We’ve all thought about it, that ‘Boost Post’ button on Facebook is pretty tempting. However, Facebook Ads is much more powerful than a boosted post. The most common misperception is you do not need to spend a lot of money. This usually comes from constantly seeing the $5 ‘Boost Post’ button. WRONG.
You must spend money to make money!
Here’s a rule of thumb: minimum budget should be, at least, one sale of the product/service you’re promoting.
There’s no “one size fits all” option for Facebook Ads. It’s best to work backward. What is your goal? What outcome are you looking for with your ad? Some examples:
• New Customers/Clients
• Brand Awareness
• Event Promo
Once you’ve got that figured out, you’re already ahead of the game. Next is understanding the basics of Facebook Ads and how they work. Ads are bid-based unless set otherwise, which means at a prime time during the day, your ad, along with many others, will bid against each other for a spot on everyone’s timeline. As most auctions go, the prize -or in this case, slot- goes to the highest bidder. This does not mean put your life savings into this. A strong ad that runs over a long period of time/that can be re-used with a healthy budget is much better than multiple ads.
Facebook spends your money based on what you have set up as your target audience. Your target audience should be intuitive, based on interests and behaviors that people would actually have on Facebook. Keep in mind, you pay more for the more competitive targets, i.e. teenagers and young adults.
A $20 ad spent on revenue-generating action (not just engagement) is not enough to determine if an ad campaign was successful or not. If you spend low and get “no results,” don’t blame Facebook. Healthy budgets = Realistic results
The next step is to ask yourself these questions:
- Does my ad give enough context to make the viewer interact?
- Is my offer enticing?
- Would I personally click my ad if it showed up on my timeline?
We hope this helps!