There probably isn’t a business in existence today that hasn’t asked itself this question – “would my business profit from Facebook?” The short answer is “most likely.” After all, vast numbers of people in the widest range of demographics, psychographics, and interests spend embarrassing amounts of time on social media, and especially Facebook, despite some rumors of its early demise. It still has over one billion active users worldwide, more than 60 percent of whom check in on a daily basis.
However, a word of caution: ads on Facebook are more like display ads in a magazine, not search ads. Facebook ads work best building brand awareness and acting as a foundation to generate demand, not necessarily fulfill it. Users are shown ads based on their profile, interests, persona, and online activity, so Facebook Ads helps qualified potential customers find your business because the ads they are shown align with their preferences. It’s a great first step.
This, of course, gives rise to the Second Big Question — “do Facebook Ads work better for business-to-consumer (B2C) companies or business-to-business (B2B)?” Conventional wisdom might suggest that a consumer audience – a staple of social media channels such as Facebook – is better suited for Facebook Ads because of sheer numbers and the suitability of priced-right consumables for the legions of potential customers. However, pricing is critical – if you’re advertising low-priced, high volume products, paying $1-per-click just to get someone to your website can drain your marketing budget pretty quickly. “But,” you might be saying, “how do I attract a highly vertical, narrow-niche audience to my relatively-specialized B2B product?” There are several ways, including targeting the fans of a similar business with a Facebook page. You can also attract a targeted audience to your website with appropriate content and then retarget them with another Facebook ad to further seal the deal. Fortunately, Facebook offers tools to help you maximize your Facebook Ads efficiency.
With tracking in place, you can measure and analyze what approach and messages are working best and adjust your ads accordingly. Whether you’re B2C or B2B, it’s important to remember that Facebook users aren’t generally on Facebook looking to purchase items or services, so stick to low-friction conversions that don’t require a large commitment from leads. For example, you may ask the viewer to subscribe to your newsletter, download a free piece of content by providing their name and email address, or sign up for your service with a short lead form.
Once you know they’re interested, you can use the information you’ve gathered to guide them through your sales funnel with email marketing. No matter what your business or industry, social media advertising such as Facebook Ads can be remarkably cost-efficient and a low-risk gamble that’s easy to make with some portion of your marketing budget. If you don’t have the time or skillset to launch and manage a Facebook campaign, we’d be happy to help you here at The Social Julie.