Why Facebook Advertising Matters for Your Business
Facebook is the leading social media platform with over 2 billion monthly active users. It’s the most frequently used social media network in the United States, also making it one of the most cost-effective advertising platforms available to marketers.
While there are over 2 billion people engaging on Facebook globally, organic consumer reach for Facebook business pages is at a challenging 2.6%, which makes it difficult for businesses to get in front of the right people without running paid campaigns.
Facebook advertising can empower brands to reach the right people and drive them to engage with their ads.
What are Facebook Custom Audiences?
One of the key features of Facebook advertising is the ability to build custom audiences from your customer list.
You can upload or import your hashed CRM list to match the people you want to target on Facebook. Based on the ideal characteristics of your customers, you can deliver relevant ads to a desired group of individuals through their Facebook and Instagram newsfeeds.
Here’s how to succeed with Facebook custom audiences:
1. Identify Your Goals
What is the goal of your campaign? Do you want to drive traffic to your website, drive brand awareness, generate new leads, or increase sales?
Once you identify the unique goals of your campaign, you can understand the ideal existing and prospective customers to reach with your Facebook ads.
With the right onboarded audience and visually-appealing creative ads, Facebook advertising campaigns can help increase consumer engagement with your business, boost page likes, website traffic, website conversions, or ultimately, increase sales.
2. Build a Target Audience
With audience segmentation, you can choose an ideal audience based on desired demographics, interests, consumer behaviors and more.
In addition, you can upload existing consumer data to build Lookalike Audiences to reach people who resemble your best customers, or your source audience. In order to build a Lookalike Audience through Facebook, your source audience must include at least 100 individuals from a single country. You can create your custom audience based on demographics, mobile app data, fans of your Facebook Business Page, and other characteristics.With valuable audience insights, you can not only engage your current customers but also reach new prospects who are most likely to be interested in your offers.
For example, if I’m an auto dealership and a list of my best customers includes individuals between the ages of 35-55, who live within 15 miles of my dealership location, with a household salary of $100,000+ and have at least 2 or more auto-related apps, then I can upload that list and use Facebook Custom Audiences to build a lookalike audience of consumers who resemble them and are most likely to engage with your personalized ads.
3. Deliver Personalized Ads
Deliver your highly visual creative ads to your target audience, reaching them on their preferred social media platform on their most utilized devices – their smartphones. According to Facebook’s Q2 2017 earnings report, over 87% of their revenue was credited to mobile.
With mobile creative ads, you’ll drive impressions, engagement and brand awareness.
4. Analyze Your Results
You built a highly targeted custom audience and delivered Facebook or Instagram ads to them, but how do you know which individuals actually engaged with your business?
One of the most challenging yet essential steps to succeeding with Facebook custom audiences is to track your campaign success.
In order to accurately analyze the accuracy of your Facebook custom audiences, it’s important to utilize advanced attribution tools to track your campaign from the first click, all the way to purchase.
By matching post-campaign sales data to the original targeted audience, marketers can understand exactly who received an offer and engaged with a Facebook ad or made a purchase from your business.