What Makes Facebook The Best Ad Platform Ever?
Remember when Facebook was a fun place to hang out with your friends?
Well, no more.
This super clever social networking platform has turned into the leading digital advertising powerhouse.
In 2013 Facebook forged partnerships with data brokers like Epsilon and Acxiom – the companies that have access to trillions of customer data transactions each year.
This gave Facebook a leverage in understanding their users beyond their own CRM (customer relationship management) databases.
Suddenly, Facebook knew a whole lot more about your medical problems, income, reading habits, living arrangements, marital and parental status, interests and even your exact post code.
This is crazy powerful!
Nowadays, it’s difficult to find a company that isn’t present on Facebook. After all, in 2018 the platform has about 2.23 billion active monthly users, who spend about 40 minutes on the platform every day.
Take a moment to consider that number.
What so many companies present on Facebook, majority still don’t understand the massive potential the channel has in reaching and converting the right audience.
Facebook has thousands ad targeting combinations
No advertising platform is more granular at targeting than Facebook.
With its thousands ad targeting combinations, you can target people by demographics, interests, online behaviours, major life events like engagement, baby shower, funeral, marriage and many more.
Facebook has pretty much every conceivable life event targeting option, since people tend to post these to their timelines.
Another great targeting parameter is Custom Audiences, which enables to connect with your existing contacts, like email subscribers, customers, people who Like your Facebook page or visited your site.
You can also target people, who have visited a specific section on your website. This is excellent if you have a large number of web pages and products.
Getting in front of people, who are already familiar with your brand, gives you the opportunity to increase their lifetime customer value, order frequency and loyalty.
Facebook Customer Audience is also great for when you want to exclude your existing contacts from your advertising campaigns.
Excluding your existing customers helps you to avoid wasted clicks or views. For example, if you’re offering a free trial to new users, there’s no reason to show it to your loyal customers.
Another ad parameter, and a logical extension for Facebook Custom Audiences is Lookalike Audiences.
Once you have a good Custom Audiences strategy in place (i.e groups that convert easily and provide ROI for your marketing spend), you can create audiences that look like your Customer Audiences.
Lookalike Audiences allow you to expand beyond your reach, but still target people with highly specific profiles.
To put it straight – Facebook is a goldmine you didn’t know existed!
But most marketers find themselves at a loss, when faced with so many options.
Facebook advertising requires specialist technical and analytical capabilities.
If you don’t know what you’re doing, you can easily waste a lot of money.
Don’t know where to start with Facebook ads?
Don’t worry! There are now specialist Facebook advertising agency in London , that actually delivers.
Summon Digital will help you to get started on your Facebook journey.
Below are just some of the areas they can help you with:
1. Make the most of your existing data
Make separate lists from your data-sets before you move on to creating your Custom Audiences on Facebook.
How, you ask? It’s simple:
Create a list of people who subscribe to your email newsletters separately from those , who have actually purchased your product or service.
This way, you can come up with different marketing campaigns with different messages to target.
2. Create, test and optimise Custom Audiences
Many companies and marketers tend to make a mistake of targeting people based on common interests.
It’s not a bad approach, but often it’s more cost-effective to build your new audiences by starting with people, who already know and love your brand.
Summon Digital helps you to utilise your existing user databases, who are more likely to want to hear from you as they have already interacted with your brand or service.
Custom Audiences are one of the most important features on Facebook, because they will let you find people who are similar audiences to target through its Lookalike audience parameter.
3. Create, test and optimise Lookalike Audiences
Summon Digital will also help you with widening your pool of potential buyers through Lookalike Audiences.
Lookalike Audiences are strangers to your brand and know nothing about your products, but some of them are likely to become your customers, because of the similar behaviours and characteristics they have with the Custom Audiences – the ones, who already interact or buy from you.
Facebook has made the manual process of figuring out what commonalities binds your target market with the potential market by automating it, sparing you a whole bunch of time and effort.