Facebook has, over the last few years, shed its ‘Cute Cat Video’ image to the small business community, and has become a big marketing avenue. In fact, in 2013, they released figures that showed that retail businesses advertising on the platform experienced a rise in ROI of over 150%. Even if you are not in a store-front type concern, the fact that there are over 1.2 Billion users on Facebook means that someone connected with someone else interested in your business are probably there.
What is overlooked by most business marketers is the incredibly targeting code used by Facebook. The addition of Facebook Places recently, has now super-charged this marketing avenue: Especially for the small business relying on a local community for its exposure. Targeting now not only aims at individuals, based on their ad browsing history, they can now be combined with geographic locations that give you a ever growing, dynamic platform that offers you an ever-evolving set of Analytics to study at all stages of your prospecting.
So, do you use Facebook and, if so, are you maximizing your exposure to your marketplace?
Many businesses don’t, so check the following to see if you are using this avenue to its full potential. Looking beyond Click-through rates, and Cost Per click basics you can optimize your Marketing campaigns, and gain incredibly detailed information on both your current advertising, and future branding attempts.
Look at using Power Editor as a launch-pad for your advertisements
This is a Facebook plugin that acts as an extension of the self-serve ad platform. You can only download it through Google Chrome Browser. Facebook’s help center has a thorough FAQs section that will guide you through the installation and execution aspects if you are not using it at present. It allows you to access resources that are not currently available in the self-serve ad platform, such as Custom Audience .
Last February, Facebook introduced a new targeting feature called Core Audiences, only available in Power Editor. This feature includes improved demographic, interest, and behavior-based targeting, allowing you to target very specific aspects of your target audience such as income or specific positions within their workplace.
Lookalike Audiences can be one of the most powerful tools on offer
It is an extension of Facebook’s Custom Audience tool, and allows marketers to upload contacts via phone numbers, emails, Facebook IDs, or Mobile advertiser IDs and send them over to Facebook. Facebook will then analyze them against their database, returning to you more contacts that appear similar to the ones you uploaded, based on their figures. Any time you can get one of the World’s most powerful brands working for you, this obviously is a plus.
Besides effective targeting, another important factor is, of course, effective testing
Both t A/B or multivariate tests must be acted on to continually optimize the campaign. Of course, Facebook marketers do this all the time with their “Like” ads. But, how do you A/B test your promoted posts without having to publish all the posts to your wall? Your answer is dark posts. Through Power Editor, you are able to create posts that exist within your page’s backend, but are not published for all your fans to see. By creating dark posts you are able to launch and end all of your test ads at the exact same time, giving you a more accurate representation of what worked and what didn’t.
Of course, the more complex your campaigning, monitoring and testing becomes, your reports need to be somewhat customized to your own needs. Power Editor offers this, and now points to statistical breakdown such as gender, age, location, and placement. In addition to Facebook Places, your geographic successes will give your Facebook marketing a definite boost.