Making The Most of $100 on Facebook
Making the most of your money on social media marketing can be hard, and it can be even harder when you don’t target an effective audience.
We’ve put together this quick guide to help you get started in paid social marketing and ensure your money is headed in the right direction.
Ok so example: Jim is a business owner who employs 2 people, the first is an expert in his field, the second has no idea what he is doing and Jim pays them both, $20 per hour. Which do you expect to see better results from?
Paying for advertising and paid traffic without knowing who you really want to show your ads to is like employing someone with no idea over someone with expertise.
Don’t be Jim.
Best audiences can be narrowed down using Facebook’s ‘Split Test’ feature, which allows you to test certain ad variables against each other in order to figure out what works and what doesn’t.
Right so you have a whole $100 you’re ready to invest in social media for your business, but where to start?
1. Figure out your goal: What would you most like to see come from your ads? Remember, early days = baby steps. Traffic = Exposure, Targeted Traffic = Engagement, Engagement = Revenue. Work in a systematic way to reach your end goal.
2. Define your ad media: Use a video if you can, otherwise a nice looking image that represents what you’re advertising will work also.
3. Figure out your variable: We would start with the variable being the audience, select 5 audiences that you think would be your most likely customers. REMEMBER always separate male and female audiences where you can, their buying habits are much different and you don’t want to confuse the two.
We would also use Facebook’s ‘Look Alike’ audience option as one of the 5.
4. Organise your budget & timeframe: Ok so this is where it can get tricky, but here’s what we think. Set each audience to a budget of $10 each (total lifetime budget = $50), and run the split test ads over the course of 7 days. This will give your ads a chance to show some results.
5. Analyse: Once your ads have come to an end, Facebook will automatically choose a winning ad set for your split tests, typically this is quite accurate however it is a computer generated result so we encourage you to get familiar with the ad metrics yourself as well.
6. Now it gets real: Take that winning audience, some kick-ass media and copy and throw your remaining $50 on the table. Run it over the course of 2 weeks or so and monitor your results every 3 days or so.
You’re not done yet! This same method can be applied to many ads and variables to really narrow down your targets. Each audience will be different for specific offers or specials you may be running so be diligent with monitoring your results and optimizing to suit.
We have a totally affordable social media package with a free $100 marketing credit just for signing up, it might be worth a look!