others will need a far more narrow and specific targeting approach. Most businesses will benefit from a narrowly targeted ad. For instance, if you’re selling t-shirts with video game inspired designs, you may want to target men and women between the ages of 16 and 40 who are also interested in video games and entertainment. Facebook can use those interests to extrapolate on your targeting, and help you optimize your audience. If you’ve chosen your audience well, you’ll reach people who will want to engage with your ad and follow your page to know more.

Your compelling message

Your Facebook Ad has limited space, so make sure you’re communicating your message clearly and directly. Are you offering a deal? Hosting an event? Showcasing new products? Make your message relevant to your audience. Make it obviously useful. Would you rather eat a mystery dessert hidden behind a box, or eat a slice of chocolate cake? Innumerable ads go un-clicked because the message is vague, trying to use slogans and wordplay to try to inspire curiosity toward a mystery instead of clearly communicating the offer.

Don’t forget to give it a call to action! Offering a button that says ‘Learn more’ or ‘Shop now’ lets them know that there’s more to your offer than is shown on the ad. It lets them indulge in curiosity, or follow through with the urge to buy your product.

Remember to add an image or video! Ads with visual elements are far more likely to attract attention and engagement than plain text.

Switch it up

Facebook Paid ads comparison example

Why make one ad when you can make two?

Creating more than one ad gives you multiple sets of analytics so you can determine which ads work and which ones don’t. You can test different text content, different images, different focus areas. Maybe close-up shots of the product will work better than action shots, or vice-versa.

Even if your ads are working well, it’s still important to switch them up every so often so the message doesn’t feel stale.

In this example, S&H Farm Supply Inc. created two different ads, both promoting their Kioti tractors. One ad focused on giving a general impression of high quality for low prices, while the other ad gave specific details about payments.

While both ads got similar engagement rates, the one with specific prices received more shares. When it comes to ads, clicks and shares are far more valuable than likes. It’s not a popularity contest, after all. You want folks taking action.

 

You’re all set to get started! Facebook Ads are a great way to get your products and services in front of potential customers. Facebook has some great resources to help you get started. Even a low ad budget each month can help you attract new customers and find new business.

Although Facebook advertising is extremely important, creating and running ad campaigns can be a time consuming project. Consider using our local ad agency’s Digital Advertising services. Our team of experienced ad managers is based out of Lexington, KY and can help build a targeted ad campaign with messaging to really pique your audience’s interest. With our reporting, you’ll be able to clearly see the ROI and what you’re getting for you $$.

 

Like these tips? Read some of our other free resources for local businesses!

An Introduction to Digital Advertising Metrics

Choosing the right digital advertising metrics to track and measure is crucial to your campaign’s success. If you aren’t tracking advertising efforts correctly, you’ll never know what’s working and what channels to focus your advertising dollars on.

Determining your core ROI goals means you’ll be able to measure data that tells the story of how your target audience interacted with your ads. 

If you’re watching the right data, you can make informed choices.

Here are a few of the key metrics to track that will help you measure success and determine ROI:

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CPA – Cost Per Acquisition

How much does it cost you to acquire a new lead on any given channel?

Knowing the cost to acquire a client for your business is the basis of your marketing budget, so it’s crucial data to add to your ROI analysis. Combined with other ad data, this will determine whether your business will make a profit.

Ideally, you’ll want to get a sense for which mix of ad channels (Search, Facebook, Display) work best for your business. Then you’ll be able to better optimize your ad budget going forward.

Here’s the formula for CPA:

CPA is a simple but valuable formula. Knowing how much it costs to acquire a new lead is key to understanding your ad ROI.

However, we still don’t know the actual value of your client’s customers. The next thing we’ll discuss is LTV, which is essential for further ROI analysis.

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LTV – Lifetime Value

Do you know the lifetime value of your customers? You should!

Why? Because this will give you a number that represents an approximation of the revenue a new customer brings in, with all associated costs factored in.

If you know your LTV, you’ll be able to compare it directly to the cost of acquiring a new client through your digital ad campaign.

Here’s the formula you can use to determine your LTV.

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CR – Campaign Revenue

Now that we understand how to calculate and analyze the lifetime value of your customers, we’ll be able to track the revenue generated by your digital advertising campaign. As you can see below, you just need to multiply your campaign’s conversions by LTV and closing ratio (50% would be .5).

Why include closing ratio? Obviously, every new lead you generate isn’t going to become a customer, so you’ll need to factor in how often you are able to close new leads to estimate campaign revenue correctly.

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ROAS – Return on Advertising Spend

ROAS is an illuminating metric to use for ad campaigns, and a lot of marketers use it interchangeably with ROI itself. However, there are significant differences between the two. What is the difference between ROI and ROAS?

Tim Mayer, CMO of Trueffect explains:

“ROI measures the profit generated by ads relative to the cost of those ads. It’s a business-centric metric that is most effective at measuring how ads contribute to an organization’s bottom line. In contrast, ROAS measures gross revenue generated for every dollar spent on advertising. It is an advertiser-centric metric that gauges the effectiveness of online advertising campaigns.”

So advertising ROAS is much more focused on the results from specific campaigns, while ROI incorporates the bigger picture relative to the business. This means that it’s much easier for you to be tracking and analyzing advertising efforts with ROAS! You know the cost and you can calculate the revenue.

Setting your own benchmarks and campaign goals based on past performance is the best way to proceed with your advertising efforts.

Want to skip all this confusing jargon and let the experts handle your digital advertising? Contact us today!

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