Facebook ads can be a great small business marketing tactic. The minimum spend is just $1 per day. And at least for now, they are being offered at a low cost – just $0.25 per 1,000 impressions (see chart on left).
But PLEASE do not run out and begin blindly using the Promote Post or Boost Page buttons. While Facebook has made this very easy, it will likely result in you splattering your message across a wide range of people. Days or weeks later, you will have likely wasted time and money on the ads, the design and the campaign.
Instead look to setting up Facebook ad campaigns targeted at look-alikes, or those prospects that are similar to your current customers. Fortunately, Facebook offers some great tools to allow you to better hone in on these people.
Within Power Editor in Facebook ads, you can easily upload email lists (a one column CSV file) and create Custom Audiences. Facebook will then match up the email addresses with current Facebook users to display your ads to only those people. So the first step is to upload and create Custom Audiences for the following:
- Current Customers
- Past Customers
- Your Email Marketing List
You can then generate Lookalike Audiences within Power Editor. Facebook gives you two options: Similarity which is more narrow yet closer to your original customer group, and Reach which is broader. To see what is most effective for your business, it is best to design several different ads targeted at the following groups:
- Lookalike Audience Current Customers (Similarity)
- Lookalike Audience Current Customers (Reach)
- Lookalike Audience Past Customers (Similarity)
- Lookalike Audience Past Customers (Reach)
- Lookalike Audience Email Marketing List (Similarity)
- Lookalike Audience Email Marketing List (Reach)
You can then compare the results and refine your target list and message.
For more information and great resources on Facebook ads, check out Jon Loomer.
Have you tried Facebook Ads? Have they been effective? Share below.