5 Tips to Optimize Your Facebook Advertising Campaign

facebook advertising

If you’re not getting the most out of your Facebook advertising campaign, or you don’t have one at all, consider using Facebook paid ads in addition to your business’s Facebook account. As a small business owner, you can use a Facebook page to promote your products and services. But perhaps you should explore the paid advertising options available to promote your business to the one billion people using the social media network each month.

Social Media Advertising with Measurable Results

Facebook paid advertising is a simple, cost-effective, and efficient marketing option for small businesses with limited time and marketing budgets. According to an infographic published by Marketing Weekly, most small business owners spend between $1,000 and $2,500 on social media marketing, including operating Facebook accounts, but it may be difficult to determine if the investment yields results.

In March, Facebook’s Brad Smallwood explained that studies found businesses using Facebook advertising boosted their return on investment by 22 percent. The site now has the capability of helping businesses dig deeper into buyer and audience behavior, identifying groups of Facebook users most likely to buy your products or services. This helps you create more effective advertising campaigns.

Fast Ad Setup and Easy Monitoring

Facebook ads are easy to set up and monitor. They allow you to control your own marketing budget and offer many tools to evaluate the success of your campaigns. This makes them an ideal social media marketing opportunity for today’s small businesses.

When setting up your Facebook advertising campaigns, refer to the Facebook’s User Guide for the Ads Create Tool for additional details on creating your account. Then optimize your advertising campaign with these tips and suggestions to maximize return and minimize precious time spent on marketing. After all, you do have a business to run.

1. Start With a Plan and Set Goals

Before rushing off to log into your Facebook account to create a new ad, think about exactly what you want to achieve with your advertising campaign. Be specific; maybe you hope to increase page likes or drive more traffic to your company website. Perhaps you want to promote page posts, apps, or events such as time-limited sales or product launches. Begin with the end goal in mind to focus your advertising activities.

2. Set a Budget

Advertising on Facebook costs money, so you’ll want to go into it with a budget in mind. When setting up your account, you pick between paying based on ad impressions or clicks. Cost per click (CPC) means you pay every time someone clicks on your ad and cost per impression (CPM) means you are charged every time your ad appears in front of 1,000 unique users. The default setting is CPM, so make sure you change it if you want to pay on a CPC basis.

While the minimum CPC bid is $0.01, review the suggested bid range displayed during ad setup to increase the likelihood of a successful campaign. To calculate how much your ideal Facebook ad campaign will cost, check out the Syncapse 2013 Facebook Advertising Spend Calculator.

3. Know Your Audience

New developments in Facebook audience targeting gives small business owners access to sophisticated methods for specifying target audiences, including segmenting audiences according to how likely they are to become customers. In addition to age, location, and gender, you can also choose who will see your ad based on one of their interests. Mashable reports that Facebook has eight million interests that you can choose from.

When setting up ad campaigns, marketers also have the option to choose broader categories, allowing your advertisement to reach people based on Facebook elements such as activities, family status, or music genres listed in their profiles.

4. Use Facebook Connections and Social Reach

Facebook Connections is a powerful tool for attracting ad views by extending the reach of your campaign. Use the Facebook Connections Tool to select your audience based on whether they are connected to any of your apps, events, or Facebook pages. Facebook users with friends connected to whatever it is you advertise will see their friend as part of the ad. This is known as Social Reach. To really fine tune your audience selection, try the SocialWire app. As the newest element of Facebook’s Preferred Marketing Development Program, this tool helps you decide which products to promote and even creates ads of your entire product catalog.

5. Monitor and Review Ad Performance

Once your ad campaign is up and running, schedule regular reviews through the Facebook Ads Manager to monitor how each ad performs. This tool provides data about all aspects of your ads. It generates reports such as advertising performance and responder demographics. The Facebook Ads Manager Guide walks you through each analytic tool and report.

Make note of which ads are helping you reach your goals and those that need work. Consider increasing your bid price or daily budget to reach a more targeted or broader audience, or adjust the frequency of your advertising.

Getting the best performance from your ad campaign requires setting specific goals, knowing your target audience, and continually making adjustments based on analytics. By doing these things, you’ll have the ingredients for a successful Facebook ad campaign.

Aaron Gunderson

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