Your brand is relatively new to Facebook, you only have a $400 Facebook marketing budget, and your team isn’t very confident about making it work. How can your business make every dollar count in attracting and nurturing quality audiences?
Here are three tips to start you off.
Tip 1: Start off with buying ads to Custom Audiences
Custom Audiences are a valuable bunch with a higher likelihood of engaging with your brand. These are people who have shown a certain level of interest in your brand and your content —they’ve signed up for your brand’s newsletter, and interacted with your Facebook business page, website or other marketing channels organically, or through ads or referrals. Facebook identifies and matches these people to existing Facebook users:
Compared to an interest-based Saved Audience, which typically requires many more rounds of refinement at the start, buying targeted ads to a Custom Audience could save you lots of time and money in attracting more highly relevant audiences. In our experience, they have consistently proven to deliver higher quality audiences, and higher engagement and click-through rates, with a lower cost per click.
Start identifying, creating, nurturing and growing them through your ads as early on as you can. If you have less than a total of 500 people in each custom audience set, create a Saved Audience consisting of several custom audiences and their Lookalikes. Over time, once your brand’s presence on Facebook grows, you can begin segmenting them based on more specific actions you wish them to take, on Facebook or other marketing touchpoints.
Tip 2: Specify exclusions under your page settings and Saved Audiences
Is your page getting a lot of unintended attention from dubious profiles in other geographical regions beyond your targeted range? This issue is especially common among new pages, or brands that are new to social media advertising.
One way to minimise this is to specify your page’s preferred audience profile. It is intuitive to specify ‘inclusion’ interests, but what many seasoned marketers may not know is that it is also possible to ‘exclude’ people. Facebook’s exclusion tool allows you to indicate the ideal location, interests and age range of people you do not wish to target, allowing you to focus your reach on people who matter.
Tip 3: Acquire fans without buying Page Like Ads
While Page Like Ads are undoubtedly the most powerful tool for fan acquisition, it is not unusual for certain target groups to be (exorbitantly) costlier to attract. This is common if you are (i) a new brand with little existing brand equity, or (ii) advertising in a country where majority of its citizens are educated and digitally savvy, have shorter attention spans, are over-exposed to brand messages, are and increasingly hard to impress.
Even if your Cost Per Like (CPL) becomes too costly in relation to your industry benchmark, not all hope is lost! Repurpose your Page Like Ad budget from this audience group to other more cost-effective audiences, or ad types such as Post Engagement Ads. Post Engagement Ads have the potential to meet their objectives of increasing engagement rate and more! Audiences who find the content in your ads interesting, relevant and useful, are likely to visit your page profile and click ‘Like’ to see similar posts.
You should also learn the behaviour and preferences of this group of people, in order to consistently nurture them with relevant and useful content through post engagement ads. At the end of every month, review the performance of your content and add more budget to content posts that received high engagement or led to the most number of page likes.
Buying Facebook Ads like a pro
Remember that these tips should be used in sync with a sound social media strategy. While they may be able to help to extend the reach of your Facebook content in a more cost-efficient manner, it is still critical to first build a strong base — having a strong brand identity, crafting good content, and presenting it in a genuine manner.
Do also check out our new post on content strategy here (comes with free downloadable template) to complement your ad strategy! We would love to hear about other ways that have worked for you. Drop us a message on LinkedIn!
Written by Deborah Chiu
Updated by Miranda Yeo (Nov 2019)