There is no denying Facebook dominates online advertising media due to global reach.
Many companies have successfully recognized this, and are keen to jump in.
But I want to share with you my honest strategy for Facebook ads.
1. Don’t over invest.
It’s a fact that marketers must advertise online, for the simple aim to be found – it’s about visibility.
If you are not online, you are risking losing customers to competitors.
Social ads are a great element of what should be one part of your overarching marketing mix.
Don’t jeopardize other potential ways to gain reach by restricting only to Facebook ads.
2. Don’t obsess over ROI.
Say you are a Facebook administrator for a page that is running a campaign. You can quantify results immediately.
There’s the problem.
Already, the campaign is judged by immediate quantitative metrics, and there are more qualitative measures to consider.
More importantly, advertising works over time.
Social is just one part of the marketing mix. Frustratingly, we may never really know what impact it has on sales.
3. Targeting can lead to restricting your brands growth.
I am really sorry to tell you this, but your over-targeted campaigns could be better! I say this because targeting an audience does not mean you will be able to reach more volumes of that segment.
Most of the time, we define our target audience as a particular profile. That would be considered your ‘heavy buyer’. Heavy buyers are people who already buy your brand more than once in a given time frame.
Research shows that most fans on a Facebook page are heavy buyers.
Yes – heavy buyers are important, but brand growth ACTUALLY comes from customer acquisition of light buyers.
One of the aims of advertising is to defend and increase your brands’ market share (hitting existing buyers, but also getting new ones). So if you are only advertising (and therefore over investing) to your heavy buyers, then you are restricting your opportunity to grow.
As an example, blogs work because they don’t aim just at heavy buyers, they aim at everyone.
For all you marketing geeks out there, the NBD model might provide some deeper explanation into some of the empirical generalizations that I have briefly mentioned above.
4. People don’t care about your brand.
The term “engagement” suggests people care about the brands that they like on Facebook.
Overall, less than half a .5% will go back and look at a brand’s Facebook page after they like it.
This is because we polygamous buyers, we buy from repertoire of brands, and most brands are easily replaceable by other brands in the same category.
So just be careful with the term “engagement”. It can be elusive.
What do you think are some other myths of advertising on Facebook? And how do you combat these as a marketer? Do you agree or disagree with my above claims?