Understanding the Basics of Facebook Ads and Marketing, Six years and 600 million people later, many critics (fewer and fewer though) still call it a fad. If that is the case then, all businesses should aspire to be fads as well.
Understanding the Basics of Facebook Ads
Within this 600 million plus member network called Facebook, people are able to maintain existing relationships, resuscitate old ones and start new relationships as well. They do this by interacting and communicating with each other. Needless to say, these 600 million people many of whom visit Facebook daily make it one of the most visited websites in the world today. Depending on the exact metrics used, it may actually be the most the world’s number one website.
It is also a marketer’s haven, as it is one of the best places to market goods and services. In fact based on the uptake by marketers, Facebook went ahead to release Facebook Ads. Their advertising platform which is based on a pay per click model. This means Facebook shows your advert to their users in your target market and each time any of them clicks on it, you pay Facebook an agreed sum, usually a fraction of a dollar. By showing it to people in your target group, Facebook ensures that anyone who clicks on your ads is likely to be interested in purchasing your goods/services. That way, your advertising dollars goes a lot further than it used to.
The beauty of Facebook ads is that as a click can cost as little as 10 cents, everyone can use it, regardless of budget and size. This is very much unlike traditional advertising media such as TV, Radio and newspapers which at the very least costs hundreds of dollars: you can start running Facebook Ads with only $10. In fact you may even be given some free credit to start.
That being said, you need to be careful and determine what your budget is and stick to it until you start get returns from your campaign. As you see results, usually in the form of money paid by your customers in procuring your product/service, you can start to increase your budget. If you are not seeing results, do not give up Instead, you will want to tweak your ad copy (the title or the body or both) until you get the desired results. I personally take it as the cost of market research. You can watch your budget by deciding a daily spend or a monthly spend and as I mentioned earlier, stick to it. I will. Suggest starting with a maximum of $10 per day to enable you get used to the system. You should only increase it if you are making sales. In the event that you are not making sales, it becomes very tempting to increase your budget in the hope of getting those sales. This is not the way to go and it is very dangerous. Rather than making money, you will be losing money. As stated earlier the first thing to do is to tweak your adverts.
One of the advantages of Facebook Ads is your ability to change things around if the Ads are not working. So if your Ad is not working, don’t panic and change it around. To do this you need to monitor them daily, especially when you are just starting out. Over time you will know exactly which ads are working and you can then increase the budget in those ads. But be sure to keep an eye on them for changes so you can react accordingly.