Social ROI: How to Gain from Facebook Marketing
Marketing is an important force for any business, capable of reigning in customers from far and wide. With the influence of social media on the rise, the business world has been quick to adopt to changing times and attract support from the web, wherever possible.
Facebook happens to be one of the most well-known social media platforms, with an advertisement system so user-friendly, even a novice can run their own ad campaigns. But what about increasing your business’s return-on-investment (ROI) through Facebook?
Well, ask anyone else, and they’ll tell you that the success of a campaign is half effort and half luck – there’s always some degree of uncertainty when running an ad. To expect an impact on your business directly is simply asking too much.
Turns out, we have compiled some great tips that’ll give you an increased ROI through Facebook for sure:
What is your Advertising Goal?
Before you even think of running an advertisement, you need to know what exactly do you want to see as an outcome. Simply answering with a “larger ROI” is too vague – you need to specify!
Do you want to increase engagement on a specific post, or your page overall? Do you want to drive traffic towards a mobile app, or do you want to reign it towards your website? The options are endless, so give yourself enough time to go through all available campaign objectives in Facebook Ads Manager.
Make sure whatever you pick influences sales in one way or another. For example, a retail store owner would want his audience to shop in his brand – so he’d pick Website Conversions, which helps drive customers directly to buy a product, rather than just leading them to a specific post.
Target the Right Audience
Once you’ve finalised what you want to see from your ad, you need to decide who is the ad made for. What is the audience you have in mind? What do they like, and what will they interact with most readily?
You can target an entire industry, or it’s subdivisions. General audience selections often give a larger reach, while specifications give relevant engagements on your post. If we talk about the same retail store owner, he’d make sure his advertisement reaches people who has fashion has an interest, or a profession – not someone who’s into politics!
While you focus on picking the right demographics and common interests, it’s also important being mindful of the relevancy of your advertisement. Make sure the content is interesting, to-the-point, eye-catching – and most importantly, snackable: something so intriguing your audience is bound to share it onwards for you.
Constantly try New Things
Sticking to just one objective or target audience is not helpful. It may give you some kind of result, but you can’t expect brand growth out of it.
The beauty of Facebook Marketing is the range of options you’re given; Ads Manager has many objectives and audience specifications to choose from – so go loose! Create as many variations of a single advertisement, and test them all out. See which one gave great results at the best price.
Keep an eye out for Cost-per-Result
Metrics are something most people overlook after an ad campaign is completed. However, it’s actually the make-or-break aspect of the entire journey!
After analysing your campaigns’ total results, check its cost-per-result from your Facebook Ads Manager account. If your campaign is getting high results, but a low cost-per-result, then you have hit your first gold mine.
A low cost-per-result means you’re getting just the right amount of preferred results for the least price possible. That spells profit and high returns.
Keep a close eye on such a campaign, and try to optimise it further by tweaking its target audience, content, budgeting, etc. Experimentation is key if you want to reach the perfect result!
After Facebook’s work is done and dusted, it’s time to see the results reflect over your business. Luckily, POS machines in Pakistan have developed well enough to let you see the impact yourself; with Oscar POS you can analyse your sales history through its state-of-the-art Reporting System, integrated within a user-friendly dashboard application.
Of course, the process of increasing your ROI won’t happen overnight – but that doesn’t mean you can’t be optimistic. Consistently push different ad campaigns, testing different waters as much as possible, and you’ll undoubtedly see a positive result.