In 2019 Facebook’s revenue from paid advertising was $70.7 billion according to mobile marketer – https://www.mobilemarketer.com/news/facebooks-ad-revenue-rises-25-to-record-207b/571362/
So given that huge amount of revenue it is safe to say that Facebook advertising does work as businesses continue to poor their advertising cash into the platform.
From a personal prospective having spent over £500,000 on Facebook Ads for myself and my clients yes they do work.
That said, from my experience it is totally dependent on the industry you are in.
I hear many digital marketers often say that Facebook only works if you in the B2C market place. Whilst I can see where they are coming from this isn’t always the case. Each business is different and there are many ways that you can utilise Facebook marketing.
That aside, when you are spending your hard earned cash on marketing you want to see a Return on Advertising Spend (ROAS).
Will Facebook Ads Work For Me?
There are many things to consider here and we will look at these in a bit more detail later:
- Your target market
- Low Friction Conversions
- Your expertise
Your Target Market
I hear so many individuals and companies complain that Facebook advertising does not work for them. This is often because they are not a good fit for the platform.
Poor targeting costs money and potentially damages your brand. So, who’s your ideal customer?
What do they look like? You’ve got to know their needs, wants and challenges. Take a look at my blog post 5 Key Elements For Successful and Reusable Marketing Campaigns where we look at this in a little more detail.
If you do not know your target market then you will fail!
Facebook allows you to target users based on their location, demographic, likes, interests the list goes on. You need to know exactly who you are targeting and this is the beauty of Facebook. If your target market is on Facebook you can reach them.
As a recap with Facebook you can target by:
- Relationship Status
- Job Title (Not All)
- Income (USA)
Low Friction Conversions
Don’t go straight in for the sale. When you advertise to a cold audience you will want a low friction conversion, that is asking people to sign up to download a PDF, submit a lead form or make a small commitment.
You can then use retargeting later and email campaigns to tempt the customer into a sale. Check out my blog post – What Is a Sales Funnel? The Automated Selling Machine to learn more about automated sales funnels.
In most cases once a prospect has given up their email you will need to gain their trust to turn them into a paying customer.
That said as a caveat I am running some campaigns that due to the close targeting and the product people are buying right away. This does happen but I do find that 9 times out of 10 you need to be a little more subtle!
Also, it is worth looking at the lifetime value of the customer. Many purchases will be small so don’t start your Facebook campaigns up and turn them off after a week because they are not working.
This is a crucial element! You must have your Facebook Tracking Pixel integrated correctly on your website.
The Facebook Pixel allows you to not only specifically target visitors to your site but it also allows you to track conversions and sales.
A typical scenario where we would utilise the Facebook pixel would be if someone had landed on your product page and not purchased. We could then target them with a Facebook advert showing the product and potentially a discount to close the purchase.
I have worked with many client over the years whose Facebook Pixel were not tracking conversions. Many were saying that their Facebook advertising was not working only to discover that the adverts they had been running were indeed bringing in sales.
If your Facebook Pixel is working correctly who will see how many conversions who have received from your adverts and in the case of an e-commerce site you will see data like in the screenshot below (yes this is from one of my accounts I run!).
This is a big one. Many of my clients who come to me for help with their Facebook Ads do so because they have tried to advertise themselves and have failed.
Either their targeting is out, they are not utilising Facebook features, many would have blindly ‘Boosted’ a post and their tracking is not working. In most cases they were not utilising a sales funnel correctly.
Rob’s a real pro and is definitely one step ahead of the game when it comes to making money for businesses online, funnelling techniques and social/facebook marketing. I have brought him into some of my client-companies with very good success. In some cases, we have seen some spectacular results! Recommended.
As Red Adair said
“If you think it’s expensive to hire a professional to do the job, wait until you hire an amateur”
You should have a series of Facebook adverts from those targeting a cold audience through to those who have signed up or expressed an interest in a product.
You may break even or even turn in a small loss advertising to cold audiences but if your lower funnel adverts are turning a great profit then your whole funnel is working.
Look at the profitability of your whole campaign. I see too many beginner advertisers turning off their upper funnel because it is not profitable for them only to see their lower funnel collapse.
Your upper funnel adverts shove the traffic into the funnel, stop this supply and the whole process dries up.
Be Creative With Your Facebook Adverts
Put some thought into your adverts, Facebook users are targeted 24/7 by adverts and you need to stand out from the crowd.
People are not on Facebook to be sold to so bear this in mind. To stand out deliver great content, great graphics and don’t jump straight into the hard sell in the upper funnel.
I have run so many successful Facebook advertising campaigns to say yes they DO work and given the amount of advertisers that are flocking to the platform and staying is a further sign that it is a very lucrative advertising platform.
In the right hands Facebook campaigns can transform your business. Good luck!
Maybe your Facebook adverts are not working, or you cannot get that dam Facebook Pixel to work correctly. If this is you then feel free to book in a free 20 minute discovery session to see how we will turn your Facebook campaigns into profitable ones.